The investment fund GreenOak has launched a massive stock purchase plan to remove its Socimi Go Madrid Benz from the stock market. Following a proposal made by the Board of Directors to the General Shareholders’ Meeting to exclude the company from listing on the Alternative Stock Market (MAB) and to offer a price of 0.99 euros per share to the minority shareholders who do not vote in favour of the exclusion agreement, the Socimi’s majority shareholder has decided to make a purchase order on the shares at the same price.
As the Socimi explained through the MAB, “the purchase order aims to give minority shareholders in the Company the option to sell their shares even before the Extraordinary General Shareholders’ Meeting is held, which is scheduled for 4 June 2020, on first call”.
