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Can the company’s Articles of Association grant a pledgee the right to exercise shareholder rights?
The Resolution of the Spanish Directorate-General for Legal Certainty and Public Faith (Dirección General de Seguridad Jurídica y Fe Pública, or “DGSJFP”) dated 28 April 2026 addresses the possibility of granting a pledgee, through a company’s Articles of Association, the right to exercise the shareholder rights attached to pledged shares, as well as the limits…