There were many EiDF shareholders who could not get rid of their shares in the Galician electricity company specialized in photovoltaic self-consumption on Monday, once the National Securities Market Commission (CNMV) gave the go-ahead for the value to return to trading on bag after four months of suspension.
Therefore, what happened yesterday Tuesday was to be expected. To the decrease of 70% on Monday was added a new collapse of 56.33%, which left the value of the shares at a pyrrican 3.9 euros per share, almost 87% below 29.76 euros per share. that the company had set on April 14, the day it was suspended by the CNMV.
What until then was one of the great stars of BME Growth, the SME market, with a capitalization of 1,721.5 million euros and a clear candidate to make the leap to the continuous market is barely worth the stock market after yesterday’s closing , 225 million euros. In other words, 1,496 million have volatilized in just 48 hours.
The greatest losses due to this collapse are faced by its founder and CEO, Fernando Romero, who, according to CNMV data, as of December 31, 2022, owned 72.16% of the capital of EiDF through the company Prosol Energía. Together with him, two other directors of EiDF Alejandro Alorda and Julio Sergio Palmero own 7.6% and 6.63% of the capital respectively.
The remaining 14% of the capital is in the hands of minority shareholders who in recent years have opted for a company in the expanding sector such as photovoltaic self-consumption and with one of the managers also expanding in the country’s business circles.
Now, the shadow of documentary falsification, the opacity in its finances that the market regulator has uncovered based on the in-depth audit carried out by Deloitte, not only are the shareholders in danger, but also the entire EiDF business. At the end of 2022, the company had more than a hundred employees, of whom 20% were already involved in an Employment Regulation File, ERE that the company had announced after updating the data required by the CNMV.
“They shouldn’t have too much trouble. The photovoltaic sector now demands a lot of specialized labor, so it should not take them long to find a job. Another thing is what could happen to Fernando Romero if the issues pointed out by the CNMV are confirmed, ”say sources from the sector consulted.
The company has tried to refute, without any success, given the behavior on the stock market, the doubts about documentary falsification, invoices for work not carried out and even about its financial situation contained in the Deloitte report and disseminated by the market regulator. “If its certainty is confirmed, this, without a doubt, ends up in court,” they point out from the sector.
