EiDF It will be listed again in BME Growth from 8:30am next Monday. The National Securities Market Commission (CNMV) recently Announced the end of the precautionary measure it had put in place on April 14, after the Galician company did not publish its 2022 results report on time. for those concerned Disputes with your supervisor PwC. He did so with some of the results of the ‘forensics’ report commissioned by Deloitte on August 17 to analyze these accounting differences. This was not enough for the supervisor, who demanded more information from the photovoltaic self-consumption group in the face of “facts and evidence of great importance to shareholders”. “Among all of this, evidence stands out that documents have been tampered with by the company,” he said.
While it does not have direct authority over periodic financial information, the CNMV reminds that listed companies must provide “market abuse behavior”, including an obligation to provide the market with privileged information required by law. And that wasn’t the case, according to the agency that gave the EiDF an ultimatum to normalize the market. I had until 8:00 am today to give you more details about the alleged irregularities Deloitte has uncovered. and also “without any explanation, comment or addition from the company”. Otherwise, CNMV was keen to bring the whole ‘forensics’ thing to light. The release of the information finally comes to an end with the stock market blockade of the Barro-based firm, which has been harshly reprimanded by the CNMV and has raised many doubts about its internal management.
In today’s response, EiDF is what Deloitte mentioned “Strong leadership” by CEO and main shareholder Fernando Romero, “both in the commercial field and in the field of business development or finance”. “The various evidences collected demonstrate firsthand involvement in nearly all decisions of the company“In some of the activities and operations with the analyzed third parties, cases where documents were created, altered or falsified, as noted below, have been identified”. Practices that will affect their relationship with their customers, debtors and partners.”
Forensics foundEvidence of possible falsification of contracts and documents drawn up by persons responsible for the company“Three of four partners analyzed” to justify “lack of control” over companies set up for projects. All borrowers reviewed by Deloitte offer “a direct or indirect link” to Romero “with a large number of relative events, among other issues that could not be achieved or Invoices and payments for unjustified services, as well as “forgery of documents” may be false invoices.
51 works from 35 customers passed through the hands of Deloitte experts. They identified possible invoicing situations in material delivery without an administrative construction permit.. In addition, amounts invoiced for work that did not correspond to the cost performed at that time, or “costs recorded despite the absence of invoicing, are not economically and operationally reasonable, so revenue recorded according to the degree of progress will not be reflected”. the truth of the matter”.
CNMV forced EiDF to go even deeper into its decision to hire a new CEO. The company has already announced that it is looking for a “profile” to a “well-known prestigious firm”. He attributes this to “reorganization of executive functions” and the time required for this is 6 months.