Il Sole 24 Ore will not wait for the time of the judiciary but will decide whether to proceed with the liability action against the former top management based on what will emerge "from the outcome of the investigations" in progress. This was reiterated by the president of the editorial group, Giorgio Fossa, explaining that "we will not wait for the times of the judiciary, which are long". Fossa recalled that "CEO Moscetti had a mandate for an internal audit, which is underway, and when it is completed, we will proceed".
With regard to the expenses of former director Roberto Napoletano, subject to an audit by Kpmg, Fossa reiterated that "the possible existence of liability profiles and any compensation" will be assessed.
The President's words came after a harsh indictment pronounced during the meeting approved the capital increase by Giovanni Negri, union representative of journalists who, speaking on behalf of the CDR of the whole group, did not mince words. According to reporters, a liability action against the former top management it would be "a fundamental sign of credibility of the new corporate course".
Harsh criticism from the CDR on the recapitalization, considered "modest in volume, 50 million against a negative equity in the first 3 months of 2017 of 48 million, disconcerting in terms of timing, risks simply going to help settle the debt with the banks , questionable in terms of methods, if we broaden our attention to the entire capital strengthening operation”.
As for the trend of the accounts, the ebitda of the Sole 24 Ore "is improving", assured the managing director of the group, Franco Moscetti. The latest data available, recalled the manager, are those of the first quarter of 2017, specifying that "in the following two months I guarantee you that the improvement in Ebitda is even more substantial". For Moscetti "the goal is to put the group in adequate conditions as soon as possible in a medium-long term perspective".
The Confindustria newspaper convened the shareholders' meeting on Wednesday 28 June. 68,5% of the capital is present at the meeting. The President, Giorgio Fossa, opening the proceedings, recalled that 67,5% of the capital belongs to Confindustria.
Among the key points on the agenda, the approval of the 2016 financial statements and the capital increase. Confindustria has undertaken to participate in the recapitalization for an amount of 30 million euros.
At Piazza Affari the title of Il Sole 24 Ore rises by 2,14%.
(Last update: 17.23).
