Extraordinary General Shareholders' Meeting approves all items on the agenda

OHLA successfully completes a 150-million-euro capital increase process

October 22, 2024

From left to right, Mr. José María del Cuvillo Pemán, Secretary of the Board; Mr. Luis Amodio Herrera, Executive Chairman of the Board of Directors; and Mr. Tomás Ruiz González, Executive Director; at the Extraordinary General Shareholders' Meeting held on October 22.

OHLA’s Extraordinary General Shareholders’ Meeting today approved the five items on its agenda. These include those related to the capital increase of up to 150 million euros aimed at strengthening the company from a financial and operational perspective.

The shareholders approved a first capital increase without pre-emptive subscription rights for EUR 70 million and a second subsequent capital increase with subscription rights for EUR 80 million.

In this transaction, led by OHLA’s main shareholders, brothers Luis and Mauricio Amodio, the company has received binding investment commitments from Inmobiliaria Coapa Larca (owned by businessman Andres Holzer) and Excelsior Times (a group led by businessman José Elías).

In addition, during the Meeting, the shareholders approved the appointment of Mr. Tomás Ruiz González as executive director of the company and the increase in the size of the Board of Directors to 10 members.

A strengthened company

Mr. Luis Amodio, Chairman of the Board of Directors, emphasized that this transaction represents a major step forward in the process of operational and financial strengthening that the company undertook in 2021 and that has been reflected in the increase in order intake and backlog, the improvement of EBITDA and the reduction of financial leverage.

He also highlighted the agreements reached with the banks and bondholders of reference, which will enable the company to meet its growth and sustainability objectives. In his speech, he pointed out that “OHLA emerges strengthened with greater resources that will allow it to address the ambitious future challenges it has set for itself”.