Could fear a stormy Gecina General Assembly and its President Joaquin Rivero. But as of yesterday, although it lasted six hours, proved less agitated than expected despite the controversies and the criminal actions triggered by critics of the management of the land. It is true that if the capital present or represented at the meeting reached the figure of 83 of the titles, "the shareholders have only 5 of the capital", observes Colette Neuville, President of the Association for the defence of minority shareholders (Adam). Furthermore, falling agree on May 21 to revamp the Board of Directors and grant 5 18 seats to the principal shareholder Metrovacesa (instead of one above), the major shareholders that make up the majority of the capital of Gecina were reached an agreement clearing the land. An agreement to four because it was played between the land Spanish Metrovacesa (held by banks since a few months and having 27 of the capital of Gecina), Prédica (a subsidiary of Crédit Agricole 8 of the title insurance), Joaquin Rivero and his ally Bautista Soler (33 of the vote to them both, capped to 20 for the Assembly).
Reconfiguration of power for Metrovacesa and Joaquín Rivero, on the spot, translated yesterday by the vote in more than 96 of the votes of the removal of the casting vote of the Chairman in the Council. With 5 votes for him and his representatives, it is reduced to the level of Metrovacesa. However, resolution of Colette Neuville to revoke Joaquin Rivero of the Presidency, was dismissed on 96 of the vote.
Step of new element
In the end, the resolutions submitted by the Board of Directors have all been passed more than 90. This is the case of the choice of the new Directors revealed on May 21. "Nicolas Durand, from Rothschild, has been added to complement the Board until a replacement is found to the Director-General present Antonio Truan, appointed 5 years ago by Joaquin Rivero and on the start now," decrypts a close to the record. Same quasi-unanimous approval of the resolution on the amount, yet held high, to the attendance fees: the annual overall amount of EUR 1.75 million voted in 98 of the vote. The alternative resolution of Colette Neuville to to divide by two the amount was rejected by 93 of the vote. Similarly, the President of the Adam failed in his attempt to oppose the various resolutions in the future for the Board of Directors, a ceiling to 550 million euros, capital increases. "This limit is more than all of the existing nominal capital, which is EUR 468 million!" is is indignant Colette Neuville. It was nevertheless voted to more than 95 of the vote.
Many small carriers and issues of Adam on financial transactions subject of criminal complaints brought nothing new. Which, for example, has Bamolo, the Luxembourg company which Gecina advanced EUR 60 million for the purchase of land in Marbella "I don't know, this isn't me!" begins with respond Joaquin Rivero before ensure, before the insistence of the questions: "I can't remember the name, but it has already been given, I can pick it up and provide you with". A promise that will not forget the Enterprise Committee denies having never obtained the identity of the shareholder of Bamolo and was recently revealed that Bamolo was domiciled at the same address in the Luxembourg that holdings of Joaquin Rivero.
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