Bolsamania speaks with Liberto Campillo, director of Development and Expansion of the company
Madrid, Spain, 10th Jul 2023 – Nyesa has experienced a (voyage in the desert), as its director of Development and Expansion, Liberto Campillo, admits to Bolsamanía. It has been a hard fight to avoid the liquidation that is (very close) to reaching the end and in which the acquisition of Henara (with 50.03%), approved at the Shareholders’ Meeting on June 26, will play an essential role.
This acquisition is going to allow us to start being a company within normal standards again, said Campillo, who recalled that Nyesa currently has a bankruptcy debt of 16 million from the initial 1,300 million, and that the input from the cooperative manager is essential to settle it.
Henara’s entry is the way for the company to get out of this situation, says Campillo. In the next three years there will be 15 million euros of billing from Henara with the projects that are already signed today.
Nyesa’s Director of Development and Expansion hopes to continue growing significantly in the near future. We understand that entering Henara’s capital already implies a new generation of (cash flow) by the company to meet the payment requirements of the agreement and also to create value for the shareholder and have liquidity to make new acquisitions, he explains.
Although they are open to other companies following Henara and “joining the bandwagon, whether they are cooperative managers or other types of companies, right now Nyesa’s effort is focused on getting land. The operating mechanism of a cooperative manager is based, first of all, on obtaining the land, which entails difficulties. We provide Henara with an important portfolio of land and relationships with almost all the relevant ‘players’ in this market Henara provides the management capacity of these lands, explains Liberto Campillo, who foresees that these contracts signed for 15 million euros in three years (quickly) can increase.
Campillo delves into the benefits of an operation like the one carried out with Henara for all parties. A listed company gives an unlisted company the possibility of changing an illiquid asset for a liquid asset. From this point of view, it is tremendously interesting to change unlisted shares for listed shares, which always gives a plus of liquidity and ability to organization.
The management team of the company are convinced that we can move this forward
At the Shareholders’ Meeting at the end of June, the shareholders approved a non-monetary capital increase for the entry of that 50.03% of Henara into the capital of Nyesa, with a view to a merger around 2024, he specifies Campillo. A second non-monetary capital increase was also approved, which was (an act of chivalry) by the directors who, instead of collecting their allowances, have chosen to convert the collection rights into capital. Third, authorization was requested from the Board to delegate monetary increases of up to 50% of the capital to the Board of Directors , to do so once or several times.
FALLS OF 60% IN THE YEAR
Nyesa is the worst value of the Spanish Stock Market in the year, with a collapse that exceeds 60% in the midst of the complicated situation of the company that is now beginning to change, according to its managers.
The company had a bankruptcy in 2011 of 1,300 million euros of total bankruptcy debt. In 2014 the agreement with the creditors was approved and in 2021 the bankruptcy legislation allowed him to have a new one, which was approved in May. The first payment must be made in May 2026.
Although technically it is not yet out of danger, as Liberto Campillo acknowledges, something that will not arrive until the contest is over, the prospects are optimistic for all that has been stated above. The management team of the company are convinced that we can move this forward, he concludes.
Media Relations
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Media Contact
Organization: Nyesa Valores Corporación
Contact Person: Mr. Liberto Angel Campillo Molina
Website: https://nyesa.com/
Email: [email protected]
City: Madrid
Country: Spain
Release Id: 1007234510
The post Nyesa Valores Corporacion Secures Lifeline with Henara Acquisition to Navigate Challenging Times appeared first on King Newswire.
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