The Spanish glass producer Cristaleria Espanola held its Annual General Meeting (AGM) recently. Shareholders approved the board renewal of the affiliate of France“s Saint-Gobain, which has led to the…
The Spanish glass producer Cristaleria Espanola held its Annual General Meeting (AGM) recently. Shareholders approved the board renewal of the affiliate of France“s Saint-Gobain, which has led to the entry of Claudio Aranzadi, Jaime Lamo de Espinosa, Michel Besson and Marc de Nadaillac. They replace Jose Luis Leal, Laureano Perez, Rodrigo Uria and Jose Vila Marsans. The AGM also ratified the payment of a dividend against the 1996 financial year of Ptas 240, Ptas 20 more than the 1995 distribution. The board has decided to devote Ptas 4.28 billion out of net profits of Ptas 9.9 billion to voluntary reserves. However, it has accepted the proposal from minority investors to study a share issue to increase shareholder return. The Ptas 1.3 billion would involve a one-for-ten issue.