Nuon Energy Public Assurance Foundation
Nuon Energy and Vattenfall agreed that for a minimum period of eight years following 1 July 2009 the Nuon shareholders will see to it that certain public assurances are guaranteed. For example, continuation of its current long-term strategy regarding renewables, continuation of branding strategy in the Benelux, and maintenance of headquarters in Amsterdam. The Nuon Public Assurance Foundation serves to fulfil this role.
Members
The foundation consists of three members. One member is nominated by the former Nuon shareholders and a second by Vattenfall. A third member, to be the chairman, shall be nominated by the other two members.
Binding advice
An intended decision, action or omission of Vattenfall that could be in contravention of the Nuon Public Assurances can be submitted, amongst others by the shareholders, to the Nuon Public Assurances Foundation for review. The foundation can render a binding advice, limited to:
- take the decision or action;
- reverse the decision or action, or, if not yet taken, not to take such action or decision and correct any non-compliance.