Dutch sustainable bank Triodos is to offer the holders of its depository receipts €10 per receipt in compensation for their plunge in value.

The bank said on Friday it is taking a €101 million pre tax provision over last year to pay for the settlement, and expects this to have a “significant impact” on its profit for the year.

“Triodos bank expects its 2024 financial results to be close to breaking even and no final dividend to be paid for 2024,” the bank said.

The aim of the deal is to “address the dissatisfaction experienced by depository receipt holders, rebuild trust and allow for full focus to return to the future of Triodos bank and its pursuit of positive impact.”

The receipts were worth €84 at one point, but have since plunged to €26. Certificate holders who accept the offer will not be able to go to court to try to win more.

A foundation of receipt holders has backed the offer, saying it is in the best interests of the bank and receipt holders. “The size of the financial compensation is the maximum we could achieve,” the foundation said in a statement.

Triodos will publish its 2024 figures on March 13.

Triodos is currently working on plans to list its depository receipts on the Amsterdam stock exchange, after winning approval from holders last year.