ATM | Associação de Investidores

Em conformidade com as disposições legais aplicáveis e com os Estatutos da ATM — Associação de Investidores e Analistas Técnicos do Mercado de Capitais, convoco todos os associados para se reunirem em Assembleia Geral, a realizar na Praceta 25 de Abril, 54, 1.º Esq., Sala 2, 4430-257, Vila Nova de Gaia, Portugal, pelas 09h00 do dia 16 de janeiro de 2026, com a seguinte Ordem de Trabalhos:

1. Eleição dos órgãos sociais, nos termos estatutários, com a seguinte proposta de composição:

1.1. Mesa da Assembleia Geral
- Presidente: Luís Fernando Cardoso Nandin de Carvalho
- Secretários: Rui Madureira Ferrás
Ana Cristina Teixeira Meireles

1.2. Conselho Executivo

- Presidente: Nuno Rodrigues de Oliveira Matos
- Vice-Presidente: Rui Manuel da Costa Vargas Pires
- Tesoureiro: Cláudia Sofia Brito Alves Gil
- Vogais: Boguslawa Kloszewska e Joaquim José Marques Cardoso

Ten years in the making: ECJ to hear Portugal’s class action on sell-out rights under the Takeover Directive

Lisbon — ATM confirms that, ten years after the first filings, the question raised in Portugal’s collective action has finally reached the Court of Justice of the European Union (ECJ). In 2016/2017, ATM presented the issue to an audience of over 250 lawyers, EU regulators, Maltese officials and other stakeholders, committing to bring the matter before the ECJ. A related Croatian reference touched the edges of this theme, but it is now squarely before the Court, following the conduct of Fidelidade and the CMVM. Several dozen legal opinions from professors across multiple Member States support the investors’ position. The ECJ will now provide authoritative guidance.

Procedural note. The first Portuguese reference was deemed inadmissible for failing Article 94 of the Rules of Procedure, because the referring court merely incorporated the facts “by reference” to the appealed judgment. The Supreme Administrative Court (STA) has now re-referred with a complete factual record. The case number may be reassigned.