Clubs El Candado puts the accounts of three unapproved financial years to a vote

The Board of Directors of Clubs El Candado, S.A. has called an ordinary general shareholders’ meeting for December 2, 2026, with an agenda that submits the accounts and corporate management of the 2023, 2024, and 2025 financial years—three consecutive years without approval—to separate votes. The notice is published in the Official Gazette of the Mercantile Registry (BORME) no. 209, dated October 29, 2026, Second Section, page 7069, with the official reference BORME-C-2026-5701.

The announcement was approved by agreement of the Board of Directors on October 15, 2026, and comes after the company nullified two previous calls in barely a year. The last one, published in BORME no. 188, dated September 29, 2026 (reference BORME-C-2026-5225), scheduled the meeting for October 27, 2026, and was annulled by board agreement on October 15 via an announcement in BORME no. 204, dated October 22, 2026 (reference BORME-C-2026-5560).

The accumulated delay is greater: the meeting called for October 21, 2025, which was intended to approve only the 2023 and 2024 financial years, also became ineffective (announcements BORME-C-2025-5113 and BORME-C-2025-5385). In parallel, the Mercantile Registry of Málaga has registered the justification for the non-approval of the 2023, 2024, and 2025 accounts via certification from the administrative body, in accordance with article 378.5 of the Mercantile Registry Regulations (registration I/A 25, noted on October 23, 2026).

Date, place, and agenda

The meeting will be held in the Salón del Restaurante Candado Beach, at Calle Almería 74-76, P.C. 29018, Málaga, at 5:00 PM on December 2, 2026, on the first call, and on December 3 at the same time and place on the second call. The points to be addressed are:

• Report from the President, an informative point not subject to vote.
• Examination and approval of corporate management, with separate voting, for the 2023, 2024, and 2025 financial years.
• Examination and approval of the annual accounts and the proposed application of the result, with separate voting for each financial year.
• Appointment of directors.
• Requests and questions.

Separate vote per financial year and notarial control

The differentiated voting for each financial year allows shareholders to approve or reject the 2023, 2024, and 2025 accounts independently, so that a negative result in one year does not drag down the others. The Board of Directors has also requested the presence of a Notary to draw up the minutes of the meeting, in accordance with article 203 of the Capital Companies Act, a requirement that was not present in the annulled September call.

From the publication of the announcement, and according to article 272.2 of the Capital Companies Act, any shareholder may immediately and free of charge obtain the documents submitted for approval, as well as the management report and, where applicable, the auditor’s report. The documentation may be collected at the registered offices at Calle Almería 74-76, 29018 Málaga, or requested for free delivery.

Changes in the administrative body

The board also records recent movements. BORME no. 209 records the cessation of José Manuel Cabrera Cobos as director and vice president of the company, with registration data S 8, H MA 20796, I/A 24, entered on October 23, 2026. The meeting on December 2 must fill that vacancy with the appointment of directors included in the fourth item of the agenda.

The announcement is signed in Málaga, on October 15, 2026, by the chairman of the Board of Directors, Tomás Azorín Varela, and bears the identifier A260045919-1.

Why it matters

The meeting on December 2 is the last recorded opportunity for Clubs El Candado, S.A. to normalize its accounting situation: three fiscal years without approved accounts affect the reliability of the corporate figures, the renewal of the administrative body, and the position of the shareholders regarding any corporate operation, including those related to the marina concession. The result of the separate vote per fiscal year will determine which years are definitively cleared and which remain blocked.

Source: Official Gazette of the Mercantile Registry, no. 209, of October 29, 2026, Second Section — Announcements and legal notices, page 7069 (official reference: BORME-C-2026-5701).