Sonae Industria reported, In a statement released today with CMVMI asked the capital market regulator to withdraw from the exchange.
The document stressed that “following the decision taken at the general meeting of shareholders,” the company, led by Paolo Azevedo (pictured), “on this date, requested the Securities Exchange Commission, the loss of the status of a public company.” .
last June 28The Azevedo family, which controls more than 92% of the voting rights of Sonae Indústria through Efanor, has obtained approval from the AG to proceed with the company’s request for quality loss as a public company. To complete the process, submission of the application to the CMVM – which was done today – and approval by the regulator was missing.
As already informed when the general meeting was called, Efanor proposes to buy, within three months after the approval of the CMVM on the loss of the status of the public company, the shares owned by shareholders who do not vote for the deliberations at the general meeting.
The consideration applicable in the purchase of shares still in the hands of other investors and which express their willingness to sell to Efanor will be the same as those offered in the capital increase and in the OPA, in the amount of €1.14 per share. If investors want to hold their shares, they can do so, but they will have to continue to incur costs, such as keeping securities, and it may be more difficult to trade them, as they will have to do so off-market.
The Azevedo family now owns, directly and indirectly, 92.26% of the voting rights associated with the share capital of Sonae Indústria, last May, after a capital increase implemented by the company and after the family failed to reach sufficient voting rights to request delisting from the stock exchange under the takeover offer ( OPA) which was launched on the company last year.
This will be the second company in the world of Sonae to go public in less than 12 months, after the exclusion of Sonae Capital last November, after Efanor controlled 92.302% of the capital and 93.5% of the rights of the tourism company, after the end of the acquisition offer in October 2020.