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Sporting SAD AG: new deadlines for VMOC conversion approved – Sporting

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Two points of vote were approved by a clear majority without votes against

Chairman of Sporting’s general assembly board, Bernardo Ayala, has highlighted the “efficient” way in which general assemblies were held, one for SAD and the other for VMOC holders in 2010 and 2014. Both voting items were approved by a clear majority without a vote. on the other hand, a detail that left the manager Leo quite satisfied. “Everything went in the best possible way on an important day. Everything was done in a very civil, efficient manner, and everything that needed to be deliberated was deliberate. We left here satisfied not only work but also results”, summed up the Leonine leader. before explaining the practical results of the meeting: “As we know, VMOCs are convertible into SAD shares, and that is not what was decided here. What was decided are the time windows in which this can be done, and beyond what was already planned in the past, two additional windows have been created, one from July 13 to July 30 of this year, and the other will be a recurring window until in 2026 from July 1 to July 30. authorized”. In this way, the reinforcement of the club in SAD, objective of the administration of Frederico Varandas, is closed. The payment to Millenium BCP was guaranteed by anticipated income. The outstanding amount would be nearly 84 million euros (83.417 M€), but SAD negotiated the repurchase of each title for 16.8 cents, well below the sale price which was 1 euro.

By Andre Antunes Pereira

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