He Deportivo This morning he called a extraordinary meeting of shareholders for next Wednesday, June 26 at nine in the morning at the stadium Riazor and with exclusively telematic participation to approve an important financial movement. The board of directors controlled by the largest shareholder (Abanca) will promote a series of measures that include the reduction of the club’s share capital in order to “increase its salary cap to ensure its economic and sporting survival.”
Reduction of share capital
The board will vote on reducing 45,596 million share capital (the current one is 45,657,489.20 million). It will do so by reducing the value of the securities from the current 60.02 to 0.08. The objective, as announced by the club this morning, is to “compensate for losses”, which in recent years bank covered through loans. This will imply modifying articles 5 and 6 of the statutes, referring precisely to social capital and shares.
Debt capitalization
Precisely these loans will be capitalized through the issuance of 65,243,556 new shares for a total value of 5.219 million euros and a value of 0.08 euros. “The capital increase corresponds to the amount exactly convertible into shares of the loans granted by Abanca Corporación Bancaria SA in favor of the company, in order to increase its salary cap to ensure its economic and sporting survival,” the club’s announcement justifies. from this morning.
Open capital increase
The third measure is to launch a capital increase worth 5,033 million with the issuance of new shares at 0.08 euros. The operation will be open to all shareholders with the objective of “increasing the financial stability of the club.”
Modification of attendance at meetings
He Deportivo It also states that the article of the statutes referring to attendance at assemblies will be changed, although it does not specify under what terms. Until now, shareholders with at least two securities in their possession could do so.
2024-05-26 09:51:53
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