The trial of the application for annulment of a business combination deliberation between PT and Hi is scheduled for September, advanced Thursday to ATM association, warning that if that decision is void, will render the elements of commissions executive of Pharol.
in a statement on its website, the Association of Investors and Analysts Technical Capital Market (ATM) gives process the trial account as regards the application for annulment of corporate decision the extraordinary general meeting of September 8, 2014.
it was in this general meeting, recalls the ATM, which was adopted the resolution with regard to the terms of agreements between PT and Hi in under the business combination of the two companies “allowed the realization of exchange between the PT and the fully owned subsidiaries of Hi – PT Portugal and PT International Finance BV – under which PT acquires the credit position of the Rio Forte Investments society SA amounting to 897 million euros “.
the counterpart was the sale by PT of 474,348,720 shares oN (common) and 948,697,440 shares PN (preferred) of Hi representing about 16 9% of the capital of Hi and 17.1% of the Hi voting rights and allocation to PT of an irrevocable purchase option, non-transferable for a period of six years, yet located the ATM.
Now the ATM advances that “if such a decision will be considered void,” the association and the other authors in the process “will start proceedings against the former and current executive committees, including but not limited to (…) Luis Maria Viana Palha da Silva and Rafael Luís Mora Funes, “taking into account” that repeatedly urged the various boards so that they refrain from implementing “such resolution.
the ATM also refers in a statement that the these authors “have always understood that this business combination was a real free guarantee given for the benefit of Hi”, but also the BES, one of its largest shareholders, “so glaring with the vice of nullity” the same determination.
the association says it has been meeting on Wednesday with the president of the executive committee of Pharol, Luís Palha da Silva, to discuss the ongoing litigation involving directly the company and “that at least some shareholders” understood “take the firm and irrevocable commitment not to yield to any extrajudicial agreement to end the dispute. “
the ATM also states that there are ongoing proceedings to cancellation of company resolutions, including the one held in the assembly -Overall of January 22, 2015 that approved the sale of PT Portugal to Altice.
reveals that the ATM and some of the authors also showed intention to constitute assistants in the process known as “Marquess operation” for understanding to contribute for the discovery of truth in this.
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