Shareholding
At year-end 2020, GBL’s share capital totalled EUR 653.1 million, representing 161,358,287 shares.
GBL’s shareholding is characterised by a controlling shareholder, Parjointco Switzerland S.A., which holds 28.2% of the outstanding shares and 43.2% of the voting rights. Parjointco Switzerland S.A. 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.
As year-end 2020, GBL held 8,749,816 GBL shares directly and through its subsidiaries, representing 5.4% of the issued capital. The company concluded an agreement with a third party to improve the market liquidity of the GBL share. This liquidity agreement is executed on a discretionary basis on behalf of GBL within the limits of the authorisation granted by the General Shareholders’ Meeting of April 28, 2020 and in accordance with the applicable rules. GBL did not hold shares in that respect in its portfolio as of December 31, 2020.