Board approved proposal to convert non-voting savings shares to common stock, according to company statement.
- Investors can swap one savings share for 1 common stock and receive 9.5 euro cents or at the end of the offer period they would receive 0.87 common share without cash payment.
- Conversion expected to bwe completed before distribution of 2015 dividend
- Common shareholders meeting set for Dec. 15, while savings holders scheduled to meet Dec 17
- Approval came at board meeting today