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SHAREHOLDERS MEETING 2015

04 Dec 2015
Calmed, but long night for the shareholders. The meeting lasted four hours and there were some complaints, but mainly praises for how Tino Fernández and his board have directed the club in his second year.

The shareholders meetings with Tino Fernández have proved to be long, if last year the meeting lasted five hours this time it lasted more than four. 22.3% of the shareholders were represented, so there was the needed quorum to vote the financial reports.

In the introduction the president addressed the public and talked of the situation with the companies that belong to the club. There were mixed news in this regard as the Deportienda is increasing the yearly sales, while the results of Deporclínica are also positive. But he also explained that the Deporhostelería has lost a lot of money and only cut 8,000 Euros of the losses.

About the financial situation of the club, he said that, “We are betting in a model to see Deportivo behaving as any normal company in other sector. Let’s make a balance: We had a benefit of 1.7 million Euros for the socios, 24,244 ticket holders on last season. The VIP rooms passed from been sold in 50% to 100%. We are controlling the expenses. The expenses in wages passed from 80% to 50% and we are saving with the payments to the board of directors. All the coaches are in a regular situation.”

“The TV income for the new contract could bring an extra income of 7 million euros, though we will have to pay 2.4 million euros for lying in the past regarding the financial reports. The debt with the Treasury has been increased in 4.3 million, but the debt with the banks was reduced in 5.4 million” He added.

Among the novelties is that Tino announced that the club already contacted the LFP and the Galician federation in order to launch the female squad for next season. He also presented his apologies to the Riazor Blues as he admitted his errors in the case of Jimmy’s death. He admitted that was too hurried at the moment of judging the ultras of Deportivo.

About the case of Jimmy, Tino said that, “Today’s perspective is not the same of one year ago. The first version of our information was full of errors and mistakes and it conditioned the facts. We had to appeal sanctions. We left clearly harmed. We have always demanded the authorities not to rest until those responsible are send to justice. This episode can never heal. It has opened a gap between us and threatened to divide us. They have questioned the board's actions. I want to say that we thought the best for Deportivo. You cannot always explain all the keys to all matters. "

During the final part the shareholders were able to express their opinion. There were some criticism, but almost everything were positive comments. There was no problem to approve the financial reports; actually all the points in the agenda were accepted with at least the 93% of the votes. In this way Tino Fernández succeeded in his second year at the command of the club.

ARCHIVE NEWS DEC/15

ZAPPING


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