Cádiz Football Club held both ordinary and extraordinary general shareholders meetings on Saturday 26 December in the Estadio Ramón Carranza, where strict health measures put in place by the insurance company Quirón Prevención were observed.
The General Shareholders Meeting was attended by a quorum, being more than 60%, and by all of the club directors.
Most of the shareholders that took to the floor during the meeting began by congratulating the board of directors on the club’s progress, both financially and on a sporting front.
As per the agenda, the first point of order was the chairman's report and the second was a report on last season's sporting and financial aspects, presented by club president, Manuel Vizcaíno, and board member, Jorge Cobo.
The third point examined and approved the audited annual accounts for financial year 2019/2020, as well as analysis of the management report.
The proposed distribution of this year's results and management of last year's campaign were approved as part of point four.
The fifth point set out the budget for the 2020-21 season, which amounts to 51 million euros in revenue with a forecasted profit of 3.5 million euros.
After time allocated for requests and questions, the event proceeded to the Extraordinary Shareholders Meeting, which began with the first point of order, the presentation to shareholders of the board’s report on the evaluation carried out by the Cádiz Commercial Registrar.
The second point was an ex novo repetition of the share capital increase of 19 May 2017.
The third point saw each and every one of the agreements adopted by the company's general shareholders' meeting ratified on the basis of the majorities resulting from the share capital increase.
On point four the annual accounts and the management report for financial year 2018-19 were approved by a majority, in order for them to be filed at the Commercial Register.
The fifth point also saw a majority for the approval of an increase in share capital with a nominal value of three million euros through the issuance and circulation of three million new ordinary shares of a nominal value of one euro each, with a total cash value of €3,000,000.
In the sixth point, article 30 of the club’s statutes was amended in order to establish that board members are to be remunerated, set out the system of remuneration, and the maximum annual amount that can be received by all the directors taken together.
The final act of the Extraordinary Shareholders Meeting was to deal with requests and questions. With that the Meeting was brought to a close.
