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Stichting Paeonia foundation (the Paeonia foundation) was incorporated as a foundation (stichting) under the laws of the Netherlands on the November 11, 2021.
According to its articles of association, the statutory purpose of the Paeonia foundation is to support higher education programs.
At present, the Paeonia foundation has its offices at:
De Boelelaan 7, 7th Floor
1083 HJ AMSTERDAM
Its telephone number is +31 (0)20 708 5774
The Paeonia foundation is registered with the Dutch Chamber of Commerce under number 84476885.
The RSIN (Rechtspersonen en Samenwerkingsverbanden Informatienummer) or fiscal registration number of the Paeonia foundation is 863226280.
Upon the incorporation of the Paeonia foundation, initially the following board members (the Trustees) have been appointed:
Inês Tavarela Coutinhas, who will be acting as chairman (voorzitter).
Peter Martijn Bogaard, who will be acting as secretary-general (algemeen secretaris).
Duarte Barbarosa Teixeira de Melo, who will be acting as treasurer (penningmeester).
The Trustees will not be compensated for serving as a board member, except for reasonable costs imbursements.
In principle, the Trustees will meet regularly both in Porto and Amsterdam, as well as electronically as and when required.
The legal mechanism of the Paeonia foundation does safeguard that neither the Trustees nor any other persons could dispose of the assets of the Paeonia foundation as if these assets were owned by such Trustee or other person.
Firstly, the articles of association provide that the board of the Paeonia foundation consists of at least three board members and that all decisions of the board (including decisions in relation to the disposal of the assets of the Paeonia foundation) require an absolute majority of votes.
Secondly, the articles of association provide that board members shall either have the title board member A or board member B and that the authority to represent the Paeonia foundation shall vest in a board member A acting jointly with a board member B or with the board as a whole.
The above arrangements ensure that none of the Trustees can dispose of the assets of the Paeonia foundation acting alone, both as regards the internal decision making process and where the external representation of the Paeonia foundation is concerned.
At this early stage of its existence, the Paeonia foundation does not yet have a Supervisory Board (Raad van Toezicht). However, as the activities of the Paeonia foundation expand gradually, it may well be considered to establish a Supervisory Board in due course.