MADRID (dpa-AFX) - Siemens Gamesa Renewable Energy S.A. (GCTAF.PK) said that a majority of its shareholders approved the delisting of its shares from Spanish stock exchanges, following a successful tender offer by German parent Siemens Energy AG (SMEGF.PK SMNEY.PK).
The delisting of the Siemens Gamesa shares is now subject to authorization by the National Securities Market Commission and the settlement of all the purchase transactions.
Siemens Energy said in May 2022 that it offered to buy remaining about 32.9 percent stake in Siemens Gamesa Renewable Energy for 18.05 euros per share in cash. The company already owns about 67.1 percent stake in the Spanish-German wind turbine maker.
The National Securities Market Commission (CNMV) authorized the offer in November 2022 and 77.88 percent of Siemens Gamesa's minority shareholders tendered their shares during the acceptance period, which closed on December 13, 2022. As a result, Siemens Energy's stake in Siemens Gamesa now increased to 92.72 percent.
In December 23, 2022, Siemens Energy placed a standing purchase order at 18.05 euros to the remaining shares of Siemens Gamesa, which will be in force until the CNMV suspends its trading.
At the Extraordinary General Meeting on Wednesday, Siemens Gamesa shareholders also approved all items on the agenda, including the amendment of the by-laws of the company in order to adapt them to the regulations for non-listed companies.
Siemens Gamesa said it will reduce the number of members on the Board of Directors from ten to three. Board members Francisco Belil, Gloria Hernández, Harald von Heynitz, Maria Ferraro, Rudolf Krämmer and Mariel von Schumann, who submitted their resignations in December 2022, will leave Siemens Gamesa once the company is delisted.
The company stated that Chairman Christian Bruch and CEO Jochen Eickholt will remain on the new board along with Anton Steiger, who serves as a non-executive proprietary director.
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