Legal Structure
Nuon Energy is an unlisted Dutch NV (Plc) which is subject to the large company regime referred to in articles 2:158 to 2:164 of the Dutch Civil Code. Therefore Nuon Energy has a two-tier management structure with a Management Board which performs executive functions as well as a Supervisory Board which advises and supervises the Managing Directors.
Shares
On 1 July 2009 Vattenfall AB initially acquired 49% of the shares of Nuon Energy. On 1 July 2011 Vattenfall AB acquired an additional 15% of the shares, consequently the total percentage of shares of Nuon Energy held by Vattenfall AB amounts to 64%. The remaining 36% of the shares, as currently still owned by the Dutch provinces and municipalities, will be acquired by Vattenfall AB in the subsequent four years under fixed terms.
Organisation structure
As of 1 January 2011 Vattenfall is organized in five Business Divisions:
- Distribution & Sales
- Production
- Renewables
- Asset Optimization & Projects
- Asset Developement
The core of Nuon Energy’s business are part of these Business Divisions. Furthermore several staff functions are organized in Staff Functions.
The Dutch activities of the Business Divisions are part of the legal entity N.V. Nuon Energy.
Articles of Association of N.V. Nuon Energy
The articles of association of N.V. Nuon Energy were most recently amended on 30 June 2009 as approved by the General Meeting of Shareholders.