Press Room

Press Room

Contact for press

You can contact us by:

Marián Ariza Communication Department.

Media Kit

Follow us on:

Keep up-to-date on the latest at the Abengoa website:

October

Abengoa’s Extraordinary Shareholders’ Meeting does not reach the necessary quorum to vote for the proposed split

October 2, 2018

  • The call of the Meeting was made at the request of a group of shareholders led by Inversión Corporativa IC, S.A,
  • Previously, the Board of Directors recommended voting against this measure, in accordance with a requirement of the CNMV.

Abengoa (MCE: ABG/P:SM), the international company that applies innovative technology solutions for sustainability in the infrastructures, energy and water sectors, had called for the celebration today (on second call) of an Extraordinary Shareholders’ Meeting, which has not been validly held since the necessary quorum has not been reached.

The call for this meeting was made in strict compliance with articles 168 and 495 of Spanish Corporation Law, as it was requested by a group of minority shareholders holding 3.0001% of the share capital of Abengoa (sufficient minimum and required for it).

Inversion Corporativa IC, S.A., Finarpisa S.A. and Mrs. Blanca de Porres Guardiola requested the vote on a proposal to split the shares A and B of the company (ten new shares for each old one in both classes). Consequently, since the Meeting was not constituted, the vote did not take place.

Previously, after the announcement of the Meeting, the Stock Market National Commission sent a request to Abengoa in which they indicated that the measures proposed by these shareholders, in the event that they were successful, "would suppose to prolong the current situation of disorderly negotiation of the shares and pricing on artificial levels”. Likewise, they indicated in this communication that, it if the split were approved, they would reserve the right to adopt certain measures.

Along the same lines, Abengoa's Board of Directors estimated that the measures could have a negative impact on the liquidity and the orderly negotiation of the company's shares.

In this regard, we must remember the concern in the company, which in its Ordinary General Meeting of 2017, Abengoa previously proposed to its shareholders the opposite measure: a reverse split or consolidation of shares, with the aim of reducing the number of shares in circulation, which had increased significantly with the execution of the capital increases resulting from the company's financial restructuring. However, this measure was not held to vote in 2017 due to a lack of quorum.

About Abengoa

Abengoa (MCE: ABG/P:SM) applies innovative technology solutions for sustainability in the infrastructures, energy and water sectors. (www.abengoa.com).

Communication Department:

Marián Ariza

Tel: +34 954 93 71 11

E-mail: comunicacion@abengoa.com

Investor Relations & Capital Markets:

Gonzalo Zubiría

Tel: +34 954 93 71 11

E-mail: ir@abengoa.com

Redes sociales

And on our blog: http://www.theenergyofchange.com

Share this news


© 2011 Abengoa. All rights reserved