Shareholders voting against the transfer of the company’s headquarters railway from Spain Holland they can withdraw from their capital within a month, The merger agreement, which was decided at the 13th shareholders’ meeting, was published in the Official Gazette of the Trade Registry (BORME) today.
This agreement, which provides Cross-border merger in which Ferrovial will be acquired by Dutch subsidiary FISEit was also approved by the plenary session, as the group led by Rafael del Pino disclosed to the National Securities Market Commission (CNMV).
One of the basic conditions for performing this operation is separation rights Shareholders who voted against this transfer It does not exceed 500 million euros.
As expected, Leopoldo del Pino what’s that? fourth shareholder group with 4.15%.voted against this article, although he is not expected to exercise his right to leave, if he does, he will have around 800 million euros for his entire participation.
Transition to the Netherlands supported by 93.3% of the board vote and excluding the rejection of Leopoldo del Pino, only 0.29% of the votes rejected this registered office change.
Currently, it is not profitable to take advantage of this option, because Ferrovial agreed to pay €26,0075 per share to shareholders who want to exit the capital, the titles of the group have increased by 13% since the beginning of the year and are trading at approximately 27.6 Euros.
Banco Santander as representative organization
Ferrovial appointed Santander Bank As an intermediary institution for the management of the separation procedure, may be exercised with all or part of the shares held by the shareholders. The merger will take effect at 00:00 on the day following the signing of the merger agreement in the Netherlands.
In addition to critical shareholders, legitimate Ferrovial creditors have one month to exercise their right to oppose the transaction. No FISE creditor exercised its right of appeal.
If all goes well, Ferrovial will be absorbed by the Dutch subsidiary FISEHE will inherit all assets and liabilities. Like this, Ferrovial will deflate upon dissolution. and from January 1, everything will be under the umbrella of FISE with accounting applications.
Shareholders will exchange one FISE share for each of their Ferrovial shares, and FISE will be called Ferrovial SE.
After the merger goes into effect, around the second term, FISE will require that its shares be accepted for trading on the Amsterdam Stock Exchange. and on the Spanish stock markets. It will then do the same in the North American market.
Source: Informacion
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