Cofina will propose to shareholders an increase in capital and extinction of shares – Stock Exchange

The management of Cofina, former owner of Negócios, Correio da Manhã, CMTV, Sábado and Record, will propose to shareholders a capital increase – without issuing new shares – in the amount of 15.384.875.40 It isuros and, subsequently, the extinction of more than 92 million shares, according to a statement released this Tuesday to the Securities Market Commission (CMVM).

In the proposals to be presented at the general meeting, scheduled for May 29, the administration proposes an “increase in share capital, in the amount of 15,384,875.40 euros, per incorporation of share issue premiums evidenced in the 2023 accounts”.

In this way, the company’s share capital would increase from the current 25,641,459 euros to 41,026,334.40 euros.

Subsequently, the administration intends to approve the “amortization of shares with reduction of share capitalresulting in the extinction of 92,309,252 shares”.

This operation, if approved, will reduce the number of Cofina shares from the current 102,565,836 to 10,256,584, allowing shareholders to be remunerated, as their shares will have greater value.