The Ordinary General Meeting of Shareholders of Valencia CF approved this Thursday all the proposals of the Board of Directors appointed by the club’s largest shareholder, Peter Lim, thanks to its large majority shareholder and a large opposition that, although in two years it has gone from about 1,500 titles to about 45,000, it is still far from being able to stand up in votes.
As reported by the club, the items on the agenda defended by the Board of Directors were approved with between 84.77 and 84.96 percent of the shares, which means about three million titles and with an opposition of 1.26 percent, which represents about 45,500 shares.
One of the shareholders (the one who had delegated the shares of Meriton, Lim’s company) attended with 84.76 percent of the club’s shareholding, of which 86.23 was present. Regarding the number of shareholders, the proposals of the board received the support of between three and 353 shareholders and those of the opposition 2,141.
By the opacity of the club
Criticisms of the Valencian Sports Press Association
The Spanish Association of Sports Press in the province of Valencia on Thursday showed its rejection of the obstacles that Valencia has put in order to report on the development of its Ordinary General Shareholders’ Meeting, held today.
Valencia issued before the start of the Meeting a statement in which it assured that it was “totally forbidden to use all or part of the audio, video or reveal what happened during the assembly publicly, both during and after its celebration” and in the which pointed out that it reserves the right to “take legal action in this regard.”
Between the approved points were the annual accounts of the company as well as the 2020-21 campaign management report. The club reported in its day that Last year’s accounts show a deficit of 31.2 million and a forecast of losses for the current one of 36 million despite planning net sales income of 37.7 million.
The social management of the Board of Directors, the election or re-election of members of that body with Anil Murthy at the helm and the re-election of Ernst & Young SL as auditor of the accounts were also approved.
Equally a double capital increase was approved. On the one hand one of 12.98 million euros in compensation of credits and on the other one of 24.51 million in charge of monetary contributions.