The imminent new capital increase and the start of the transformation into a joint stock company with subsequent listing on the Stock Exchange are sparking protests from the small shareholders of Veneto Banca. The Veneto Banca Shareholders' Association, chaired by the former president of the Treviso Court Giovanni Schiavon, has decided to stir things up in harmony with other groups of small shareholders that have been in turmoil for some time.
After appealing to the Lazio Regional Administrative Court to suspend the effects of the recent reform of cooperative banks which abolishes the per capita vote and in view of a possible recourse to the European justice system "to activate judicial control over the ECB which, in fact, continues to impose to our bank choices of merit”, the Association of small shareholders has raised the bar in view of the next company meeting scheduled between October and November.
There are two new proposals from small shareholders addressed to the top management of Veneto Banca: 1) “clear opposition to the stock exchange listing of Veneto Banca, at least in this period”; 2) requests the board to resign at the next shareholders' meeting to reduce all the choices facing the bank: from the transformation into a joint stock company to the listing and the capital increase up to the method of repayments for shareholders who decide to exercise the right of withdrawal .
Finally, the small shareholders ask to know the conclusions of the advisors' work on future mergers, not hiding their adversity to any marriage with Popolare di Vicenza.
