Club news

THIRD PHASE TO INCREASE THE CLUB’S CAPITAL

04 Nov 2015
Deportivo launched on Monday the third phase to increase the club’s capital. The club needs to collect €1.5 million before the end of the year; by May the amount collected was only around the €362,000.

Monday marked the start in the third phase to increase the capital of Deportivo. According to the agreement reached with the Tax Agency (AET) the shareholders of the club must invest money in the club as the compensation for the concessions made by the AET.

In this way, in the shareholders meeting of 2014 it was decided to increase the capital between €6 and €7.8 million. Despite the amount, the only obligation of Deportivo with the AET was to reach €1.5 million before the end of 2015 and for this it was designed an operation divided in five phases.

The first two faces already ended, both with the current shareholders as the target, for the moment the club hasn’t informed about the results in the second phase, but two months it was informed that the first phase covered €362,463.10

The third phase started on Monday (from November 1st, 2015 to March 31st, 2016) and is focused in the season ticket members that aren’t shareholders. The limit is that they cannot buy more than 1,500 shares (€60.1 per share). The last two phases in this operation are focused in persons and entities that aren’t currently related to Deportivo.

For the moment it isn’t clear the penalization that the club cold face with the AET in case of not reaching that amount, but president Tino Fernández has said that he’s convincing in reaching the mark of €1.5 million before the end of the year.

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