70.7 million capital injection to be made by the General Assembly
The club's main shareholder, Atlético Holdco, commits to execute its pre-emptive shareholding right by putting up 50 million euros.
The General Assembly of Club Atlético de Madrid, S.A.D., has gathered at the Cívitas Metropolitano for a meeting attended by members representing 98.78% of the share capital. At said meeting, the members approved by unanimous vote a capital injection by issuing 378,352 new shares, with a nominal value of 8.5 euros and with an issue premium of 178.60 euros per share, making a total of 70,789,659.20 euros, at the rate of 187.10 euros per share.
The club's current shareholders will have a pre-emptive subscription right to take up the new shares and if they do so, they shall pay 187.10 euros for each newly subscribed share with a cash contribution in one month following the publishing of the relevant notice in the Official Gazette of the Mercantile Registry (BORME).
Miguel Ángel Gil, Managing Director of Atlético de Madrid, spoke at the General Meeting, pointing out the huge effort made by the institution to " strike a balance between investing in infrastructures and keeping a competitive squad". This balance is reflected by the fact that the club has qualified for the Champions League for the last twelve years, as well as having finished this season among the eight best teams in Europe in the topflight. All that has been achieved while budling one of the best stadiums in Europe during that period, the cost of which has practically been recouped.
However, our Managing Director has stressed that "the new scenario that is shaping up in the football industry requires us to continue to uphold and even increase this financial effort in order to continue to be competitive, both in Spain and in Europe. Miguel Ángel Gil went on to mention the extraordinary project being developed by the club for the establishment of the new Ciudad del Deporte y Ocio, –already under construction–, which upon its completion will provide the club with unique facilities in the area around the Cívitas Metropolitano stadium, although this project would also require a greater level of investment.
Miguel Ángel Gil has undertaken before the shareholders that Atlético HoldCo, the club's main shareholder, would exercise its preferential subscription right regarding the capital increase agreed by the General Assembly, resulting in Atlético HoldCo contributing almost 50 million euros to Club Atlético de Madrid in the next few days.
Furthermore, the takeover merger of Atlético Madrileño has also been ratified with a view to adapting the Academy's model to the modern-day challenges.
