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Sodim rejects illegal purchase of Semapa shares after OPA – stock exchange

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Sodim rejects illegal purchase of Semapa shares after OPA - stock exchange

The holding company of the Queiroz Pereira family has denied accusations by the small investor association Maxyield that it was illegal to buy shares on the stock exchange after the offer period ended on June 15. Sodim claims that all acquisitions are formalized and validated by the Brazilian Securities Market Commission (CMVM).

Sodim missed its target of 90% of Semapa’s voting power following the takeover bid that ended last Friday and retained control 81.326% of the capital (66.093765 shares), representing 82.752% of the voting rights. Although the family-owned holding company did not reach that threshold, it was delighted to move closer to achieving its goal of concentrating its stock exchange presence at Navigator, adding that it will continue to buy shares on the stock exchange at the bid price (€ 11.66) those who intend to sell in the coming days.

“According to the mechanism contained in the prospectus and duly approved by CMVM, Sodim will remain the buyer of Semapa shares until June 15 at a price of € 11.66 in cash,” Sodim said. The ad attacked by Maxyield also emphasized in a statement that “The OPA has ended and Sodim’s acquisition of Semapa shares is subject to a new OPA, which may take 12 months to complete.” “Maxyield also advises that any action by Sodim financial intermediaries to facilitate the purchase of Semapa shares will be legally liable and will alert Banco de Portugal that they are illegal.”
Faced with these allegations, Sodim came to a denial of the illegality of the acquisitions, stressing that “all the transactions he conducted under the OPA were obviously subject to the Portuguese Securities Code, as they were all previously confirmed by CMVM,” the statement said.

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In the same document in which he responds to the association’s allegations, Sodim points out “several gross errors in the interpretation of the rules of the Securities Code.” He immediately states that “the law does not prohibit Sodim from immediately continuing to buy more Semapa shares in or outside the regulated market. You are only prohibited from submitting new takeover bids for Semapa shares without prior permission from CMVM. ”

On the other hand, it says that “purchases on the stock exchange, which must occur within 5 business days after the calculation of the bid results, have already been included in the proposal prospectus, which has been approved by CMVM.”

Sodim also points out that “the second mistake is that whoever owns more than one third or half of the listed company’s share capital can only buy more shares through the OPA. In fact, what Article 187 CVM (Obligation to Launch a Public Offer of Acquisition) does is only an obligation to launch an OPA that exceeds the threshold of one third or one half of the listed company’s share capital, except through the OPA. ”

“In conclusion, any Sodim acquisitions of Semapa shares that may be made in the near future on the market or off the market, not only do not require a mandatory takeover bid, but are also permitted by law,” concludes the statement sent by Sodim.

Semapa shares continued to fall 0.34% at € 11.66 proposed by Sodim.

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Economy

These are the 10 most expensive products in the last week.

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These are the 10 most expensive products in the last week.

An analysis of the applied values ​​by DECO Proteste shows that the price of the basic food basket “is €207.80 this week, €24.17 more than it was on February 23rd”, but €1.21 less than in the previous month. a week.

From February 23 to September 21, meat has risen in price by 17.82% (up 5.75 euros), while pork chop today costs 25% more, that is, 1.11 euros.

As for fish, the consumer protection association points out that it is now 14.97% more expensive than before the Russian war against Ukraine, 9.03 euros more expensive.

The Consumer Protection Association monitors weekly prices for a basket of 63 staples, which includes items such as turkey, chicken, hake, horse mackerel, onions, potatoes, carrots, bananas, apples, oranges, rice, spaghetti, sugar. , ham, milk, cheese and butter.

This week, in the period from 14 to 21 September, the top ten products with the largest price increases were zucchini (up 10%), spiral pasta (up 8%), cereals (up 7%), plus 6%), Flemish cheese . (plus 5%), Biscuit Maria (plus 5%), orange (plus 5%), flour for cakes (plus 5%), tomato pulp (plus 5%) and horse mackerel (another 4%).

Looking at the period since February 23 this year, DECO Proteste shows that all food categories have shown price increases, with meat (up 17.82%) and fish (up 14.97%) standing out the most. However, there is also an increase in fruits and vegetables (up 14.65%), food products (up 10.23%), dairy products (up 11.15%) and frozen foods (up 2.48%).

