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Danish pension funds criticize domestic health care firm's new share structure prior to general meeting

A new share structure is meant to beef up Lundbeck for future acquisitions, the company and its majority owner the Lundbeck Foundation say. The proposal has nevertheless been met with criticism from shareholders who fear dilution.

Lars Rasmussen, chair of the board of director at Lundbeck | Photo: Tycho Gregers/Ritzau/Ritzau Scanpix

A steadily decreasing share price and strong criticism from its base are the backdrop for Lundbeck’s annual general meeting on Wednesday.

Lundbeck’s majority owner, the Lundbeck Foundation, has proposed a new share structure, meaning that some shares would come with weaker voting rights than others. Concretely, the plan suggests that existing company shares be split into five – one A-share with ten votes and four B-shares with one vote each.

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