Aragon Regional Government approves the decree to convert Platea into a trading company

The Governing Council of the Aragon Executive approved the Decree to authorise the conversion of the company Platea Gestión, S.A. into an autonomic trading company as it holds more than 50% of the shares in this company. This modification stems from the accordion operation that was authorised last June by the Aragon Regional Government,within the framework of re-floating the accounts that the Executive is applying to public companies in the Autonomous Community. Until now Platea was not a regional trading company since the Aragon Administration did not exercise dominating control over it, either directly or indirectly. This company was created by the Aragon Regional Government to design, build, maintain, exploit and promote the Teruel Logistics / Industrial Platform, and specifically the infrastructures and equipment included on it, plus the services that can be installed or developed in said infrastructures and equipment. Until authorisation of the accordion operation, the company’s shareholders were Suelo y Vivienda de Aragón, Sepides, Ibercaja Banco, Ayuntamiento de Teruel, Diputación Provincial de Teruel and Caja Rural de Teruel. Once the operation was approved, and since some of the shareholders decided not to get involved in the capital increase at the General Meeting held on 27th June, it is necessary to convert Platea to a trading company and the Executive to subscribe, through the company Corporación Empresarial, Suelo y Vivienda (SVA), all the shares in the trading company that are not subscribed by the rest of the shareholders resulting from a waiver of their pre-emptive right to acquisition. At the same meeting, a term of four months was established to subscribe the shares. The Teruel Provincial Council stated that it would subscribe the relevant shares, undertaking to settle payment within the established deadline. As for Teruel City Hall, the Local Council requested studying the viability of a possible budget amendment in order to subscribe shares in the capital increase. If this does not materialise, representation on the Board of Directors is guaranteed as agreed in previous board meetings, with the right to speak and vote.