Vista Alegre exits Euronext Lisbon, potential buyout at €1.07 per share
The Portuguese securities authority has authorized the delisting of shares of the porcelain group from Euronext Lisbon, coupled with a buyback mechanism for shareholders who did not approve the transaction.
CMVM approves delisting from Euronext Lisbon
VAA - Vista Alegre Atlantis, SGPS, S.A. announced that the Securities Market Commission (CMVM) approved, on September 17, 2026, the voluntary exclusion from trading of shares representing its share capital. The delisting became effective as of the date of publication of the favorable decision.
The company is headquartered at Lugar da Vista Alegre, in Ílhavo, and has a share capital of €134,120,048.00, represented by 167,650,060 ordinary shares with a nominal value of 80 cents each. The shares were excluded from trading on the Euronext Lisbon regulated market on that same date, in accordance with Article 251.º-H of the Securities Code.
The request followed a resolution by the general meeting of shareholders held on May 29, 2026, approved by 99.9748% of votes cast, corresponding to 94.8231% of the voting capital.
An exit at €1.07 per share for shareholders who did not approve the delisting
Shareholder Visabeira Indústria, S.A. has committed to acquiring, between September 18, 2026 and December 18, 2026 inclusive, a maximum of 4,467,923 shares representing 2.66% of the capital and voting rights, from shareholders holding shares on the date of the general meeting who did not vote in favor of the resolution. The consideration offered has been set, in accordance with Article 188.º of the Securities Code, at €1.07 per share, corresponding to the highest price paid for VAA shares during the six months preceding the disclosure of the general meeting notice. Over this period, the volume-weighted average price of shares on the regulated market stood at €1.05506.
As of the date of the announcement, Visabeira Indústria and related entities hold 146,313,358 shares, representing 82.27% of the capital and voting rights, these rights being attributable to engineer Fernando Campos Nunes. Banco Comercial Português S.A. (Millennium bcp) has made available a total amount of up to €4,780,677.61 to guarantee payment of the consideration, with Visabeira Indústria having transmitted a standing purchase order valid for the three-month period concerned.
Shareholders wishing to sell their shares may submit their sale orders through any authorized financial intermediary, until 3:00 p.m. on December 18, 2026. Physical and financial settlement of transactions is scheduled on a weekly basis. If legal conditions are met, Visabeira Indústria may consider resorting to the forced acquisition mechanism for remaining shares provided for in Article 490.º of the Commercial Companies Code.
