Horse Powertrain Spain calls a meeting to distribute dividends and create a board

Horse Powertrain Spain, S.L. has called an extraordinary general shareholders’ meeting for the coming December 2, 2026, in which a dividend distribution charged to voluntary free reserves and the creation of a board of directors will be put to a vote. The notice is signed by the sole administrator, Rafael José Vázquez de la Torre Barberena, and is published in the Official Gazette of the Mercantile Registry (BORME) no. 217, dated November 12, 2026, second section of announcements and legal notices, with the official reference BORME-C-2026-5955.

Notice and legal framework

The meeting will be held at the facilities of the Chamber of Commerce, Industry and Services of Valladolid, at Avenida Ramón Pradera, 5, at 12:00 p.m. on the first call. If the legally required quorum is not reached, the meeting will be held at the same time the following day, December 3, on the second call.

The notice is issued in compliance with the corporate bylaws and the current Capital Companies Act, which in its article 196 recognizes the right of shareholders to request in writing, before the meeting, or verbally during the meeting, the reports and clarifications they deem necessary regarding the items on the agenda. The company’s registered office is located at Avenida de Madrid, 72, 47008 Valladolid, the address to which such requests must be sent.

An agenda with five points

The meeting must deliberate and approve the following matters:

• First: examination and approval, if applicable, of the proposal for the distribution of dividends charged to voluntary free reserves.
• Second: re-election or appointment of the company’s statutory auditors for the 2027 financial year.
• Third: constitution and establishment of the Board of Directors as the company’s administrative body, fixing the number of members within the statutory limit, with the consequent termination of the sole administrator.
• Fourth: delegation of powers for the formalization, registration, and execution of the agreements adopted.
• Fifth: approval of the meeting minutes.

The first point does not specify the amount of the dividend or the amount of available reserves in the notice, data which will be known with the proposal presented to the meeting. The notice also does not detail the future composition of the board, the number of members of which will be decided “within the statutory limit” on the day of the meeting.

From the ordinary meeting in June to the change of governing body

The announcement comes five months after the ordinary general meeting held on June 23, 2026, also at the Valladolid Chamber of Commerce, in which the annual accounts and management report for the fiscal year ending December 31, 2025, and the proposed application of the results for that year were approved, as recorded in the Official Gazette of the Mercantile Registry (Boletín Oficial del Registro Mercantil) no. 106, of June 5, 2026, reference BORME-C-2026-3229.

The change from a sole administrator to a board of directors entails a modification of the governance model of the Spanish subsidiary, which moves from a single-person body to a collegiate body. Furthermore, under the fourth point, the Meeting may delegate the necessary powers to formalize and register the agreements in the Mercantile Registry.

All shareholders of the company shall have the right to attend, in accordance with articles 7 and 13 of the bylaws and articles 179 to 181 and 183 to 188 of the consolidated text of the Capital Companies Act (Ley de Sociedades de Capital), and representation may be delegated in the manner provided for in those same texts.

Impact

The meeting on December 2 will simultaneously decide the return of reserves to the shareholders and the new administration scheme of Horse Powertrain Spain, S.L., two significant decisions for an industrial company based in Valladolid: the distribution of dividends charged to voluntary reserves directly affects shareholder remuneration, while the establishment of a board implies a collegiate distribution of decision-making power and the termination of the current sole administrator.

Source: Official Gazette of the Mercantile Registry, no. 217, of November 12, 2026, Second Section (Announcements and legal notices), page 7402 (official reference: BORME-C-2026-5955).