Announcement conversion rate interim dividend 2011

On 8 August 2011, PostNL N.V. declared an interim dividend 2011 of € 0.214 per ordinary share, that is payable, at the shareholder’s election, either wholly in ordinary shares or wholly in cash.

Shareholders who elected an interim dividend in shares will receive one new PostNL N.V. ordinary share for every 17 dividend rights. This represents a value of €0.2238 per dividend right which is  4.60% above the value of the cash dividend. The conversion rate has been based on the volume-weighted average share price of €3.8052 for all PostNL N.V. shares traded on  NYSE Euronext Amsterdam over a three trading day period from 23 August up to and including 25 August 2011.
Over 55% of outstanding capital has elected for dividend to be paid in shares, which results in approximately 12,336,000 new ordinary shares being issued as stock dividend.
The dividend paid in shares will be sourced from the additional paid-in capital that is recognised for Dutch dividend withholding tax purposes and consequently free from such withholding tax. The cash dividend will be paid out of the remaining additional paid-in capital (after deduction of 15% Dutch dividend withholding tax).
Dividend payment in cash or delivery of shares, as the case may be, will take place as from 30 August 2011.