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HomeLatest NewsAlmost 6% of Ferrovial shareholders are against the transfer

Almost 6% of Ferrovial shareholders are against the transfer

Date: October 1, 2023 Time: 14:41:49

The vote for the corporate restructuring and cross-border merger proposed by the Board of Directors of Ferrovial has been voted against by 5.79% of the company’s shareholders, a process that casts doubt on whether Rafael del Pino’s company will complete his plans to relocate the company to the Netherlands due to the high cost that shareholders who have voted against exercising their right of separation could entail.

The construction company reserved 500 million to repurchase the shares of those who have rejected the move, although it opened the possibility of increasing this amount in the event that the dissenters exceeded 2.5% of the agreed capital. In the event that those who have positioned themselves against it opted for the sale of their titles, the amount paid by Ferrovial would amount to 846.9 million euros.

In order for the shareholders to be able to exercise the right to separate, they must maintain the shares, without parting with them in the market over the next month. The volume of registered votes against opens a period of uncertainty about the merger process, aggravated by the even higher percentage of votes against FISE’s new remuneration policy, which has received the refusal of more than 10% of the capital.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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