THE BALL – José António dos Santos and John Textor fined by CMVM (Benfica)

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The Securities Market Commission (CMVM) has imposed fines of 75,000 euros on businessman José António dos Santos and American investor John Textor, for not communicating business with the shares SAD do Benfica to SAD and CMVM.

The Commission revealed this Wednesday the decision of the administrative contraventions, underlining that the entrepreneur, owner of the company Valoro, signed several promises of purchase and sale in 2021, but none were communicated to the CMVM, nor to Benfica.

For its part, Textor reached an agreement with Santos to buy the position of more than 20% from him, but did not communicate the acquisition either to CMVM or to the subsidiary (SAD). “This must be done within four trading days,” notes the regulator.

Family members of José António dos Santos linked to the companies were also reprimanded: António José dos Santos (brother), Dinis Manuel Oliveira dos Santos, Manuel dos Santos and Maria Júlia dos Santos Ferreira as well as the companies Grupo Valouro, Avibom, Agro-Pecuária do Alto da Palhoça and Quatro-Ventos – Sociedade Agro-Pecuária.

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