Frequently Asked Questions and Answers

Who is behind the Foundation?

The Foundation was initiated and formed upon the request of several large institutional investors who sustained substantial losses from their investments in Fortis and who believe that Fortis’ behavior of informing or misinforming the market was not in compliance with Dutch securities and anti-fraud laws.

Who is Alexander Reus?

Alexander Reus is the initial director of the Foundation and the Managing Partner of DRRT, a law firm advising institutional investors around the world with cumulative AuM of over US$8 trillion. Mr. Reus is a German national and an international lawyer with licenses to practice law in Germany, England and Wales, as well as the United States. He has been involved on behalf of over 50 large institutional investors in the construction and implementation of the well-known Royal Dutch Shell settlement in the Netherlands which has a total value of well over US$500 million, including a US$96 million payout for non-US investors from the SEC settlement in the US, a US$389 million payout to non-US investors and US$6.25 million to VEB from the Dutch settlement plus the payment of various costs and fees by Royal Dutch Shell.

Who are the participants in the Foundation?

The participants in the Foundation are large international institutional investors who support the objectives and goals of the Foundation and its specific focus on the Fortis situation and who realize that it takes a focused organization such as the Foundation with the broadest investor support possible to pursue these objectives and goals. The ultimate goal of the participants is to make Fortis a better public company for all investors and to resolve any issues from the past, which have resulted in the destruction of public investor capital to a tune of over €20 billion.

Is the Foundation competing with the Deminor action in Belgium?

The Foundation supports and applauds Deminor, the Belgium shareholder interest and advisory group, for the actions in Belgium but has a distinct different focus and from the beginning was not interested in pursuing any actions in Belgium on behalf of only a limited number of investors. Rather the Foundation represents the interests of all affected Fortis investors in the Relevant Period, except for those who decide to seek compensation on their own through actions with Deminor and the like. The Foundation also believes that there is jurisdiction for claims in the Netherlands and that the Dutch system is better suited to provide protection of investors on a large and representative scale, particularly through institutions such as the Enterprise Chamber and settlement mechanisms for compensation claims via the WCAM (Dutch class-wide settlement statute).

Is the Foundation competing with VEB in the Netherlands?

The Foundation is not competing with the interests of VEB, the Dutch shareholder association, which represents all investors in Dutch public companies by its statutory definition. To the contrary, the Foundation applauds the VEB for what it has done so far and wants to support its further actions. While the VEB has a much broader and more general focus than the Foundation, the Foundation only focuses on representing Fortis investors and seeks the establishment of the truth and determination of Fortis’ liability, while assisting investors with their pursuit of compensation claims. Moreover, the vast majority of the VEB active members are individual retail investors in the Netherlands, while the Foundation is supported by 200 institutional investors (as of May 2014) from all over the world with collective assets under management of many trillion Euros. Hence, the focus of the Foundation and its membership is much narrower. The Foundation supports, however, the actions and initiatives of the VEB, particularly with respect to the Enterprise Chamber investigation, and is now seeking to support these initiatives by joining the EC proceeding.

How is the Foundation being funded?

While financial matters of the Foundation are not public, the Foundation is being funded in general by a consortium of law firms, who are representing and advising large institutional investors around the world and have been asked by their clients to pursue a search for the truth in the Fortis matter and assist with the implementation of better corporate governance at the “new” Fortis so that misinformation as in the past will not take place again.

Are the participants in the Foundation public?

The Foundation has decided for now not to publish the names of the participants in order to avoid any unnecessary publicity and distraction from the overall purpose of the Foundation to represent ALL investors in Fortis as opposed to just the participants.