The Seat Pagine Gialle share rebounds today, after yesterday's collapse (-89% to 0,0022 euro!) due to the maxi-capital increase planned to cover the financial debt of 1,5 billion. By mid-morning, the stock recovered part of what it lost yesterday, bringing the value closer to €0,003 per share with a gain of nearly 30%.
Meanwhile, yesterday the news also arrived that the Seat board of directors accepted the settlement proposal of the former directors: from the former CEO Luca Majocchi to prominent names such as Gian Maria Gros Pietro, the directors in office in past managements with in all likelihood they will get away with paying out 30 million euros against 1,5 billion in claims for damages initially quantified against them by the company.
The decision will now have to be examined by the assembly, to be convened on 27 January. If the Board's resolution does not pass, the assembly will also be called to vote on the responsibility against the former mayors. From the in-depth analysis of the company's consultants examined today by the board (together with the conclusions on the proposed transaction of the former directors) in fact emerge "profiles of responsibility on the part of the board of statutory auditors who remained continuously in office until 14 October last".
