News Briefs (30-09-2020)

Board meeting

Summit Power Limited: A meeting of the board of directors will be held on October 07, 2020 at 3:00 PM to consider, among others, audited financial statements of the company for the year ended on June 30, 2020.

— CSE Online

Ex-IMF chief Rato acquitted in trial over Bankia's IPO

MADRID, Sept 29 : Former IMF chief Rodrigo Rato was acquitted on Tuesday of fraud charges and falsifying accounts after a high profile trial over the IPO of Bankia, when he was chairman of the Spanish bank. Rato, who always denied any wrongdoing, resigned as chairman of Bankia in May 2012. He is serving a 4-1/2 year sentence in after being found guilty of embezzlement in a separate trial over the misuse of company credit cards while he was at Bankia. Another 33 people and entities charged in the trial relating to the bank's ill-fated 2011 listing were also cleared of any charges, a sentence published by Spain's High Court showed. This included Bankia BKIA.MC itself which is in the middle of a merger with Caixabank CABK.MC. Rato's lawyer did not reply to a request for comment, while Bankia, which had denied any wrongdoing, declined to comment.

— Reuters