MASMOVIL approves Main Stock Market listing
(Thomson Reuters ONE) -
* MASMOVIL will become the first Spanish company to move from Spain's
alternative market (MAB), to the Main Market.
* The company's share price has grown twenty-fold over the period of its MAB
listing.
San Sebastián, June 22(nd), 2017. - By a large majority, the Ordinary General
Meeting of Shareholders' of MASMOVIL (MAS.MC) approved today the delisting from
the junior market (MAB) and the request for admission to trading on the Spanish
Main Market.
This means MÁSMÓVIL will become the first Spanish corporation to move from
Spain's alternative market (MAB) to the Main Market, representing a new
milestone for the Company. This change is expected to significantly improve the
interest of analysts and institutional investors in MASMOVIL.
"Once again, we are very pleased to achieve the unconditional support of our
shareholders to be listed on the Spanish Main Market - and this will no doubt
benefit them. We expect the process to be formalized during July. It will allow
us to boost growth and continue investing in our fixed and mobile broadband
networks", said Meinrad Spenger, CEO of MASMOVIL.
The adequacy to the stock market
In this context, in recent months MASMOVIL has modified Corporate Governance
procedures and the Board of Directors and subsidiary bodies, as well as adapting
management and employee performance to the rules applying to listed companies
and to the recommendations on good corporate governance.
All of these changes including, among others, the amendment of MASMOVIL's Board
of Directors Regulations governance and Committees, the approval of Internal
Regulations governing Conduct, other stock market rules, as well as regulatory
compliance policies and procedures, has already been drawn today to the
attention of the Ordinary General Meeting of Shareholders.
These actions are framed in the Company's and the Board's commitment to best
practices, keeping in mind the main objective is to generate value for MASMOVIL
stakeholders, as well as the trust and transparency of shareholders and
investors.
Successful track record in the Spanish alternative market - MAB
Since 2012, MASMOVIL has been listed on the junior market (MAB) where the stock
has had an excellent track record. Over this period, the share price has grown
twenty-fold. So far this year, the stock has risen over 110%, which has
positioned the Company's capitalization to over one billion euros, becoming the
largest company in stock value, revenues and EBITDA in the Spanish junior
market.
Moreover, during the period on the this market, MASMOVIL has carried out two
capital increase operations amounting to 20 and 160 million euros, the largest
in the history of the MAB.
"I would like to highlight the importance of listing on the MAB for the history
of MASMOVIL, in order to have more visibility and access over the equities
market", said Meinrad Spenger. "This market has always been at the heart of our
business to collect the resources needed for the Company's growth", he added.
About MÁSMÓVIL Group
MÁSMÓVIL Group is the fourth largest converging telecommunications operator with
their own fixed and mobile infrastructures in the Spanish market- Through their
brands Yoigo, Pepephone, MÁSMÓVIL and Llamaya, the company provides universal
services - fixed, mobile, ADSL, fiber, datacenter and value added services - to
multiple segments such as residential, business and mobile network operators. In
2016, the company reached almost 4.4M clients.
The Group runs infrastructures of fiber/ADSL fixed networks and 3G and 4G mobile
networks. Today, it has 7 million marketed homes with optical fiber and 18
million with ADSL. The Group's 4G mobile network covers 85% of the Spanish
population.
For more information
Mario Paradinas / Isabel Hernández
KETCHUM
mario.paradinas(at)ketchum.com/ isabel.hernandez(at)ketchum.com
Telephone: (+34) 91 788 32 00
MASMOVIL approves Main Stock Market listing:
http://hugin.info/174274/R/2115185/804800.pdf
Historical MasMovil Marketprice (Jan 2015 - Jun 2017) :
http://hugin.info/174274/R/2115185/804803.png
MASMOVIL approves Main Stock Market listing (photo):
http://hugin.info/174274/R/2115185/804802.JPG
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: GRUPO MASMOVIL via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 22.06.2017 - 17:26 Uhr
Sprache: Deutsch
News-ID 549433
Anzahl Zeichen: 5274
contact information:
Town:
Madrid
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 278 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"MASMOVIL approves Main Stock Market listing"
steht unter der journalistisch-redaktionellen Verantwortung von
GRUPO MASMOVIL (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
