Infotech

A former Zodiac executive accused of insider trading by the AMF



Posted on Jul 2, 2021 3:45 PMUpdated on Jul 2, 2021, 5:28 PM

It is rare that former bosses of listed companies appear before the sanctions commission of the AMF (Autorité des Marchés Financiers) for insider trading. Yet this is the second time this has happened in a week. After two former executives of Soitec and LafargeHolcim, on June 25, Didier Domange, chairman of the Zodiac supervisory board until January 2018, was heard on Friday morning by the AMF judge. He is accused by the stock market policeman of having used inside information to buy Zodiac shares.

The affair dates from the end of November 2016. At that time, Safran and Zodiac have been discussing discreetly for eleven months with a view to a possible merger. The negotiations ended on January 29, 2017. However, on November 23 – the day after the meeting of financial analysts presenting the group’s annual accounts – Fidoma, the family holding company owned by the Domange spouses, their children and their grandchildren, passed a purchase order for 195,000 Zodiac shares, for an amount of nearly € 4 million. The transaction goes through its usual intermediary, Banque Sainte Olive. Fidoma, which owns 8% of Zodiac, has one particularity: its stake in the group is its only asset.

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