Compta’s general meeting votes to continue the company’s activity

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The Compta General Assembly, meeting yesterday, voted for the continuity of the company‚Äôs pre-bankruptcy activity. In a statement sent to the CMVM, Compta says that the shareholders voted ¬ęthe continuation of the company‚Äôs activity, without prejudice to the provisions of article 171 of the Portuguese Companies Code¬Ľ.

The aforementioned article refers to the identification obligations in terms of ¬ętype, registered office, registry and number of the commercial register¬Ľ that companies have an obligation to disclose in all their acts, to which is added ¬ęthe mention that the company is in liquidation ¬ę, when applicable.

It is recalled that the national technology company has been looking for a model to recover the company since the beginning of the year, which worsened the results in 2004 to a loss of 6.7 million euros and ended the year with a debt of 30 million euros. euros.

At the beginning of June, Compta resorted to the Extra Judicial Conciliation Procedure with the objective of renegotiating the debt with its creditors and one month later it called the General Meeting to define measures to be applied to resolve the fact that the company had equity below half of share capital.

The communication explaining the summons explained that the company’s situation represented a conflict with Article 35 of the Commercial Companies Code and put forward three possible solutions.

In addition to the one chosen by the shareholders, the option was on the table to dissolve the company, reduce the share capital to a value not lower than that of the own capital or proceed with capital reinforcement contributions provided by the shareholders.

It is recalled that Compta was involved last year in the scandal of the teacher lists, for allegedly providing the Ministry of Education with a technological solution that did not fulfill the defined objectives.

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