Reverse share split
An amendment to Kendrion’s Articles of Association on 11 April 2007 effected a reverse share split by which blocks of ten shares with a nominal value of EUR 0,20 each were consolidated to form one new share with a nominal value of EUR 2,00.

Issue
On 29 September 2009, Kendrion N.V. issued 1,028,750 new shares (9.99% of the outstanding capital at that time) to eight major shareholders. As a result of this issue, the total number of outstanding shares amounted to 11,316,374 shares as of 29 September 2009.

Stock dividend
On 16 May 2011, 176,151 new shares were issued as stock dividend, as a result whereof the total number of outstanding shares amounted to 11,492,525 shares as of that date. 

On 10 May 2012, 155,675 new shares were issued as stock dividend, as a result whereof the total number of outstanding shares amounted to 11,648,200 shares as of that date.

On 9 May 2013, 133,113 new shares were issued as stock dividend, as a result whereof the total number of outstanding shares amounted to 11,796,755 shares as of that date.

On 10 May 2013, 1,051,391 new shares have been issued through an accelerated bookbuild offering, as a result whereof the total number of outstanding shares amounted to 12,848,146 shares as of that date.
 
On 14 May 2013, 114,130 new shares have been issued to the sellers of Kuhnke AG as part of the acquisition structure, as a result whereof the total number of outstanding shares amounts to 12,962,276 shares as of that date.