José Pedro Fazenda Martins is quoted in an article in Jornal de Negócios entitled "Exclusion of Reditus leaves shareholders without compensation".
Euronext's recent decision to exclude the shares of Reditus, one of the oldest technology companies on the Lisbon stock market, is raising doubts about the possibility of shareholders receiving compensation. Euronext's decision, with effect from 16 September, follows successive delays in the disclosure of financial results, a situation that had already led Reditus to Euronext's penalty compartment in July 2021.
José Pedro Fazenda Martins explains that ‘the payment of a consideration for delisting is only established by law in cases where the initiative to delist is taken by the listed company itself’.
The exclusion of Reditus raises concerns, but shareholders remain protected by rights such as access to information, guaranteed by the Commercial Companies Code and the Securities Code.
- This news article is available here.