Juve, OK Board of Directors to increase capital up to 400 million

The board of Juventus approves the capital increase up to a maximum of 400 million euros. The club made it known with a press release from the board on its website, below. “Following the meeting of the Board of Directors held on June 30th which defined the guidelines for capital strengthening and the subsequent signing of the pre-underwriting contract with leading financial institutions on July 30th, the Board of Directors of Juventus Football Club SpA, which met today in Turin, under the chairmanship of Andrea Agnelli, approved the proposal for a paid share capital increase up to a maximum of 400 million, including any share premium, through the issue of new Juventus ordinary shares, without of nominal value expressed and having the same characteristics as those in circulation, to be offered as an option to those entitled (the “Capital Increase”) and, for this purpose, resolved to call the Shareholders’ Meeting for next 29 October 2021, in single call, to approve, inter alia, the draft budget for the financial year 2020/21 “. “The Capital Increase is part of the measures aimed at coping with the significant economic and equity impacts of the Covid-19 pandemic and will make it possible to strengthen the Company’s capital structure and rebalance the sources of funding to support the achievement of strategic objectives of the Development Plan for the financial years 2019/24 (the “Development Plan” or the “Plan”), which have been confirmed: consolidation of the economic and financial balance, maintenance of sporting competitiveness and increase in the visibility of the Juventus brand “. The majority shareholder Exor NV (which holds 63.8% of Juventus’ share capital) has already expressed its support for the transaction and has undertaken to subscribe the portion of the share capital increase pertaining to it. Furthermore, as already communicated on 30 July 2021, Goldman Sachs International, JP Morgan AG, Mediobanca – Banca di Credito Finanziario SpA and UniCredit Corporate & Investment Banking, which will act as joint global coordinators and joint bookrunners, have signed an agreement for the pre-underwriting with the Company, undertaking – under conditions in line with market practice for similar transactions – to enter into an underwriting agreement for the subscription and release of the newly issued shares that should not be subscribed at the end of the auction of unexercised rights “.” The Extraordinary Shareholders’ Meeting is expected to grant the Board of Directors every broader power to define the terms and conditions of the transaction, including the issue price and the share premium, definitive amount of the Capital Increase and the number of newly issued shares to be offered in option to Shareholders, as well as to determine the t empistica for the execution of the Capital Increase “.