Talde Promoción y Desarrollo, S.C.R., S.A. General Meeting

July 03, 2024
  • This year’s General Meeting marked the Entity’s 48th anniversary since its foundation in 1976.
  • More than 95% of the share capital was represented at the meeting, and information was given on trends in the sector and society over the last year.

Both today and in the past, Talde has a generalist approach to the companies it invests in, which include both industrial and services enterprises. The entity has 13 investee companies from different sectors, including the areas of technology, logistics, health and food & drink.

It also has a holding in several funds managed by the management entity. The private equity funds it holds stakes in are Talde Capital Crecimiento, F.C.R. and Talde Capital Crecimiento II, F.C.R., which give it an indirect shareholding in the portfolio companies of both funds. It also has a holding in the private debt fund Talde Deuda Alternativa, FILPE, whose purpose is to provide long-term financing for small and medium-sized enterprises.

Additionally, information was given at the meeting on the upcoming launch of a new private debt fund, after the successful completion of the investment period for the first one. It will be the second fund of this type launched in the Basque Autonomous Community and one of only a few domiciled in Spain, backed by a European Long-Term Investment Fund (ELTIF) regulation. This investment is particularly appealing to private investors in the provinces of Vizcaya and Álava due to its tax incentives, which provide favourable treatment for property, income and inheritance tax.

The entity posted a profit of almost 5.5 million euros in 2023, significantly higher than the previous year, when it totalled just over €1.1 million.

The General Meeting agreed to allocate 10% of the profit to Legal Reserve and a further 10% to Voluntary Reserve, distributing the rest to the members as a dividend of 0.62 euros per share, i.e. a 10.3% return on the nominal value of the shares.

Finally, it was announced that an extraordinary interim dividend from the profit for 2024 would be distributed from September, when the sale of one of its holdings was due to be concluded.

One of the entity’s Directors gave an interesting address on the economic situation and outlook, and Alex Rayón, an expert in AI (Artificial Intelligence), was invited for the second year running to speak about the latest developments in this field and its contribution to the future of company management and potential uses in a more personal environment.