BCP meets to change the boundaries of voting – Observer

THE BCP presents the results until September, on the same day that the shareholders will decide, in the shareholders ‘ meeting, to change the limits of votes of the bank, when the chinese group Fosun negotiating its entry in the capital.

The meeting magna starts at 14:30 (Lisbon time) at Taguspark, in Oeiras, going to the shareholders to decide about the maintenance or the end of the limits to the counting of the votes contained in the statutes of the BCP and that any shareholder is currently prevented from voting with more than 20%, regardless of the participation it holds in the bank.

if you keep the limit of voting rights, the shareholders will also be called upon to decide if this remains in the 20% or if it will be changed to 30%.

In the documents which accompanied the notice convening this meeting, the four main shareholders of the bank – angolan oil company Sonangol (17,84% of the share capital), Spanish bank Sabadell (5,07%), the EDP Group (2,56%), and Group inter-oceanic (2,05%) – considered that "it is manifest social interest that the bank may continue to have, as it has done for more than 20 years, a clause of limitation of vote counting that will provide protection and greater balance of the various positions of shareholders", but argue that the limit is changed.

So, instead of 20% proposed that the limit on the pass to 30% of the share capital.

This change to the limits of the vote is seen as crucial for that to become effective the entry as a shareholder of BCP, the chinese group Fosun, which already has in Portugal in the Light of Health and the insurer, Fidelity.

The information disclosed to the market indicates that Fosun may be a position of 16.7% of the bank, which may increase to between 20% and 30%, depending on the limits of voting existing in the database.

After the general assembly today, the BCP sets out the results achieved up to September, after the first half of the year the bank had losses of 197,3 million euro after having made a reinforcement of impairments, particularly to credit.