Madrid, Nov 30 (EFECOM) .- Abengoa shareholders who promoted the removal of the board of directors have requested urgent action from the National Securities Market Commission (CNMV) in order to prevent outgoing directors from continuing to act from the subsidiaries to carry out the group’s restructuring plan.

These shareholders, grouped in AbengoaShares (14% of the capital), have sent a letter to the stock market supervisor requesting their action against the request of the outgoing board of Abengoa SA, (parent company of the group), chaired by Gonzalo Urquijo, to continue with the plan restructuring, which was rejected by the same board that removed the council.

This plan foresees, among other issues, that the participation of Abengoa shareholders in Abenewco (the holding company of the group’s assets and businesses) will be reduced from 78 to 2.7%.

Abengoa SA has been without the highest governing body since November 17, as the then president of the company, Gonzalo Urquijo (who continues to lead Abenewco), rejected the board of directors proposed by critical shareholders because he understood that his candidacy was submitted after the deadline.

“Abengoa does not have a board, but it does have owners, and the owners spoke loud and clear on November 17,” according to AbengoaShare, which has required the directors of the subsidiaries to “not take measures contrary to the agreements adopted (in meeting ), reminding them that they must be accountable to the true owners. “

In their letter to the CNMV, AbengoaShare shareholders condemn the “social loss” in which Abengoa SA is found and denounce that it is due to a “conscious and deliberate” decision of the outgoing board.


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