On 4 December 2024, as part of the so-called Listing Act package, the EU adopted Directive (EU) 2024/2810 on multiple voting share structures, commonly known as the MVS Directive. This directive requires EU Member States to allow companies seeking admission to trading on multilateral trading facilities (MTFs) to introduce or maintain multiple voting share structures, provided that certain safeguards are respected (see “Europese richtlijn betreffende meervoudig stemrecht voor genoteerde vennootschappen gepubliceerd – Corporate Finance Lab”).
A group of legal experts working under auspices of the Belgian Centre for Company Law has used the MVS Directive as a starting point for proposing a comprehensive and more far-reaching reform of multiple voting rights in Belgian listed companies (see “MVS proposal Belgian Centre for Company Law”) . The main elements of this proposal have already been set out in an earlier blogpost (see “Multiple voting shares in listed companies in Belgium”).
Corporate Finance Lab 