At 11:30 this morning has convened the meeting of Veneto Banca Villa Loredan Gasparini of Montello. There are two items on the agenda: the acknowledgment of the resignation of the old board of directors and the election of the new after the collapse in the bank’s accounts, saved with a capital increase by 1 billion from the fund Atlante 1.
Just six days ago, the former to Vincenzo Consoli was placed under house arrest following the orders issued by the prosecutor in Rome after an inspection of Bank of Italy. The charges are insider trading and obstruction of the public supervisory authorities. The period at the center of the investigation is the 2013/2014 biennium. Consuls, arrived at the Court of Vicenza in recent days with his lawyers for questioning by Judge Roberto Venditti, has exercised the right to remain silent.
Today Alessandro Penati, President of Quaestio, the asset management company that manages Atlas 1, in a message at the assembly, he wrote to the members “do not compromise with past management” which will in future have the right to acquire the shares of the bank “to 0.10 euro, the same price paid by atlas, whatever will be the value of the bank “. The same reassurance that Penati gave the assembly of the Banca Popolare di Vicenza, also saved the latter from Atlante 1 with 1.5 billion euro liquidity. Penati then writes that the new board must proceed “with determination” the action for damages against the old management.
“I would like to make it clear that the price of 10 cents paid by the Fund for capital increase billion “adds Penati,” he corresponded already in June to about a third of the tangible assets of the bank, a multiple higher than that of the majority of Italian banks and the fall in prices of banks on the stock market in recent weeks makes this finding even more evident “.
After the capital increase, the Core Tier 1 of the bank rose to 11.4% and the institute of Montebelluna will work” to reduce the amount of suffering and the risk profile . thus, there are all preconditions of solidity and asset security to support the new development, “writes Penati.
Veneto Banca will have to return to” pursue the interest of savers and to provide credit according to merit and not according to illegal behavior or friendship or clique, “he continues Penati in his note. “In this sense,” explains Penati, “banks will have to mark a radical break with the failed management of the past, bolstered by a new board of directors consisting of completely independent persons with recognized professionalism and whose first tasks will be to develop efficient systems for control and support the work of cleaning and revitalization that management has already begun. “
the clearly expressed strong discontinuity and the new board than in the past comes after the investigating judge Vilma Passamonti, in the order pre-trial which ordered house arrest for consuls, he wrote that the former to “never interrupted that relationship of trust and / or are personalist instituted matrix over time with some operators / market investors” and “still can to intervene in the specific dynamics of the company, possibly by exerting external pressure on managers and / or employees and / or certain “counselors.
Penati then adds that the fund Atlas is open” to any financial and industrial partnerships ” Veneto Banca “provided on the basis of actual contributions of capital and know-how for development.”
Atlas is also ready “to consider, once unmistakably initiated the work of restructuring and revitalization, and made clear on sunk costs, pricing assumptions or merger with other banks, provided they are in the interests of all stakeholders, “he added.
Meanwhile, the outgoing president Stefano Ambrosini, absent today, will be replaced Beniamino Anselmi, while in the role of a Quaestio confirms Cristiano Carrus. With him it will be also referred to a Deputy to be chosen from the other nine, or Sabrina Bruno, Maria Lucia Candida, Giorgio Girelli, Massimo Lanza, Maurizio Lauri, Alberto Pera, Daniela Toscani, Marco and Alessandra Zunino Ventoruzzo de Pignier. The new board will have 11 members, not 14 as the background, streamlining wanted by Quaestio.
The board writes in fact Penati, “has been reduced from 14 to 11 members, to ensure more efficient and with a thus saving costs. the president, vice president and managing director, showing a great sense of responsibility, spontaneously expressed their willingness to rein in their emoluments, in view of the particular situation of the bank. “
No comments:
Post a Comment