In addition, the top 10 products that rose the most between February 23 and September 21 were broccoli (up 55%), cabbage (up 49%), whole chicken (up 33%), fresh hake (up 30%). %), cakes. flour (30% more), turkey steak (28% more), Maria cookies (27% more), pork chops (25% more), vegetable oil 100%, vegetable oil (plus 24%) and tomato pulp (plus 23%).

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This increase is explained by the fact that Portugal is “heavily dependent on foreign markets to guarantee the supply of cereals needed for domestic consumption”, which currently “represent only 3.5% of national agricultural production, mainly corn (56%), wheat ( 19%). %) and rice (16 percent).”

“And if in the early 1990s self-sufficiency in grain was about 50%, now the value does not exceed 19.4%, which is one of the lowest rates in the world and forces the country to import about 80% of grain. , notes DECO.

The organization explains that “the Russian invasion of Ukraine, where most of the grains consumed in the European Union come from, and Portugal has thus put even more pressure on the sector, which has been struggling for months with the effects of a pandemic and drought with a strong impact on production and stockpiling.

“Limiting the supply of raw materials and increasing the cost of production, namely the energy needed for agri-food production, can thus be reflected in higher prices in international markets and, consequently, in prices at the consumer,” he emphasizes.

In addition, he points out that “a consistent increase in consumer prices, namely for such products as fuel and food, contributes to an increase in the rate of inflation.”

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Economy

Luxury Algarve Resort Changes Owner Two Years Before Opening – Turismo & Lazer

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Luxury Algarve Resort Changes Owner Two Years Before Opening - Turismo & Lazer

Singapore’s sovereign wealth fund GIC, one of the world’s largest investors, has bought a majority stake in SIG, owner of a €2.3 billion luxury resort chain, Eje Prime reported.

SIG manages the Sani and Ikos Resort brands, which will debut in Portugal in 2024 with the opening of the country’s first resort in Albufeira. It will be the group’s sixth hotel in Europe with active resorts in Spain and Greece.

According to a Spanish real estate newspaper, the Singapore fund’s deal included the purchase of British Oaktree, Goldman Sachs and Hermes GPE shares in SIG. The deal is expected to close in the last quarter of the year, with Andreas Andreadis and Mathieu Guillemin continuing to lead the company as CEO and Managing Partner, with Stavros Andreadis as Honorary Group Chairman.

The entry of the Singapore Fund will allow SIG to fulfill its plans for the next five years, which include investments of more than 900 million euros in new units in the Mediterranean.

SIG was established in 2015 and today owns ten resorts in Greece and Spain, with a total of approximately 2,750 rooms and suites.

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Economy

Do you have a diesel car and need to fill up? wait for monday

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Do you have a diesel car and need to fill up?  wait for monday

From this Monday, fuel prices will fall again, but this time only in the price of diesel fuel: in the main national oil companies, “the evolution of quotations in euros indicates a drop in prices to 2 cents per liter of diesel fuel, while 95th gasoline will maintain the registered price,” an industry source told Multinews.

The trend is also being replicated at private brand gas stations, which usually operate near hypermarkets, with “a sharp drop of 0.0187 euros per liter for diesel, while gasoline 95 will register the same trend, albeit slightly, 0.0025 euros – another source said.

So after all, filling a tank with 60 liters of diesel fuel costs 1.2 euros cheaper. In the petrol version, there is no change in the travel time to the service station.

According to official figures from the DGEG (Directorate General of Energy and Geology), both diesel and petrol 95 have been declining for four consecutive weeks. Recall that last week diesel fuel kept a higher price than gasoline 95 (1727 euros/l against 1695 euros), and this week this difference will disappear.

Also, according to DGEG data, the average price of regular diesel this Thursday was 1.752 euros per liter, while the average price of regular gasoline 95 was 1.693 euros per liter, indicating a downward trend. Average prices are based on data provided by over 2,400 stations across the country and include discounted prices.

This fuel price update takes into account the cost of a barrel of Brent oil on international markets. A barrel of oil has been trading at a low level for several weeks now. After peaking in the early days of the war in Ukraine, when oil hit $140 a barrel, fuel prices soared to record highs, the price of this “black gold” is now lower.

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