PhilipBe2 schreef op 1 november 2024 13:45:
@Lamsrust,
wat het aantal medewerkers betreft, dit gevonden in het jaarverslag van URW-NV:
Quote:
13.2 HEADCOUNT The average number of employees of the Group’s companies breaks down as follows:
Regions 2023 2022
United States 448 533
The Netherlands 5 5
TOTAL 453 538
13.3 PERSONNEL COSTS
(€Mn) 2023 2022
Fixed income 61.2 68.1
Short-Term Incentive 15.9 18.9
Long-Term incentive 2.9 3.2
Other benefits 7.4 8.8
TOTAL 87.3 99.0
unquote:
en dan het volgende tegengekomen in de persberichten:
Press release : Amsterdam, July 9, 2024
Quote:
URW NV: DEBT-TO-EQUITY CONVERSION
On July 9, 2024, Unibail-Rodamco-Westfield N.V. (“URW NV”) and Unibail-Rodamco-Westfield SE
(“URW SE”), URW NV's largest shareholder and the sole holder of class B shares in URW NV's capital,
effected the debt-to-equity conversion as outlined in the convening notice and explanatory notes for
the annual general meeting that has been held on June 12, 2024 (the “Transaction”). As part of the
Transaction, among other matters: - - - - -
....
URW SE made a share premium contribution on its class B shares in URW NV's capital equal to
USD 2,048,039,596.34, which equals the aggregate principal amount plus accrued but unpaid
interest under two intra-group term loan agreements and a promissory note, in each case
originally entered into between URW SE as lender and URW America Inc. as borrower. The
share premium contribution will be utilized to repay and terminate these two intra-group loan
agreements as well as the promissory note;
URW SE made another share premium contribution on its class B shares in URW NV's capital
equal to EUR 2,000,000,000, which equals the aggregate principal amount under two intra
group loan facility agreements originally entered into between URW SE as lender and the
Company as borrower The share premium contribution will be utilized to repay (through set
off) these two intra-group loan agreements; and
as part of the agreements referred to above, URW SE and URW NV agreed that the exercise
price per class B share in URW NV's capital in relation to a conversion of the balance of the
class B share premium reserve created as a result of the above-mentioned debt-to-equity
conversions shall be equal to the nominal value of EUR 0.50.
The amended articles of association are available on URW NV’s website
www.urwnv.com/en/corporate-governance/related-documents.
The business rationale served by the Transaction includes an expected improvement of URW NV’s
financial and equity positions. Also, because of the stapled share principle in place between URW NV
and URW SE, there should be no dilution of the economic interest of the holders of stapled shares as
a direct result of the Transaction, since the stapled shares effectively represent an investment in
both URW SE and URW NV. For that same reason, a potential issuance of class B shares in URW NV's
capital pursuant to an exercise of the Amended and Restated Subscription Right Agreement should
not directly result in a dilution of the economic interests of the holders of stapled shares; this would,
however, dilute the voting interest of such holders in the general meeting of URW NV.
Unquote:
4 Miljard schuld is omgezet naar 4 mrd kapitaal en dus URW-SE is feitelijk de eigenaar geworden van URW-NV. wat men ook wat aangeeft in de op het einde: "this would,
however, dilute the voting interest of such holders in the general meeting of URW NV"
Volgens mijn bereking is hun belang van 40% naar ongeveer 80% gestegen via de potentiele uitgifte van een enome hoeveeldheid B-shares die overeenkomen met die 4 mrd kapitaal.
Hier mijn berekening:
Situatie 31 Dec 2023:
The amount of share premium is €2,243.1 Mn
40% is €897 Mn represented by 93,248,315 ordinary B share
60% is €1.345 Mn represented by 139,041,391 ordinary A shares
Nieuw situatie: Add about 4.000 Mn in share capital for the B shares.
New share premiunm: €6,243 Mn
Not changed: €1.345 Mn for the A shares thus 21,5% for the A shares
Increase: €4,897 Mn for the B shares thus 78,5% for the B shares
78,5% stemrecht komt overeen met meer dan 500,000,000 B shares, dus 410.000.000 B shares zouden er dan moeten bijkomen.
Maar dit is meer dan wat de statuten mogelijk maken, het totaal aan mogelijke B shares is immers beperkt tot 440.000.000
en dan wat verder gezocht en het volgende document gevonden:
20240709-Amended-articles-of-association-ENG.pdf
(kan de tekst niet copieëren het is een ingescanned document, maar geef op het einde een link.)
Artikel 40 zegt kort samengevat het volgende:
TRANSITIONAL PROVISIONS:
Article 40.
40.1 If and when the Company's issued share capital includes 440,000,000 Class B Shares .....
The authorised share capital is divided into:
660,000,000 Class A shares
2,2000,000,000 Class B shares
en het gaat zelfs verder, als het nodige kapitaal gestort wordt kunnen er tot 10,000,000,000 B shares uitgegeven worden.
Conclusie, sinds juli 2024 heeft URW-SE door de omzetting van de schuld naar kapitaal absolute macht over URW-NV
de status wijziging is te groot om in bijlage te hangen, hier is waar je het kunt vinden:
www.urw-nv.com/en/corporate-governanc...Articles of Association as of July 9, 2024 (ENG)
July 9, 2024