- MASMOVIL will become the first Spanish company to move from Spain's alternative market (MAB), to the Main Market.
- The company's share price has grown twenty-fold over the period of its MAB listing.
San Sebastián, June 22 nd , 2017 . - By a large majority, the Ordinary General Meeting of Shareholders' of MASMOVIL (MAS.MC) approved today the delisting from the junior market (MAB) and the request for admission to trading on the Spanish Main Market.
This means MÁSMÓVIL will become the first Spanish corporation to move from Spain's alternative market (MAB) to the Main Market, representing a new milestone for the Company. This change is expected to significantly improve the interest of analysts and institutional investors in MASMOVIL.
" Once again, we are very pleased to achieve the unconditional support of our shareholders to be listed on the Spanish Main Market - and this will no doubt benefit them. We expect the process to be formalized during July. It will allow us to boost growth and continue investing in our fixed and mobile broadband networks ", said Meinrad Spenger, CEO of MASMOVIL.
The adequacy to the stock market
In this context, in recent months MASMOVIL has modified Corporate Governance procedures and the Board of Directors and subsidiary bodies, as well as adapting management and employee performance to the rules applying to listed companies and to the recommendations on good corporate governance.
All of these changes including, among others, the amendment of MASMOVIL's Board of Directors Regulations governance and Committees, the approval of Internal Regulations governing Conduct, other stock market rules, as well as regulatory compliance policies and procedures, has already been drawn today to the attention of the Ordinary General Meeting of Shareholders.
These actions are framed in the Company's and the Board's commitment to best practices, keeping in mind the main objective is to generate value for MASMOVIL stakeholders, as well as the trust and transparency of shareholders and investors.
Successful track record in the Spanish alternative market - MAB
Since 2012, MASMOVIL has been listed on the junior market (MAB) where the stock has had an excellent track record. Over this period, the share price has grown twenty-fold. So far this year, the stock has risen over 110%, which has positioned the Company's capitalization to over one billion euros, becoming the largest company in stock value, revenues and EBITDA in the Spanish junior market.
Moreover, during the period on the this market, MASMOVIL has carried out two capital increase operations amounting to 20 and 160 million euros, the largest in the history of the MAB.
"I would like to highlight the importance of listing on the MAB for the history of MASMOVIL, in order to have more visibility and access over the equities market", said Meinrad Spenger. "This market has always been at the heart of our business to collect the resources needed for the Company's growth", he added.
About MÁSMÓVIL Group
MÁSMÓVIL Group is the fourth largest converging telecommunications operator with their own fixed and mobile infrastructures in the Spanish market- Through their brands Yoigo, Pepephone, MÁSMÓVIL and Llamaya, the company provides universal services - fixed, mobile, ADSL, fiber, datacenter and value added services - to multiple segments such as residential, business and mobile network operators. In 2016, the company reached almost 4.4M clients.
The Group runs infrastructures of fiber/ADSL fixed networks and 3G and 4G mobile networks. Today, it has 7 million marketed homes with optical fiber and 18 million with ADSL. The Group's 4G mobile network covers 85% of the Spanish population.
For more information
Mario Paradinas / Isabel Hernández KETCHUM mario.paradinas@ketchum.com / isabel.hernandez@ketchum.com Telephone: (+34) 91 788 32 00
Attachments:A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/Attachm...834c38fbb2
Attachments:A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/Attachm...c2aca8f7f5
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