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Trioforum Belgium by Bernard Poncé


18 mei 2024

Declaration for the attention of SAAT and Triodos Bank

Bernard Poncé, for Trioforum 15 April 2024 Declaration for the attention of SAAT and Triodos Bank ( translation - Only the French text is authentic)


Ladies and Gentlemen,

The presentation document for the certificates issued by the bank in Belgium in 2005 stipulates in the "general conditions" :

  • that share certification guarantees the bank's independence ;

  • that the certificates are not listed on the stock exchange but can be traded through the bank;

  • that the price of the certificate is not determined by supply and demand but by its intrinsic value;

At least since 2020, the bank's management has not developed the certificate : it has completely distorted its underlying meaning by holding its shareholders hostage, no more, no less.

Today, by buying a certificate on any stock exchange, I am no longer financing the bank, which was my primary objective in contributing to a more vibrant world. No, either I am impoverishing an unfortunate holder who, by force or out of spite, is forced to sell his shares, or I am enriching a well-informed speculator. In fact, for reasons that can no longer be considered as reactions to circumstances beyond your control, all you are doing is increasing speculation around the share, which was already well underway with the crazy choice of Captin, where some people have already been able to make a profit of more than 50% in just a few months on the backs of duped former holders!

In this sense, I cannot endorse the autocratic decisions of a bank that congratulates itself by changing the nature of a dividend that it is happily fattening up. What was once synonymous with a reasonable return is now seen as acquiescence to your capitalist methods, which may be flamboyant in their reports, but which, through social cutbacks and other reductions in 'costs', particularly human costs, put you on the same footing as a conventional bank. The most lamentable thing is that you want to awaken the basest instincts, including those of profit and cowardice in the face of the ideal of fairness and justice. Do you take me for a Matthew? You insult me, and with me, those men and women who categorically reject your solutions, which are not solutions at all.

In response to your attitudes, and on behalf of Trioforum, I have had to launch an appeal for justice, which I regret, but which is intended to defend both our honour and the pride we have in having chosen to support a different banking institution, one that is unfortunately now being led by a management that is notoriously incompetent in human and communication terms, and which blithely mixes derogatory cynicism with

appalling amateurism. With these two tired horses driving Triodos, I believe it is essential to change the team and the charioteer to steer the bank towards a more serene future. You can be sure that I will use all my time to achieve my goal, because it has become a question of salvation for the bank and its shareholders.

I am well aware that some of my fellow fighters will not agree, always preferring discussions with the very people who got them into this mess in the first place. But they shouldn't be surprised if they're taken for a ride! And if, after all the inconsistencies they've had to deal with, they believe that Euronext is finally the least bad solution to their problems, they've got another thing coming. Finally, if they think that you are going to give them any financial compensation of your own free will, then they are downright naive.

In short, it's time to put an end to this charade, by bringing to the forefront a bank that is viable, real, different and a bearer of the sustainable values we want to pass on to our children. A bank they can count on for a long time to come.

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