FRANKFURT, Germany--(BUSINESS WIRE)--The Frankfurter Aktienfonds für Stiftungen (ISIN: DE000A0M8HD2) and other funds sub-advised by Shareholder Value Management AG ("SVM") have recently purchased 17.6 million shares of EDP Renovaveis (ISIN: ES0127797019) ("EDPR" or "the Company") representing 2% of the company's share capital. SVM has subsequently led an effort among certain minority shareholders who have a combined shareholding of approximately 6% to exercise the right of proportional representation, thus requesting the appointment of Mr. Alejandro Fernandez de Araoz to the Board of Directors. Further information regarding Mr. Alejandro Fernandez de Araoz can be found at the following URL: https://www.araozyrueda.com/en/team/alejandro-fernandez-de-araoz-1/
SVM applauds both EDPR and its parent company Energias de Portugal (ISIN: PTEDP0AM0009) ("EDP") for respecting the request by including the appointment of our director to the agenda of the upcoming shareholders meeting of EDPR to be held on 27 June 2017. Furthermore, SVM believes that the high quality of EDPR's underlying assets, combined with the inclusion of minority shareholder representation in the company's governance, will ultimately determine significant value creation for all shareholders alike and, accordingly, SVM looks forward to remaining a stable, long-term shareholder.
Shareholder Value Management AG is a Frankfurt based investment company with EUR 3 billion in assets under management/advisory. SVM follows the principles of "Value Investing" and adopts an active approach to the management of its portfolio companies, frequently engaging in constructive dialog and collaborating with them to contribute to long-term value creation for shareholders.