OHLA - comment
OHLA has finally sought to postpone the coupon payment beyond the EGM on 21st October. The company must still finalise its bank agreements and close the full €150m capital raise. The CNMV has approved the process, but some dissenting shareholders object to the dilution of their holdings and could seek court action. We would expect a judge to throw out the claims as the alternative is a restructuring that would wipe out the equity. The shareholders have a point to the extent that dilly-dallying by the Amodio brothers on executing asset sales is the reason OHLA is in this position.
https://www.cnmv.es/webservices/verdocumento/ver?t=%7b44059f1f-eb97-457f-9900-8c2453838c1b%7d