A new conversion of tax credits issued under the special regime leads the State to reinforce its direct position in Novobanco from 11.96% to 15.6%, according to JE in this Friday’s edition.
The Portuguese State will surpass the Resolution Fund (FdR) and become Novobanco’s second largest shareholder, in accordance with the changes that will be made at Novobanco’s annual General Meeting, which takes place this Friday, According to news published by JE in the weekly edition that is on newsstands on Friday and can also be read in digital version.
The Resolution Fund, financed by contributions from Portuguese banks but which is within the accounting perimeter of the Public Administration, will once again dilute its shareholding in Novobanco. The State becomes, in turn, the second largest shareholder ahead of the FdR.
Novobanco’s annual General Meeting will take place this Friday, March 22nd, and the agenda includes “deliberating on the Executive Board of Directors’ proposal to adjust the number of conversion rights attributed to the State for the year ending in December 31, 2020, following the correction of the tax credit amount by the Tax Authority”.
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