Polygon Global Issues Open Letter to the Board of Realia Business
November 21, 2018 at 05:32 am EST
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On November 21, 2018, Polygon Global Partners LLP announced that it issued an open letter to the Board of Realia Business S.A. In the letter, Polygon Global ask Company to release without delay the reasoned opinion of the Board as to the justification for the Capital Increase, the intended use of the same by the Company over the short and medium term, and why raising money at such a deep discount to the NAV is ultimately beneficial for the Company and its shareholders. Further, the Polygon Global asked reason why the Board has reached the conclusion that the Capital Increase, at such a deep discount to the asset value of Realia, is more interesting for the Company and its shareholders than a possible sale of certain non-strategic assets of the company at market value, that could easily raise the same amount of funds for Realia.
REALIA Business SA (Realia) is a Spain-based company engaged in the promotion, development and exploitation of rural and urban real estate properties. The Companyâs properties include office buildings and commercial centers in Madrid, Barcelona, Seville, Guadalajara, Soria, A Coruna and Murcia, as well as residential properties, garages, premises and storage areas in Alicante, Almeria, Girona, Balearic Islands, Las Palmas, Madrid, Malaga, Seville, Valencia and Valladolid. The Company operates through a number of real estate entities, such as Noralia SA, Valaise SL, Realia Business Portugal Unipersonal Ltda, Realia Polska Inwestycje Sp z oo, Realia Contesti SRL and Guillena Golf SL. In addition, the Company is a subsidiary of Inmobiliaria Carso SA de CV.
REALIA BUSINESS, S.A. 
