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Campari shareholders approve ‘loyalty shares’
Italian drinks group Gruppo Campari has approved double voting rights for its most “loyal” shareholders.
Gruppo Campari is to award double voting rights to its long-standing shareholders to encourage commitment
The Wild Turkey Bourbon and Skyy Vodka owner will award so-called “loyalty shares” to those who have invested in the company for more than two years.
Under the new scheme, Campari’s largest shareholder, investment firm Alicros, owned by the Garavoglia family, would see it shares rise from 51% to 67.5%, if no other investors ask for their votes to be doubled.
At an extraordinary general meeting of Campari’s shareholders on 28 January, an approval vote of 76.1% was returned – which corresponds to 61.8% of the share capital.
A statement from Campari read: “The board of directors is strongly convinced that the encouragement of long-term commitment on the part of the company’s shareholders (underlying the introduction of the double voting benefit) is effectively in the best interest of the company, all of its shareholders and, more generally, all of its stakeholders.”
Earlier this month the group’s US arm added three Italian bitters to its portfolio.