Real Oviedo today held its Ordinary and Extraordinary General Shareholders' Meeting, which saw all five items on the agenda passed.
The attendance at the Ordinary and Extraordinary Meeting, held at the Palacio de Congresos y Exposiciones in Oviedo, saw 67.04% of the club's total capital represented. 60 shareholders personally attended, while 3 more shareholders were represented.
The meeting began with a speech from Real Oviedo Club President Jorge Menéndez Vallina, in which he used a video to summarise the key measures and advances in academy, community and commercial areas carried out by the club in recent years, as well as those which are being worked on for the present and future.
*Adolfo López, from Verae, gave a summary of the economic state of the club, which has seen the end of all of the historic debt which the club had previously owed to Public Administrations.*
With respect to the balance of income and expenditure, there has been a growth in advertising income (+30%). Meanwhile, the deficit stands at €50,000.
The first two items on the agenda were unanimously passed. The budget for the 2019/20 season was also passed, with two votes against it. The club's social capital following the latest share campaign has been set at €2,500,000 (including the emission premium).
The remainder of the items on the agenda were passed unanimously. The fifth item saw the modification to the Articles of Association regarding the electronic headquarters, social capital, shares and annual accounts passed.
The Ordinary and Extraordinary Shareholders' Meeting ended with an extensive round of questions and answers, which were answered by the President of the Board of Directors, and the General Manager David Alonso Mata.
First: Approval, if necessary, of the Annual Accounts for activity undertaken between 1st July 2018 and 30th June 2019.
Second: Proposal for the distribution of profits.
Third: Approval, if necessary, of the budget for income and expenses forthe 2019-2020 season.
Fourth: Report on the capital increase campaign agreed on 14th December2017.
Fifth: Modification of articles 3, 5, 6 and 32 of the Articles of Association.
Sixth: Requests and questions.
Annual accounts for the 2018 financial year
