KBC Ancora recorded a profit of EUR 69.1 million in the first half of the financial year 2019/2020 Brussels Stock Exchange:KBCA
* No instruments have been issued which could lead to dilution. KBC Ancora recorded a positive result of EUR 69.1 million in the first six months of the current financial year, equivalent to EUR 0.88 per share, compared with a positive result of EUR 68.7 million in the same period in the previous financial year.The result consisted primarily of the interim dividend received from KBC Group (EUR 77.5 million), interest charges on debt (EUR 7.2 million) and operating expenses (EUR 1.2 million). In effecting this transformation, use was made of the opportunities offered by a (‘new-style’) public limited company structure to assign the same rights in the Articles of Association to the sole director as in a partnership limited by shares (SCA), so that amending the legal form has no impact on the anchoring structure. As has been the case since the company was first listed in 2001, the mandate of the director appointed pursuant to the Articles of Association may only be revoked if there are lawful grounds for doing so, and the consent of the director is required for decisions to amend the Articles of Association, decisions to make distributions to shareholders and decisions to dismiss the sole director. On 29 November 2019 Herman Vandaele, who has been an independent director since 2010, was appointed Chairman of the Board of Directors of Almancora Société de gestion, statutory director of KBC Ancora.