Yesterday, SPS (the parent company in Spain)
filed yet another document with the Spanish Stock Exchange.
Here’s a link to that letter:
As I normally do, I used Google-Translate to
translate that document from Spanish to English. Reminder:
Google-Translate does not produce perfect translations! Here’s how Google-Translate translated this
particular document:
Madrid, November
19, 2013
The Board of
Directors of the company, with the concurrence of all members present and represented
at the meeting held in the day, and in order to ensure the operability of the company
has taken the decision to convene shortly Extraordinary General Shareholders to
adopt the necessary agreements that allow quantitative regularize their governing
body, to the resignation of one of its four directors.
That company
PAOSAR, SL, through its representative D. Jaime Castellanos, presented his Fee
waiver Counselor SERVICE POINT SOLUTIONS SA by letter dated 19 November 2013.
The resignation is due to the fact that PAOSAR SL intends to proceed to the
disposal of its shareholding in the Company. That the company is focusing its
efforts on finding investors that permit a cash offer to repurchase syndicated
debt. The conclusion of the two failed bids is that financial institutions
require a cash offer immediately executable.
The company, its
executives and their advisors, have devised a plan to attract investors who are
in available to contribute between 15 and 20 million euros within 4-6 weeks.
These moments are ongoing with investor groups.
Without further
ado, take this opportunity to send a cordial greeting.
Ignacio
López-Romero Balcells
Secretary of the
Board
Posts
No comments:
Post a Comment