Boskalis Holds Annual General Meeting of Shareholders (The Netherlands)

At yesterday’s Annual General Meeting of Shareholders of Royal Boskalis Westminster N.V. the annual report 2011 has been approved, as well as the re-appointment of one of the members of the Supervisory Board.

Furthermore, the meeting adopted the dividend proposal of EUR 1.24 per share.

Re-appointment

Mr. M.P. Kramer has been re-appointed as member of the Supervisory Board for a period of four years.

Dividend

The Annual General Meeting of Shareholders approved to distribute a dividend of EUR 1.24 per share in the form of ordinary shares, unless a shareholder opts for cash dividend. This option period will commence on 17 May 2012 and end on 29 May 2012. Payment of the dividend will take place as of 6 June 2012.

Other agenda items

All other agenda items that required voting were passed.

Enlargement of the Board of Management

In light of the growth of the Company as a result of the acquisition of Smit Internationale N.V. (“SMIT”), the Supervisory Board has decided to increase the number of members of the Board of Management of Boskalis from three to four. After the notice of the Annual General Meeting of Shareholders, the Supervisory Board appointed Mr F.A. Verhoeven as member of the Board of Management with effect from 10 May 2012 for a period of three years.

Mr Verhoeven started his career with the Boskalis in 1975, where he held various functions. On 1 September 2004 Mr Verhoeven joined the Group Management of Boskalis. Since 17 September 2010 Mr Verhoeven also fulfils the function of chairman of the management team of SMIT.

The addition of Mr Verhoeven to the Board of Management will bolster the expertise and experience of the Board of Management. Furthermore the specific experience Mr Verhoeven gathered at SMIT, will contribute to the further integration of Boskalis and SMIT and the continuation of the growth and expansion of Boskalis.

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Dredging Today Staff, May 11, 2012; Image: Boskalis