Royal
Royal BAM Group
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The BAM share

Stock listing
The Royal BAM Group shares are listed on the Euronext Amsterdam stock exchange since 1959. The ordinary share BAM is a constituent of the Amsterdan Stock Exchange (AEX) index since September 2008. The share is also a constituent of the Euronext Next-150 Index and the Dow Jones STOXX 600 Index. In addition, options on Royal BAM Group shares are traded since 2006 on Liffe, the derivatives business of Euronext.

For share price and stock market information please consult 'Share price'.

In addition to ordinary shares, cumulative financing preference shares are also listed on Euronext Amsterdam. On 26 October 2004, the depositary receipts of the cumulative financing preference shares have been cancelled. Since then the underlying shares can be traded.

Movement in number of outstanding shares
The number of outstanding ordinary shares has increased during 2008 with approximately 4 percent to approximately 135.2 million shares. This increase is the result of the conversion during the financial year of convertible financing preference shares into ordinary shares.

The remaining number of outstanding convertible financing preference shares amounts to approximately 0.4 million shares at year-end 2008. The number of outstanding non-convertible financing preference shares amounts to approximately 0.5 million shares at year-end 2008. The intention is to repurchase all the remaining non-convertible financing preference shares, after which the listing of those shares can be terminated. As at 31 December 2008, 390.000 shares have been repurchased.

For an overview of the largest shareholders please consult 'Share ownership'.

Volume of trade
The liquidity of the ordinary share Royal BAM Group has further increased during 2008. The number of ordinary shares traded showed an increase during the financial year of more than 33 percent, bringing the total to 288.4 million shares (2007: 216.3 million). The average daily trade in 2008 was 1,126,000 ordinary shares (2007: 848,000).

Number of ordinary shares traded (2008) - daily average
(x 1,000)

Liquidity provider
ABN AMRO Bank, ING and Rabo Securities act as liquidity providers in the trade in ordinary shares.

Version date: 17 April 2008