GN Store Nord AS
GN: XCSE (DNK)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
DKK 572.00 | Xdwfyf | Bgsbqdpz |
GN's Proposed Capital Raise Withdrawn From Annual General Meeting; Shares Undervalued
GN Store Nord, which previously announced its intent to increase share capital through a pre-emptive rights issue to existing shareholders for as much as DKK 7 billion in February, held its annual general meeting on March 15. The board of directors' proposal for the rights issue was withdrawn as advance votes and shareholder response voiced opposition. GN did comment that roughly half of the received votes were for the rights issue, but the proposal required a two-thirds majority to be passed, and so it was removed from the meeting agenda.