Deviations from the ‘One Share, One Vote’ Principle in the Netherlands. Legal and Empirical Considerations

In this article, we examine the legal and practical landscape for multiple and loyalty voting structures under Dutch company law. We first outline the mechanisms available to listed N.V.s, focusing on dual-class and loyalty shares. We then provide empirical insights into how these structures are used by Dutch companies listed domestically or abroad. Finally, we assess the likely impact of the EU multiple voting shares (MVS) Directive on the Dutch framework and conclude that major changes appear unlikely given the current legislative stance.