Real Betis Balompié SAD held its 2024 General Shareholders’ Meeting this Tuesday, December 17, a long and dense meeting due to the multitude of points on the agenda, up to thirteen, that the heliopolitan company announced for its celebration. The proposals for statutory modifications drew attention among the shareholders of the green-and-white company, which have covered all points from the sixth to the thirteenth.
Prior to the General Meeting of Shareholders, the board of directors of the Betic club justified this battery of statutory modifications as an update and adaptation to the current regulations of capital companies with respect to the European Union.
The points related to the statutory modifications that generated the most sensitivity in the days prior to the holding of the assembly were, among others, those that refer to the possibility of allowing foreign shareholders, that the budgets can be approved by the board without passing by a board and for the purpose of the company to be able to include more development concepts to allow the constitution of sports sections and the effective development of accessory and non-substantial economic activities that contribute to the social purpose. Other more striking ones were the statutory modification so that the appointment of auditors does not necessarily go through the General Meeting of Shareholders, but can be done through a meeting of the board of directors, although once appointed, information and knowledge will be given to the assembly. general. All of them were approved.
The most interesting intervention was carried out by Fernando Gamero, who showed the fear of many Betis about the possible entry of foreign capital with the suppression of article 8 of the statutes and asked for a commitment from the council. Carlos González de Castro responded that “this board of directors does not have the power to go against current legislation. The rule of not allowing the acquisition of shares by foreigners is illegal, we do not have the power to prohibit it. There have been foreign buyers for many years. We cannot have regulations that contravene current legislation,” said counselor Carlos González de Castro. «The statutes do not protect the entry of a fund of any type for the purchase of shares. It can be easily done through a subsidiary. I am one of the few shareholders who say that my intention is not to sell the shares, but rather for my children to inherit. Those who always complain that we are going to sell them are the ones who end up selling. And I tell you this because they sell them to us,” Haro responded forcefully on this question.
It was in the tenth item on the agenda when the board of directors requested the statutory modification that the approval of the Company’s annual budget must pass through the General Meeting of Shareholders. In this way, the council wants to avoid giving “competitive advantage” to other clubs and also adapt to what LaLiga asks, according to González de Castro. The club approved, in fact, a budget for this campaign of 183 million euros subject to sales. Yes, the commitment was reached to report the details of the budgets at each meeting.
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