Oppidum Capital invests 73.8 million in EDP’s capital increase

Oppidum Capital’s Spaniards have exercised subscription rights as part of EDP’s capital increase and are preparing to invest around 73.8 million euros in more than 22 million new shares in the company. The information was provided by EDP to the CMVM.

“Oppidum Capital, a legal entity controlled by D. Fernando Masaveu Herrero, on August 3, 2020, exercised the respective subscription rights to the 263,046,616 shares representing EDP’s share capital held, to which 22,368,267 shares correspond,” is explained in the aforementioned note.

Taking into account the unit price of 3.30 euros for each new EDP share, the Spanish subscribed 22,368,267 shares in a 73.8 million euros investment. Currently, Oppidum Capital is a qualified shareholder of the national electricity company, controlling more than 7% of the capital, thus preventing a sharp dilution of its stake.

António Mexia also exercised share subscription rights, having advanced around 26 thousand euros to buy almost 8,000 new shares in EDP. The information was also provided by EDP in a statement to the CMVM, at a time when Mexia, the executive chairman, is suspended from office following the judicial investigation into the excessive rents.

“In the context of the capital increase by which shareholders are granted subscription rights, António Luís Guerra Nunes Mexia, Chairman of the Executive Board of Directors (currently with suspended functions) informed EDP that he opted to exercise his rights,” reads the note disclosed by the CMVM.

The suspended CEO of EDP and his wife, Maria da Graça Mexia, subscribed 7,922 shares, in a 26,142.6 euros investment.