Urbas soars 44% after the change of president

  • Juan Antonio Acedo takes over from Juan Antonio Ibáñez
  • The board also appoints him CEO

The actions of Urbas soar in the Continuous Market after the company communicated this Wednesday morning to the National Stock Market Commission (CNMV) the replacement in its presidency, in which Juan Antonio Acedo disembarks, in representation of Quamtium Venture.

The real estate has closed with a rise of 44.19% to reach a price of 0.0062 euros in the heat of the changes in the board of directors.

Before the opening of the markets, Urbas communicated to the supervisor that his board of directors has accepted the resignation of Juan Antonio Ibáñez Fernández, representative of Robisco Investment, in his duties as president and CEO, “showing him his most sincere gratitude for the work carried out in attention to the diligence and collaboration shown at all times”.

In replacement of Ibáñez, the board of directors has unanimously appointed a new president and CEO to Juan Antonio Acedo, on behalf of Quamtium Venture. The new head of Urbas, who until now held the position of vice president and who controls about 27% of the company’s capital, is a civil engineer and has developed his professional career of more than 25 years in groups “with a great volume of national and international business in the real estate, construction and energy sectors, in which he has held positions of maximum responsibility ”, the company explained in its statement to the regulator.

The construction company has explained that Acedo “is also endorsed by his experience within the board of directors of listed companies and companies that do not trade on the stock market.” He himself has been designated as CEO with “all delegable powers, in accordance with the provisions of the law, the bylaws and these regulations, thus corresponding to the effective management of the company’s business ”, specifies the note sent to the supervisor.

Despite the drastic rebound that the company reaches in some bars of the session, the rise barely translates into increases of 0.0019 euros per share as a result of the collapse that the company has suffered with the introduction of the new trading lows by title on the Spanish stock market a few months ago.