Juventus Football Club:
Board of Directors approves the development plan
and capital increase
Highlights:
· Mid-term development plan approved
· Proposed capital increase of about € 105 million
· The majority shareholder IFIL Investments S.p.A. will underwrite its share
(60%)
· Amendment to the Company By-Laws to comply with the “legge sul
risparmio” submitted to the shareholders’ meeting
Vinovo (TO), 14 March 2007 – The Board of Directors of Juventus Football Club S.p.A.
meeting at the Vinovo Training Centre, examined and approved unanimously the mid-term
development plan that will allow the relaunch of the Company in its excellence in
sport, commercial development and strengthening of its financial position and assets.
In order to provide financial support for the development plan, the Board of Directors has
resolved to propose to the shareholders' meeting a capital increase of about € 104.8
million, including the share premium, through the issue of no. 80,621,332 shares to be
offered as a rights issue to the shareholders with the exchange ratio of no. 2 new shares
for every no. 3 shares possessed. The shareholders' meeting will be called by the
chairman or the chief executive officer on the mandate of the board.
The issue price is € 1.30 per share (of which € 1.20 for the share premium). The share
price at the close of the stock market yesterday was € 1.87.
The majority shareholder IFIL Investments S.p.A., the holder of 60% of the capital of
Juventus Football Club, will underwrite its share.
In the coming weeks, Juventus Football Club will assess the possibility of constituting a
consortium to guarantee the underwriting.
The launch of the capital increase is planned indicatively for the month of May, after the
shareholders’ meeting and the authorisation by Consob.
The financial advisor for the operation is Rothschild.
The mid-term development plan approved by the Board of Directors has been defined
taking into account the following objectives:
1. Assertion of leadership in European football
The Company will strive for excellence in sports performance, linked to the quality of the
team and the technical staff.
The current composition of the team is characterised by the presence of outstanding
players, alongside young talents who are developing experience on the pitch. The
objective of the development plan is to ensure the competitiveness of the team in Serie A
and at the international level, strengthening all sectors and ensuring at the same time
the stability of the technical staff. The plan envisages further reinforcement of the youth sector and the scouting system, so as to guarantee a constant influx of talents to the first
team.
2. New commercial strategy
The Plan envisages the introduction of a new marketing strategy that will make a
significant contribution to the further development and enhancement of the Juventus
brand. A new strategy will also be developed that will enable the identification of a small,
select group of national and international partners that can offer a significant contribution
to revenues and enhancement of the brand. The Company’s intention is to identify the
new main sponsor for the team shirt by the end of March. Further actions will be taken
for the key international markets, including team tours and friendly matches.
3. Solidity of assets and financial position
From the financial point of view, the objective over the period of the plan is to implement
a model of sustainable development that enables excellent football performance,
guaranteeing the financial balance of the Company.
The capital increase will allow the Company to achieve a considerable reduction in debt
and new investment capacity thanks also to the generation of adequate cash flow. To
ensure the competitiveness of the team, investments in footballers will be made starting
from the next player market.
As regards the project for the new stadium, we confirm what has been recently
announced, i.e. that the implementation phase is subject to the definitive agreements
with the City of Turin, the Government and FIGC concerning credit facilitations for
financing of no less than € 120 million and the provision of any guarantees required to
support the financing in the framework of Italy being awarded the 2012 European
championship.
________ . ________
The Board of Directors also resolved to submit to the approval of the extraordinary
shareholders' meeting some changes to the By-Laws, specifically to Articles 11, 12, 13,
15, 19 and 22. These variations are dictated by the need to amend and integrate the
By-Laws to comply with Law no. 262 of 28/12/2005 (Legge sul Risparmio) as amended
by Legislative Decree no.303 of 29/12/2006. The ordinary shareholders’ meeting will be
called to resolve upon the confirmation of the appointment of the director Aldo Mazzia,
co-opted by the Board of Directors on 13 November 2006.
_______________________________________________________________________
PRESS OFFICE
Tel. +39 011.6563436
[email protected]
INVESTOR RELATIONS
Marco RE
Tel. +39 011.6563456
[email protected]
Buy on AliExpress.com
