Carbures is now stronger with the appointment of a new Chief Financial Officer
It has increased the number of Board Members from six to eight in order to adjust it to the Company's shareholding structure
•The Company announces the appointment of Borja Rubio de la Rocha as the new Chief Financial Officer who has come from Indra where he held the position of Executive Advisor for Public/Private Associations in the Transport and Defence markets.
•The Carbures Board has increased from six to eight members in order to better its corporate governance and adjust the board to the company's shareholding structure.
•Carbures issued warrants for a value of 35 million euros in favour of Black Toro Capital, which is one more example of the confidence in its business plan and the expected growth at Carbures.
Madrid, 2 December 2015. Carbures has begun a new phase following the Extraordinary General Meeting of Shareholders and the board of directors meeting held yesterday during which key decisions were made to progress with the company's solid and organised growth. On the one hand, the Board of Directors strengthened the company's management team with the appointment of a new Chief Financial Officer, Borja Rubio de la Rocha, as well as its corporate governance with the appointment of two new board members in order to better its corporate governance and adjust the board to the company's shareholding structure. Moreover, Carbures has closed a new financial transaction with Black Toro Capital for a value of 35 million euros through the issuance of warrants covered by a capital increase for the same amount.
Carbures continues moving forward with its organised growth by strengthening its management team. Hence, Borja Rubio de la Rocha has been hired as the new Chief Financial Officer. Prior to working at Indra, Rubio de la Rocha held the position of General Director for Investments at Prointec and, prior to that, Managing Director at Puerto Seco in Madrid. This executive, attorney and graduate in business administration from ICADE, who holds a master's degree in infrastructure management and is a graduate of the IESE General Management Programme, has extensive experience in financial, operational and business management at a technology company. Rubio de la Rocha showed his "satisfaction" with his appointment and stated, "I am grateful for the confidence the Company and its Board of Directors have placed in me. I am here to offer my experience and knowledge to a company that is already in a leadership position as a manufacturer of parts and structures made of composite materials in Europe. My goal is to help boost its growth in each and every one of its business lines".
The company's Chief Financial Officer until yesterday, Ignacio Barón, will continue working in the finance department.
On the other hand, the Carbures Board of Directors also met yesterday and approved the increase in the number of board members by two, from six to eight, in order to better the board's professional profile and adjust it to the company's shareholding structure. Thus, the Board approved the appointment of José María Vallejo Chamorro, Corporate Director for Taxes at the BBVA Group, which holds around three percent of the company's shares, as a Proprietary Director. The other seat on the Board is now held by the company's current Executive Chairman, Rafael Contreras, as a personal Proprietary Director due to his current shareholding status which is above 14 percent.
Yesterday after the Extraordinary General Meeting of Shareholders, Contreras emphasized that "the addition of a Chief Financial Officer of the likes of Rubio de la Rocha and a board member like José María Vallejo are important steps in the company's internal restructuring process as well as improvements in its management team and corporate governance. We are working to adjust the company's structure to the industrial reality around us and with this appointments, we are hoping to get ahead of the expected growth to be seen in the near future". Contreras added that "these measures allow us go further with our strategy of professionalising the executive team and our corporate governance". 35 million in warrants.
On the other hand, Carbures and Black Toro Capital (BTC) have signed a new financial transaction for 35 million through warrants (guarantees) backed by a capital increase with new shares at a price of 1.52 euros each. The Meeting of Shareholders approved the issuance of the warrants to Black Toro Capital yesterday with votes in favour by those representing 74.7 percent of the Carbures share capital.