This Ferrovia Shareholders MeetingHE77.69% of the participants were present and represented, Approved the transfer of the headquarters From Spanish infrastructure company to Netherlands Finally, the Board of Directors met the quorum to close the approval of one of the most controversial business decisions of recent years.
As soon as the decision is published in the Official Gazette of the Trade Registry (Borme), a window opens with shareholders dissatisfied with the decision to leave Spain. may demand the repurchase of their shares.. Ferrovial agreed to pay 26 euros for each title and allocated a budget of 500 million for this purpose. This amount corresponds to 2.57% of the capital. This means that if more than this percentage requests a repurchase, the company headed by Rafael del Pino must reconsider the operation.
But, It is unlikely that a large number of shares will request redemption.. Because? At market close yesterday, the company’s shares were trading at 27.14 euros, 4% above the amount it agreed to pay. From Ferrovial, they believe that if any of the partners do not agree to change their headquarters to the Netherlands, they will sell their stake in the market until the celebration, in the weeks since the Board of Directors’ announcement (28 February). Get installed.
When will the transfer close?
They anticipate completing their transfer to the Netherlands, as confirmed by the company itself in a meeting with investors. Between the second and third quarter of this year. Given the month Ferrovial has given its shareholders to seek reimbursement, it won’t be able to start the move before mid-May, which will delay the operation to June.
One of the goals of the company, led by Ignacio Madridejos, is to: operates with two headquarters, one called the legal and the other operational headquarters, as announced by Activos, the economic supplement of Prensa Ibérica. With this move, Ferrovial would reassure the Government and shareholders who were dissatisfied with the decision.