After the Board of Directors of 30 June “which defined the guidelines for a capital strengthening and the subsequent signing of the pre-underwriting contract with leading financial institutions on 30 July”, the Juventus Board of Directors approved the proposed increase of paid share capital up to a maximum of 400 million. It can be read in a note from the Juventus club. The meeting for the go-ahead for the operation is called on 29 October. Members must also approve the draft budget for the 2020-2021 financial year.
The recapitalization, the press release underlines, “is part of the measures aimed at coping with the significant economic and equity impacts of the Covid 19 pandemic and will make it possible to strengthen the capital structure of the company and rebalance the sources of financing to support the achievement of the objectives strategies of the Development Plan for the years 2019-2024, which have been confirmed: consolidation of the economic and financial balance, maintenance of sporting competitiveness and increase in the visibility of the Juventus brand “. The majority shareholder Exor (has 63.8%) “has already expressed its support for the operation and has undertaken to subscribe to the portion of the share capital increase pertaining to it”.
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