Merlin Properties welcomes Manuel Lao to its board

Merlin Properties welcomes Manuel Lao to its board

Manuel Lao, the Merlin Properties’ second-largest shareholder | Photo Collected From Newspaper Cinco Días

Manuel Lao elected María Ana Forner, who is currently Nortia Capital’s general manager and has a 30-year career, to represent him at the REIT’s board.

Manuel Lao acquired a 6.27% share of the Spanish REIT for 245.8 million euro in mid-April. This operation was carried out through his company Nortia Capital and placed him as Merlin Properties’ second-largest shareholder.

During the same meeting, the nomination Ignacio Gil Casares, who will be one more representative for Santander, a leading shareholder with 22.2% of the company’s shares, was discussed. Amongst the main companies it represents are Bankinter and UBA.

With these new nominations, Merlin Properties will have 14 members on its board. The REIT led by Ismael Clemente considered that during times of pandemic, it is important «to maintain a large number of board members who, with their vision and experience, bring the added value the company will need in this new economic situation».

Amongst the several subjects discussed during the meeting, which took place remotely, was also the distribution of dividends, which will be of 0,17259631 euro per share and will represent an 81.08 million expense from the company’s reserves, advanced Europa press.

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