Duro Felguera continues to suffer in the market
Duro Felguera will hold its Shareholders’ Meeting on June 30. And it will take place in a much calmer environment, compared to what the company has gone through, awaiting rescue, in the preceding months. In fact, It will be a before and after in the long-distance career of a company that has public support and with vigilant SEPI.
The Board will serve, for example, to ratify the members of its new Board of Directors in which SEPI will enter and to ratify Jaime Argüelles as the new CEO of the Company under the presidency of Rosa Aza. Also to endorse the departure of the former CEO of the company, José María Orihuela.
Another issue involves the bank refinancing of 85 million debt, which in the end, in its agreement with the entities, served as a definitive cover letter to receive the rescue. Among them, the one referred to the 52 million euros of the total indebtedness that will become convertible bonds into shares, so they will have to undergo a capital increase, where the lion’s share, more than 24% will go to Santander.
The participative loan in two tranches and a line of guarantees worth 80 million euros will also be endorsed. Y It also includes the cancellation of 142 million euros in convertible bonds of class B and extending the maturity of 90.7 million in convertible bonds, this time of class A, after the agreement of three years ago between the banks and the company.
In its stock chart we see how the cuts take hold of the value in the short, with sustained losses in the last 20 sessions that reach 11.33%. But it maintains the gains from the beginning of the year, 56.7%. However, and under the euro per share, it separates it from its highs by 54%.
Duro Felguera YTD quote
The Investment Strategies premium indicators place Duro Felguera in a total score of 5.5 out of 10 possible points, in consolidation mode and with a downward revision. Among the favorable aspects, without a doubt, the long-term upward trend, the slow positive total moment, the increasing long-term volume and the decreasing medium-term range of amplitude stand out. On the other hand, the downward trend in the medium term stands out, the negative rapid total moment, the decreasing volume in the medium term for the value and also the long-term volatility that is increasing.
Hard Felguera premium
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