Old Pescanova filed an appeal against a June 27 sentence, in which the judge dismissed Pescanova’s contestation against a capital increase approved by the board of directors of Nueva Pescanova in April 2017.
The €135.4 million ($157.8 million) capital increase allowed the dissolution of old Pescanova’s participation in the Nuevas Pescanova from a 20 percent stake to a 1.65 percent.
“The capital increase was fully conducted by Nueva Pescanova’s creditors," the notification by Pescanova shareholders said. "Pescanova was not able to participate in the increase, and it didn’t get the right for preferential subscription.”
