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The English Court,
this year ahead of its annual general meeting of shareholders on 26th July , instead of at the end of August as it was traditionally, be subject to the same approval of the absorption of its chain of fashion Atmosphere, according to published today the Official Bulletin of the Commercial Registry (Borme).
The past day 16, the Board of Directors of The English Court announced that it would hold its next meeting on the 26th of July, in the expected to approve the merger by absorption between The English Court (as absorbing company), and Sfera Young (as absorbed company), in accordance with the common merger project filed at the Commercial Registry.
“The uptake is going to be done with total normality and without layoffs,” according to have confirmed the trade unions, which have pointed out that the operation causes “organizational” is “similar to those already experienced with Hipercor and Bricor” when you also were absorbed by the larger stores. The English Court, for its part, has pointed out, that the goal of this absorption is “focus distribution” and “leveraging synergies” and “win efficiency” . As noted in the Borme, by the absorption of Sfera “will not be awarded compensation” to the benefit of the shareholders of The English Court.
Also, in the board consider and approve the annual accounts of the company. In its fiscal year 2019, closed on the 29th of February, he won 310 million euros, 20.1% more during the previous year, while sales reached 15.260,78 million, a 3.3% less than a year before.
for the advancement of the board to the month of July, instead of celebrating it at the end of August, is due to the decision of the panel of want to go “closer” to the policy of the listed companies , according to explained to Efe by the company.
According to the information published in the Borme, the Board of Directors of The English Court has considered that the best way to ensure that shareholders can exercise their rights without putting in risk your health and the health of others is by providing assistance to the General Board through the electronic media .
Although The English Court has recommended the assistance of telematics, the shareholders who deem it necessary to come personally to the board may do so.