Imtech reaches settlement investor claims

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Royal Imtech has reached an out-of-court settlement with the Dutch Investor’s Association VEB. The settlement includes the setup of a fund which will be funded by the insurers, a contribution by KPMG Accountants N.V., the restitution of bonuses by former board members of Royal Imtech and a contribution by the company. Details about the settlement will be communicated in due course. The settlement will not have a material impact on Royal Imtech's results of operations or cash flow.

Gerard van de Aast, CEO: “Today we announced the out-of-court settlement with the VEB which we see as an important step in bringing closure to past events. The settlement gives us the opportunity to close yet another chapter of the past and focus on the operational recovery of the company.”

Changes in composition of the supervisory board and the board of management
With the settlement concluded, the chairman of the Past Events Committee, Mr Joop de Rooij will step down from the supervisory board after the EGM of today. The Company would like to thank Mr De Rooij for his contribution in prior years and to this settlement in particular. Mrs Van Andel, who has been appointed on the recommendation of Imtech's works council and who is member of the Past Events Committee, will stay on as a member of the supervisory board. To further strengthen good governance and risk management within Imtech, Royal Imtech seeks to appoint an additional member to the board of management shortly.