The ordinary shareholders meeting of the photovoltaic self-consumption company EiDF approved the relocation of the companys headquarters from Barro in Pontevedra to Madrid. The meeting also ratified the 2022 annual accounts, both individually and consolidated, which were published by the group last August. The board of directors and its management for the year were confirmed, and the compensation plan for board members was approved. The founders chair Fernando Romero will receive a base annual fee of two hundred thousand euros, with a variable component up to one hundred sixty thousand euros tied to EBITDA or other targets, plus fifty thousand euros linked to market capitalization milestones. Salaries for the current and coming years for the board were established at four hundred forty-two thousand euros overall.
The board supported increasing its size from nine to eleven members by appointing four executives: Laura Bravo Ramasco, Guillermo Poch Sala, Laura Zendrera Roig, and Tiago Moreira da Silva Trinidade Salgado. The meeting also gave the green light to appoint a chief executive officer, under terms expressly set out in the senior management contract.
Voting outcomes showed strong support for the accounts. Approximately seventy-six point six percent of the total capital backed the accounts, with nearly all of the capital present or represented also in favor. Only a tiny fraction, around zero point zero five five percent of the total capital, opposed the motion. The administrative body’s management received similar approval, with roughly seventy-six point three percent of total capital supporting it and an almost negligible opposition share of zero point zero five five percent. These results reflect broad shareholder consensus at the meeting.
In addition, the announcement of moving EiDFs registered office to Madrid received approval to position the company closer to financial markets and the economic activity where part of its business operates. The current Barro headquarters in Pontevedra will continue to perform its routine activities as the relocation proceeds.
Reorganized accounts
The renewable energy group underwent a reformulation of its accounts due to disagreements with its auditor, PwC, following a forensic review conducted by Deloitte. The company faced a four month trading suspension on BME Growth from mid-April to mid-August because of audit issues in the presentation of its accounts. Since resuming trading, EiDF has experienced a substantial decline in stock price, trading near five euros after a previous high around thirty euros in April. The securities market performance post suspension reflects investor concerns tied to the accounting adjustments.
Shareholders, including the chairman and founder Fernando Romero, who controls roughly seventy-two percent of the companys capital, supported several measures that empowered the board to steer governance. The company stated it would continue to pursue its strategic direction, with leadership emphasizing ongoing work on the established plan.
new signatures
The board also endorsed hiring a chief executive officer under terms defined by the executive management agreement. Additionally, EiDF decided to appoint a new compliance officer to strengthen governance. The officer will be drawn from the companys legal department and will lead the Regulatory Compliance Committee, established with the input of the commercial director and other department heads.
The company emphasizes that its purpose remains to ensure all business decisions comply with applicable laws and align with the corporate values and principles guiding the groups activities.