Despite the measure applied to the BES August 3rd, the 14th resolution BlackRock now has only 1.91%. Before that, had 4.49%.
Banco Espirito Santo was suspended from stock exchange on August 1. Despite this, and an OTC transaction, BlackRock divested of much of the voting rights it held in that bank.
The sale by the management of American funds occurred outside purse, August 14. “The BES informs that it has received a communication from BlackRock on disposal of voting rights which resulted in a reduction of the percentage of votes for a threshold below 2%,” says a document issued by that entity in the Commission’s Securities Market site securities.
According to the document, “the total number of voting rights shall correspond to 1,076,807, corresponding to the sum of 1,059,434 voting rights attached to shares and 17,373 voting rights associated with CFDs ['contrats for difference'], that leverage the equity trading], and the total percentage of voting rights of 1.91%. “
Early July , a qualifying holding in BlackRock BES had been reduced to 4.49%. The 5% had been overcome in February.
Notice of disposal of voting rights to 14 August shows that there was a change in the allocation of voting rights already after the resolution as applied to the BES. On 3 August, the Bank of Portugal determined the end of that institution as a bank, dividing it into bridge bank, which holds the assets considered good, and financial vehicle, who got those deemed problematic. The shareholders of the old BES were in financial vehicle, but the shares traded in the regulated market remained suspended.
Do not know how this was possible disposition occurs or if the change of voting rights by the BlackRock already provided by the form of ownership of the shares (if shares were borrowed from another entity or “swaps” for example). The Business received no explanation from the Bank of Portugal, CMVM or BES and could not be contacted BlackRock.
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