Global Alconaba socialist businessmen also increase positions in Prisa after bonus hike

Owner of Balearia, Adolfo Uthoris not the only Prisa shareholder to take advantage of the first available window to convert the latest convertible bond issue, closed by the company in April last year, into company shares.owner El Pais and Cadena Ser.

Global Alconabaa company whose visible face on the board of directors of the educational and media group is Andrés Varela Entrecanales and which brings together several businessmen from all over the world.

Owner of Balearia, Adolfo Uthoris not the only Prisa shareholder to take advantage of the first available window to convert the latest convertible bond issue, closed by the company in April last year, into company shares.owner El Pais and Cadena Ser.

Global Alconabathe company, whose visible face on the board of directors of the educational and media group is Andres Varela Entrecanales and which brings together several businessmen from the audiovisual and advertising world close to PSOE and José Contreras, also converted its bonds into 1.3 million shares of Hurry. , valued at a market price of almost half a million euros.

However, the conversion size This is far from the amount that they were entitled to receive from the 100 million euros of the issue.since the company controls more than 7% of the company’s shares after acquiring this stake from Telefónica more than two years ago, it may therefore have an equivalent amount of these rights, although this is not disclosed.

The shares converted to date are due to a window that opened on May 1st and lasted until the 11th. The second will begin on November 1, unless an emergency event occurs in between.

According to documents sent by Prisa to the market watchdog, the National Securities Market Commission, the company issued shares worth 58 million euros in this first conversion window of new bonds, which are added to the remaining bonds of another similar funding search. which was launched last year.

Using the funds raised, the group repaid a tranche of debt. Jr, for which 8% per annum plus Euribor were accrued. In the first quarter, the company managed to reduce its debt by 35 million euros to 798 million euros over the three-month period, the group’s revenue fell by 4%, which did not prevent the company from making a net profit of 19.2 million euros.

In a political sense, the growth of Utor’s share in the block of shares, although without the intention of applying for a position on the Board of Directorsstrengthens the weight of figures associated with the Socialist Party in the shareholding, since the businessman from Denia was active in the PSPV many years ago and the company regularly hired members of this party.