90% of the shares of Pallacanestro Trieste are now owned by CSGI – Cotogna Sports Group Italia, a company wholly controlled by CSG and set up to operate in Italy. The formal operations which effectively sanctioned the transfer to the American group were concluded this morning in Milan.
“After extensive due diligence, we successfully closed the acquisition deal” said Fitzann R. Reid, president of CSGI. “Tomorrow morning we will be in Trieste to meet the team, the staff, the minority shareholders, partners and sponsors, the press and a delegation of fans. Today the new course of Pallacanestro Trieste has begun”.
The Shareholders’ Meeting of Pallacanestro Trieste was held today in Milan, which approved the financial statements as of 6/30/22, which close without any loss. Having acknowledged the binding purchase request by CSGI, the Board of Directors in office since November 2019, made up of Mario Ghiacci, Luca Farina, Marco Bono, Vincenzo Settimo and Gianfranco Cergol, together with the Statutory Auditors, resigned and as a last , according to the agreements made with the CSGI, has appointed the new Board of Directors of Pallacanestro Trieste.
Subsequently, the sale of the majority of the shares was formalised, at the end of which the first Assembly of new shareholders was convened in an extraordinary manner, which had the task of completing all the formalities, acknowledging the balance sheet for the current fiscal year and assuming all offices and economic and managerial responsibilities.
The first Board of Directors of Pallacanestro Trieste of the CSG era is made up of five members, four of which are indicated by Cotogna Sports Group Italia: they are Richard de Meo (President), Fitzann R. Reid (Vicepresidente), Connor Barwin, e Mario Ghiacci (Vice-President); the fifth member is chosen by the minority shareholder, Trieste Basket srl. Trieste Basket Srl has appointed the Trieste manager Andrea Boschicchio as a member of the board.
On mandate from the Board of Directors, Mario Ghiacci will continue to act as General Manager of the Club, in close liaison with Richard de Meo and Fitzann R. Reid, who will oversee the development of the company in Italy and the USA, in liaison with the founding members of CSG.
The meeting also confirmed the Mayors of the previous term, Ave Chinetti and Andrea Bussani, plus Anna Masè.
“This morning’s formal documents – he has declared Prabhdeep Sekhon, Managing Director of CSGI – they are our starting point. We strongly wanted Mario Ghiacci in our Board of Directors and in the management of the company: he maintains the role of General Manager of Pallacanestro Trieste, as a sign of continuity and to give great value to the work done so far, which will continue over time. We want to thank – he concluded Sekhon – the previous Board of Directors for the work done, and for allowing us to acquire a company with a healthy balance sheet and important prospects. Thanks also to the law firms Pavia e Ansaldo and Campa Avvocati who have respectively assisted Cotogna Sports Group and Pallacanestro Trieste in recent months”.
