Capital gains, Juventus: “Operated in compliance with the law”
There Juventus “remains convinced, also taking into account the legal and accounting investigations carried out by the company with the help of its consultants and the legal and technical-accounting opinions acquired by the company, that it has operated in compliance with laws and regulations which govern the preparation of financial reports, in compliance with the applicable accounting standards and related application criteria and in line with international football industry practice “. This is what we read in a note issued by the club regarding the investigation by the Turin prosecutor.
“The accusatory hypotheses put forward by the Public Prosecutor’s Officepartly modified with respect to the original prospectuses, refer to alleged crimes of false corporate communications, false communications addressed to the market, obstacle to the exercise of public surveillance authorities (Consob, in this case) and fraudulent declaration through the use of invoices for non-existent operations “, the note from the company continues, concluding: “Based on the summary information available to the state, the facts covered by the provision relate to the financial statements as at 30/6/2019, 30/6/2020 and 30/6/2021 and are related to operations improperly called” exchange “of rights to the sports performances of players and to agreements for the reduction and integration of the remuneration of registered personnel concluded in the financial years 2019/2020, 2020/2021 and 2021/2022. extract a copy of the investigative documents pursuant to Article 415-bis of the Italian Criminal Code for the purpose of exercising their rights of defense “
Juventus and Agnelli legal, ‘full transparency in two capital increases’
“As for the general objection of having falsified the financial statements and having made improper communications to the market, Juventus and its representatives believe that they have operated in compliance with the laws and technical-accounting principles on the subject”. Thus in a note the lawyer. Maurizio Bellacosa (Severino law firm), Juventus lawyer and Avv. Davide Sangiorgio, lawyer of the President Andrea Agnelli and some managers. “Moreover, over the years of interest, Juventus has distinguished itself for having initiated, in full transparency and in full compliance with the regulations, two different capital increases – continues the press release from the lawyers -. These extraordinary operations have confirmed the solidity in the panorama of Italian football. In particular, the second capital increase, launched autonomously by the Company in June 2021, that is to say a few months before the investigation by the Turin Public Prosecutor’s Office was announced, was aimed at strengthen the Company’s assets following the strong impact of the pandemic. The amounts of these capital increases exceed and largely absorb the numbers of formal disputes of this investigation, which in any case would have no effect on the company’s debt “.
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