#100761
Re: Cobas AM: Nueva Gestora de Francisco García Paramés
Aryzta investor VERAISON welcomes strengthening of BoD; pleased with significant progress, to remain invested
16 DEC 2020
Aryzta investor VERAISON today issued a press release welcoming the strengthening of the Board of Directors through yesterday’s elections at the AGM and the good progress regarding the strategy implementation.
- VERAISON is not participating in the speculation about a possible takeover
- Convinced that the Board of Directors protects the interests of all shareholders in connection with a takeover bid in accordance with its fiduciary duties
- Pleased with the significant progress and remain invested
Press release:
VERAISON is pleased about the significant strengthening of the Board of Directors through yesterday’s elections at the AGM and the good progress regarding the strategy implementation. As a result of such progress, the VERAISON SICAV Engagement Fund has reduced the shareholding (SIX disclosure of today). The engagement has developed very positively since the position was built up in March 2020, with a performance of over 100%. In addition to contributing previously missing competencies (industry expertise and finance) in the Board of Directors, the necessary simplification of the business model was initiated and a credible plan for the company's continued independence was launched. The positive developments have revived the confidence of new investors and existing analysts.
Thanks to the focus on a core region by means of divestments, debt will be reduced and the continued independence of the company will be secured. The renewal of the Board of Directors was achieved in two steps and is an essential prerequisite for the successful development of Aryzta in the future.
VERAISON is not participating in the speculation about a possible takeover. We are convinced that the Board of Directors protects the interests of all shareholders in connection with a takeover bid in accordance with its fiduciary duties. We are pleased with the significant progress and remain invested.
Kind regards,
The VERAISON-Team
VERAISON is not participating in the speculation about a possible takeover. We are convinced that the Board of Directors protects the interests of all shareholders in connection with a takeover bid in accordance with its fiduciary duties. We are pleased with the significant progress and remain invested.
Kind regards,
The VERAISON-Team
