Club news

FIRST PHASE IN THE CAPITAL INCREASE

11 Sep 2015
The club officially closed the first phase for the capital increase raising Ä362.463.10. It means the 6% of the target of the whole operation and the 24% of the target for this year.

Deportivo announced on Wednesday that it already sent the paperwork to the national register in order to settle the closure of the first phase for the capital increase. The club reported that it sold 6,031 shares that allowed to collect Ä362.463.10.

This operation was launched in November of 2014 with the target of collecting Ä6 million during 25 months and divided in five phases. It means that only 6% of the total was covered with the first phase. The club has an agreement with the Treasury to reach Ä1.5 million before ending the year, and for now it isnít clear if the entity will do anything against Depor if the target isnít closed, this taking in mind that only the 24% of the mark was reached with the first phase.

But it isnít a surprise that the numbers are so low at this point, after all the first two phases are reserved for small investors, for now the current shareholders. In the first phase (ended on May 31, 2015) each shareholder was only able to double their participation in the club and only 105 did it.

In the second phase (from June 1st to October 31st, 2015) the shareholders can buy shares until the limit of 1,500 (Ä90,150). It means that a single shareholder cannot owe more than the 1.5% of the club. The third phase (from November 1st, 2015 to March 31st, 2016) is focused in the season ticket members that arenít shareholders. In this phase the conditions are the same as the new shareholders cannot buy more than 1,500 shares, though the target is reduced from Ä7.8 million to Ä6 million.

The final two phases are focused in persons and entities that arenít currently related to Deportivo. In the fourth phase (from April 1st to August 31st, 2016) the club will try to get the support of the companies that currently donít owe shares of the club, while in the fifth (from September 1st, 2016 to January 31st, 2017) the club will invite the general public.

ARCHIVE NEWS SEP/15

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