Shareholding
At year-end 2022, GBL’s share capital totaled EUR 653.1 million, representing 153,000,000 shares.
GBL’s shareholding is characterized by a controlling shareholder, Pargesa SA, which holds 29.8% of the outstanding shares and 44.0% of the voting rights. Pargesa SA itself is held jointly by the Power Corporation of Canada (Canada) and Frère (Belgium) groups, providing GBL with a stable and solid shareholder base. Since 1990, the two groups have been bound by a shareholders’ agreement. This agreement, which was extended in December 2012 until 2029, includes an extension possibility going forward. The chain of control is presented in detail and illustrated on page 298 of the Annual Report. At year-end 2022, GBL held, directly and through its subsidiaries, 12,222,870 GBL shares representing 8.0% of the issued capital.