Portuguese cableco Zon Multimedia has announced the resignations of three non-executive board members appointed by former qualified shareholders Caixa Geral de Depositos and Cinveste.
Jorge Telmo Maria Freire Cardoso and Norberto Emilio Sequeira da…
Portuguese cableco Zon Multimedia has announced the resignations of three non-executive board members appointed by former qualified shareholders Caixa Geral de Depositos and Cinveste.
Jorge Telmo Maria Freire Cardoso and Norberto Emilio Sequeira da Rosa, appointed by Caixa Geral de Depositos, and Luis Bordalo Silva, appointed by Cinveste, resigned from the board following the companies’ disposal of their shares on 19 June and 4 July respectively, a spokesperson for the Lisbon-based company explained. None of the directors mentioned future positions in their resignation letters.
“At present, we have no information regarding the appointment of new board members,” the spokesperson added.
Zon’s largest shareholder, Angolan investor Isabel do Santos, boosted her stake in the cableco – Portugal’s largest – from about 18.8% to 20.8% in early July.
The company posted revenue of €214.4m for the second quarter – up 1.4% from Q2 2011 – and net income of €9.7m (US$11.9m) – a 5% increase on the Q2 2011 result.
