the hotel Barcelona Renaissancevery close to the stadium where the main team will move for two seasons from next year, was the scene this Tuesday. Regular and extraordinary general meeting of Betis shareholders. An assembly without surprises, in which Board of Directors easily fulfilled the thirteen items included in the agenda, in which the previous year’s accounts, the current year’s budget and many changes to the club’s charter were put to the vote.
The representation of the Green-White Club at this convention was 75.11% of the total shares of the club, With 176,479 present, represented or who carried out the electronic voting of 235,000, in which the share capital of the organization was approved (just over 14 million euros) after the capital increase in the middle of the year Junta normally, and legislative amendments that required an enhanced majority to move forward were voted down.
He Betis presented positive result: 321,893 euros at the end of the last financial year, when the capital increase of more than 40 million euros between shareholders had a very positive effect on both economic control; La Liga both with own funds and standing, allowing the club to access a €125 million loan Goldman Sachs long-term, in which the previously opened credit operations are combined with an average interest rate of 6.3% and a three-year capital shortfall (which in some cases reaches 12% interest).
Almost 70 percent voted in favor
Shareholders approved the company’s annual accounts in favor of 69.2% of the club’s share capital (162,793 shares in favor of the club’s 235,000, and more than 90% if we consider only the shares represented at this meeting, with 13,276 shares against and 420 abstentions), and Application of the result of the year ended June 30, 2024 by 69%. total favor (162,359 votes in favor, 13,114 against and 1,016 abstentions).
the leadership of Board of Directors It was also approved by the same number (162,288 for, 13,275 against and 926 abstentions). budget for the season continues (161,994 in favor, 13,317 against and 1,178 abstentions), which reaches 183 million euros, and the re-election. Rafael MuelaA healthcare professional as a director for the next five years (149,039 in favor without the participation of Anthea’s shares, 438 against, 1623 against).
The statutory amendments have been approved
The next six items on the agenda, which caused the most confusion and doubts among the shareholders during legislative changes or the deletion of certain articles, also received the support of the majority. Since Amendment of Article 2 related to the corporate purpose, for allow the formation of sports departments and effective development of ancillary and non-essential economic activities (162,269 in favor, 13,188 against and 1,032 abstentions).
Specific amendments to Article 8 (which was a verbatim transcription of the book article. Sports Law 1990 which has already been revoked entry of foreign capital in sports associations), 9 (significant participations in sports associations), 13, 14, 17, 19, 23, 24, 25, 27, 28, 30, 32, 34, 38 and 39. Regulations with the exclusive purpose of updating them to adapt them to the corporate and sporting regulations in force and to delete references and references to already repealed rules and regulations (160,517 actions for, 14,647 against and 1,325 abstentions).
The people who are most concerned about this are the ones who end up selling, and I’m telling you this because they’re selling to us.
President in this matter regarding the possible entry of foreign capital Angel Haro “The current statute, in addition to being outside the current legislation, does not protect the entry of foreign capital, because they can do it through a subsidiary in Spain. I am one of the few shareholders. After the meeting, I say that my goal is to sell my shares, but that my children inherit them. The people who are most concerned about this are the ones who end up selling.“And I’m telling you this because they’re selling us out.”
The budget will not pass the Council
the change of grammatical errors in articles 20 and 22 It was approved by a very large majority (173,291 in favor, 520 against and 2,678 abstentions). Amendment of Article 26 of Regulationsis relative Formation and operation of the board of directors To update the formal requirements for representation at Board meetings (160,443 for, 12,998 against and 3,048 against).
Due to economic control measures La Liga and the dates on which Shareholders’ Meeting (“We have to send a budget that is binding on the club, even if it is corrected in September, without board approval, which is not due until December; that is, now we are making a mistake,” said the secretary). Betis Board of Directors the agenda included deleting Article 31 and not creating an obligation to put the budget to a vote in assemblies (approved with 158,943 votes in favor, 15,084 against and 2,462 abstentions).
Finally, in a long list of statutory changes, shareholders Betis agreed to remove Article 40 and the statutory provision for arbitration, which had not been used and which, according to the Council, would undoubtedly give rise to ordinary justice (174,011 votes to 1,020 and 1,458 abstentions). Advice to perform and record Commercial register approved changes Regulations (174,566 in favor, 656 against, 1267 abstentions).
With Joaquin, Fajardo and the senior staff
It Meeting of shareholders in 2024 Betiswhich was attended by the management staff of the club, including the sports director, Manu Fajardo, or former captain and major shareholder, Joaquin Sanchez, concluded with the routine approval of the authorization of taxation, acquisition or disposal of fixed assets to simplify operations in various transfer markets (161,677 votes in favor, 13,516 against and 1,296 abstentions).