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AFM notified of transactions in KPN shares and options by Marcel Smits
Den Haag, 15-6-09
The Netherlands Authority for Financial Markets (AFM) has today been notified that Marcel Smits has sold part of his KPN shares and options on 12 June 2009. He has exercised 316,076 options previously granted under KPN’s long-term incentive plan and subsequently sold the shares. Furthermore, he has sold 15,500 KPN shares and 400 option contracts which he had bought privately. Mr Smits executed the transactions for personal reasons and acted in accordance with KPN’s insider trading procedures.
On 19 May, KPN announced that Mr Smits, CFO of KPN since September 2004, informed KPN of his wish to leave the company because of his desire to pursue his career in a more internationally-oriented environment. The precise timing of his departure has yet to be determined and the Supervisory Board is currently consulting with the Board of Management on a successor.
