(AOF) – The Combined General Meeting of AST Groupe shareholders approved all of the proposed resolutions with the exception of the 14th resolution, concerning the capital increase reserved for employees, rejected in accordance with the recommendation of the Board of ‘Administration. The renewals of the mandates of Jérôme Gacoin and Olivier Lamy as directors were approved for a period of 6 years. The General Meeting also approved the distribution of a dividend of 0.10 euro per share. The payment of the dividend will take place on June 24.
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Chinese real estate still in turmoil
Real estate is essential for the growth of the world’s second largest economy. However, after the setbacks of the giants Evergrande and Fantasia, other smaller promoters are having difficulty repaying their debts. The giant Evergrande is strangled by an abyssal debt of around 260 billion euros. He is fighting to pay his bond interest on time and deliver his apartments, so as to avoid a bankruptcy that would shake the entire Chinese real estate sector. The OECD believes that the risks of a sharp slowdown in China have increased with the setbacks of Evergrande. A drop of 2 points per year in Chinese domestic demand over two years would reduce global growth by 0.4 points of GDP.