Contributed By Ferrere Abogados
Any person who directly or indirectly owns more than 10% of the capital of a publicly listed company, with a right to vote, must disclose such fact to the Central Bank of Uruguay and the stock exchange where the company is listed, within ten working days of obtaining such right. The same disclosure obligation applies to directors and administrators of issuers of publicly traded securities with respect to any participation they maintain in the issuer. Such disclosure must be made within ten working days of their appointment.
Also, companies that issue publicly listed securities must disclose the interests in the company held by directors or administrators, or by any person representing more than 10% of the capital with right to vote and any change of control in ownership. Such disclosure must be made to the Central Bank of Uruguay and to the stock exchange where the securities are traded.
Any change to the aforementioned information must be communicated to the Central Bank of Uruguay and the stock exchange within ten working days of its occurrence.