The major shareholder controls this pig. Agree on cash on hand and valuation but am confident they will eventually find a way to make all that go away as well. I'm holding here and have added. Almost have to due to current losses. See below:
At December 31, 2015, Vereniging Aegon (external link) owned 292,687,444 common shares, which equates to approximately 14% of Aegon's common shares.
In the Voting Rights Agreement (external link) Vereniging Aegon voluntarily agreed to waive the full voting rights on the common share B except in certain circumstances, which qualify as Special Cause. These circumstances may include a hostile takeover bid for all or part of the company. In the ordinary course of business, Vereniging Aegon may cast one vote for 40 common shares B it holds. In case of a Special Cause, Vereniging Aegon may cast one vote for every common share B it holds, resulting in a Special Cause voting right of 32.6%. Vereniging Aegon owned 581,325,720 common shares B per December 31, 2014.
Furthermore, in the Amended 1983 Merger Agreement (external link), Vereniging Aegon was granted a call option to keep or restore its total stake at 32.6% in Special Cause, irrespective of the circumstances that caused the Special Cause shareholding to be or become lower than 32.6%.
Keep buying more to average down but it seems this POS will never have a run up of it's own. I've long felt the insiders must benefit someway at the expense of the rest of us. Most of their profits (if you want to use that word) come from Transamerica (USA) yet seemingly no credit comes from that in the market. Once a very powerful brand (Transamerica) itself has been almost forgotten due to Aegon's lack of market understanding. Does anyone out there have real concerns about a AEG's future? It's dividend?