Metrovacesa postpones the meeting for the 30th of June

Today the management team of Metrovacesa has informed the National Commission of the Value Market (CNMV) that they have decided to postpone the general stockholders meeting from the 3rd of June to the 27 and 30th of June, almost a month later than originally planned. Sources of the sector have informed Europe Press that the decision of the Board to delay this meeting responds to the intention of Bami, his main shareholder, to launch the Opa on the 10 percent of Metrovacesa, in order to fulfil the obligation imposed by the CNMV.

The institution that presides over Blas Calzada announced last 10th of May that the political rights will be suspended from this company in Metrovacesa so to consider that the 24.99 percent they have in the company, together with the shares they have in their own portefolio, will surpass the 25 percent of participation in the real estate company without sending it to a Public Supply of Acquisition (OPA).

The management team has also agreed to suspend the job of the president of Metrovacesa, Jaquim Riverom also president of Bami and various other advisors.
The resolution of the CNMV has forced Bami to launch an OPA of 10 percent of the company’s capital of Metrovacesa in order to recover its voting rights in the real estate company as well as the ratification of its president and advisors. Sources of the sector have informed the Europe Press that Bami has already worked on an offer which price CNMV has to approve in order to present this at the meeting.

Source: Europe Press

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