Juventus launches 104.8 mln eur capital increase to cut debt, relaunch club (3 Viewers)
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Events - 20 Apr 2007 - 6:04 PM
Capital increase approved
An important meeting of the shareholders, that comes before the Board of Directors deliberation about the stadium matter. From the Company’s point of view, April 20 will be remembered as a decisive day.
Let’s proceed in order: the failed award of the 2012 Europei to Italy has made Juventus reflect about the Stadio delle Alpi future. In fact, as remembered, the candidacy of Italy comprehended also the new Turin’s stadium: a structure with 40.000 seats, inserted in an ideal contest for the free time (shops, entertainment, and more); to realize it, a funding of 120 million euros, at a concessional rate, would have been granted.
The today Board of Directors acknowledged with sorrow a decision that penalises Italy and, - as written in the official release – “it has entrusted the managing director Jean-Claude Blanc to examine closely the appropriate initiatives”. A period of reflection that also originates from the necessity to understand which the orientation of the Government will be about the Italian stadiums.
At the end of the Board of Directors’ meeting, started that of the shareholders, which after a long and detailed discussion, approved with a large majority the 104,8 million euros capital increase. The news of the day is the announcement of shareholder Lafico (who possess 7,5% of the shares) about his intention to subscribe this increase. A positive signal, which is added to the guarantee, already announced on March 14, that IFIL, the majority shareholder, will cover the share of its competence (60%).
An important day, we were saying, also enriched with an intervention which gave the present shareholders (almost always supporters) some emotions. The honorary president Giampiero Boniperti came up to speak and invited Juventus’ fans to turn over a new leaf, to get over the worst moments of the recent past, and to give the project some confidence. An unexpected intervention, spontaneous, which has given serenity and confidence, re-sewing the history and the future of Juventus.
Juventus.com
Capital increase approved
An important meeting of the shareholders, that comes before the Board of Directors deliberation about the stadium matter. From the Company’s point of view, April 20 will be remembered as a decisive day.
Let’s proceed in order: the failed award of the 2012 Europei to Italy has made Juventus reflect about the Stadio delle Alpi future. In fact, as remembered, the candidacy of Italy comprehended also the new Turin’s stadium: a structure with 40.000 seats, inserted in an ideal contest for the free time (shops, entertainment, and more); to realize it, a funding of 120 million euros, at a concessional rate, would have been granted.
The today Board of Directors acknowledged with sorrow a decision that penalises Italy and, - as written in the official release – “it has entrusted the managing director Jean-Claude Blanc to examine closely the appropriate initiatives”. A period of reflection that also originates from the necessity to understand which the orientation of the Government will be about the Italian stadiums.
At the end of the Board of Directors’ meeting, started that of the shareholders, which after a long and detailed discussion, approved with a large majority the 104,8 million euros capital increase. The news of the day is the announcement of shareholder Lafico (who possess 7,5% of the shares) about his intention to subscribe this increase. A positive signal, which is added to the guarantee, already announced on March 14, that IFIL, the majority shareholder, will cover the share of its competence (60%).
An important day, we were saying, also enriched with an intervention which gave the present shareholders (almost always supporters) some emotions. The honorary president Giampiero Boniperti came up to speak and invited Juventus’ fans to turn over a new leaf, to get over the worst moments of the recent past, and to give the project some confidence. An unexpected intervention, spontaneous, which has given serenity and confidence, re-sewing the history and the future of Juventus.
Juventus.com
So, the shareholders would compensate for losing Italy the candidacy of the 2012 Europe cup of Nations (Consequently, losing the governmental assist to restructure Delle Alpi) by another increase in the funds, which would be added to the capital increase announced on 14 March.
That's a good news indeed.
That's a good news indeed.
So, the shareholders would compensate for losing Italy the candidacy of the 2012 Europe cup of Nations (Consequently, losing the governmental assist to restructure Delle Alpi) by another increase in the funds, which would be added to the capital increase announced on 14 March.
That's a good news indeed.
That's a good news indeed.
The club announced officially on March that the shareholders reached an agreement of pumping £71.8M to be spent on the next summer including the transfers, the debts, restructuring Delle Alpi and the youth section.
Italy failed to host 2012 European cup of Nations, therefore, the government isn't expected to support restructuring Delle Alpi financially. The new is that the shareholders may release another official statement, which will perhaps include pumping of more funds.
Italy failed to host 2012 European cup of Nations, therefore, the government isn't expected to support restructuring Delle Alpi financially. The new is that the shareholders may release another official statement, which will perhaps include pumping of more funds.
It was just a confirmation for the capital increase of March...
The only new thing that happened yesterday in that meeting (And it was not mentioned in the official site) was that the Libyan shareholders confirmed that they will pay their share of the capital increase which equals 8 million euro. And adding that amount to the amount which was confirmed previously by IFRS = 70 million euro, we guaranteed to collect 78 million out of the suggested 104.8 million. The rest will be paid by other shareholders or via a general subscription...
The only new thing that happened yesterday in that meeting (And it was not mentioned in the official site) was that the Libyan shareholders confirmed that they will pay their share of the capital increase which equals 8 million euro. And adding that amount to the amount which was confirmed previously by IFRS = 70 million euro, we guaranteed to collect 78 million out of the suggested 104.8 million. The rest will be paid by other shareholders or via a general subscription...
