Sacyr Vallehermoso exercises minority deadlock at Eiffage shareholders' meeting (ES)

Sacyr Vallehermoso group (SyV) has attended to the Eiffages General Meeting Shareholders that took place in Paris last Wednesday. SyV is and will continue to be Eiffages leading shareholder with 32.1% of the capital.

For this reason, SyV has voted favorably for the resolutions which support the companys future: annual financial statements, payment of dividend, renewal of directors, among other resolutions of the general meeting; and the shares split among other resolutions of the extraordinary meeting.

Notwithstanding the above, SyV has voted against the resolutions presented on the extraordinary side of the general meeting: retirement of treasury stock, reduction to five days of the mandatory deadline for reporting to the company the purchase of 1% of its capital and non-monetary capital increase. SyV believes that these purely defensive resolutions go against the companys interests.

Despite the rejection of its request to appoint directors at Eiffage in line with its stake, SyV plans to perform fully its rule as largest shareholder and will continue with its conversations with Eiffage.

Source: Sacyr Vallehermoso

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