The past 1 September, the Group Tendam announced a new reduction of the social capital, que will remain in 79.238,371,05 euros. This reduction was approved by means of to the Ordinary General Board of Shareholders and the purpose of this new readjustment of capital is to give back contributions to the shareholders. This is the second reduction of capital in less than half year, since the first approved by the investment funds CVC Capital Partners and PAI Partners, and pursued the same aim that the current operation.
What comports this reduction of capital and the return of the contributions to the shareholders is that it affects to the value of the participations. The nominal value by action will happen of 0,117 euros to 0,066, and the diference of 0,051 euros by action will be delivered to all and each one of the shareholders.
This reduction of capital will have effect in the term of a month, that will begin to explain after the period, that has another month of length, had for the exercise of opposition of the creditors.
During the celebration of the JGA, also approved replace the current multiple titles nominatives representative of the actions of the society by others of new broadcast with the aim to "reflect the new figure of social capital and the new nominal value by resultant action of the reduction of capital."
In the closing of the exercise of 2021, the social capital of Tendaim Retail surpassed the 262 million euros. In the first fiscal quarter of this 2022, Tendam, owner of signatures like Cortefiel, Pedro of the Iron, Springfield or Women's Secret, elevated his sales in 18,6% what supposed an invoising of 234,8 million euros, reaching 17% in the on-line channel and turning it into one of his fortresses.