Crash of Indra on the stock market after the government's assault on the company's board. Indra's share price sank almost 20% at noon, falling below 8 euros per share. In the middle of the session, the value began to stabilize with a fall of 18%, although far from equaling the opening values of 9.57 euros per share. Finally, the technology has closed with a fall of 14.76%, to 8.64 euros per share.
The market overreaction comes after the State Industrial Participation Society (SEPI), SAPA Placencia and Amber Capital have turned Indra's board upside down after appointing Jokin Aperribay as proprietary director for the Basque group and promoting the dismissal of four directors independents at yesterday's shareholders' meeting.
In addition to the assault on the governing body of the listed company, the president of the CNMV, Rodrigo Buenaventura, has announced this Friday that they have already contacted Indra to request more information about the surprise dismissal of four independent directors, decided yesterday by the general meeting of shareholders, informs Carlos Manso. The head of the CNMV has called the departure of the 'independents' Alberto Terol, Carmen Aquerreta, Enrique de Leyva and "worrying in the sense that it could call into question the quality of good governance". Ana de Pro from the company's board of directors.
This Thursday, the representative of Amber Capital, which has just over 4% of Indra and is the largest shareholder of Prisa, made a request to introduce an item outside the agenda of the meeting with the aim of dismissing Alberto Terol, Carmen Aquerreta, Ana de Pro and Enrique de Leyva. Likewise, the re-election of Isabel Torremocha, also an independent, did not go ahead. Consequently, the newly appointed Francisco Javier García Sanz and Silvia Iranzo remain as the only independents.
As ABC published yesterday, this maneuver grants absolute control of the council to SEPI. The change of direction that was executed in the meeting this Thursday, thus definitively granted control of the council to SEPI and put an end to the rebellion initiated by the independent directors.
For his part, Aperribay, a member of the founding family of SAPA Placencia, received 53.1% of the votes to be a director, despite having a report against the Remuneration Committee. A percentage practically identical to that of shareholders who have supported the dismissals. Together with Aperribay, Miguel Sebastián, Antonio Cuevas, Francisco Javier Sanz and Luis Abril, this executive, all with votes above 90% of the shareholders, renewed their mandate as directors.
The board resulting from the meeting is made up of two independent directors, three proprietary directors, the president of the company, Marc Murtra, as another external director, Abril and Ignacio Mataix as executive directors, Guillermo Guerra as secretary and Fabiola Gallego as deputy secretary of the board.
These should soon be joined by Juan Moscoso, who will be the third director of SEPI after the public holding company has exceeded 25% of the capital, which allows it to choose a new representative.