Moreno Carretero increases its direct stake in Sacyr again and exceeds 8%

It is once again the second largest shareholder

José Moreno Carretero has raised his participation again directly in the capital of Sacyr, up to 8.18% from the 7.1% it had until now, in such a way that it is once again the second largest shareholder of the construction and concessions group.

The businessman, whom Sacyr expelled from its board at the last shareholders’ meeting of last year, has taken the new shares by executing the financial instruments with which he held his remaining indirect stake in the company.

Thus, Moreno Carretero has liquidated all indirect participation and has placed its direct investment at 8.182% of Sacyr’s capital, according to the records of the National Securities Market Commission (CNMV).

This percentage of the group it has a value of about 90 million euros based on the current market prices of the company chaired by Manuel Manrique.

Moreno Carretero is thus once again the second largest shareholder of Sacyr behind Demetrio Carceller, who has 14.5% adding his stake with the one he has syndicated with Satocán Group, and ahead of José Manuel Loureda, despite the fact that this co-founder and former president of the company also recently raised his position in the group to 8%.

In the capital of Sacyr they are also present Strong Group, with 6.2%, and the president of the company, Manuel Manrique, with 1.5%.

THE FORCED DEPARTURE OF THE COUNCIL

The Sacyr meeting held in June 2018 agreed to “separate” Moreno Carretero from the position he held on the board, considering that he had “breached his legal and statutory duties towards the company”.

The construction businessman, who is also a construction entrepreneur, presented the meeting with additional agenda items to those provided for, in which he raised a set of proposals for changes in the company’s corporate governance, including the appointment of a CEO.

However, a week before the meeting, this shareholder took Sacyr to court to challenge a change in the board’s regulations of the group by which, according to assured then, the directors were forced to notify the purchases and sales of shares of the company.

After the expulsion of this shareholder from the board, the president of the group, Manuel Manrique, told the assembly that “Sacyr has to be above everything.” “We cannot allow anything or anyone, with individual interests, to divert the group from its current dynamics of growth and progress“, He emphasized then.