A new capital increase of 9.8 million euros is announced for Panathinaikos

The Board of Panathinaikos extended an invitation to PAE’s shareholders to attend the Ordinary General Meeting to be held on December 11 (11:00 a.m.) at its meeting on Friday (11/17), with one of the main agenda items concerning the announcement a new share capital increase in the amount of 9,853,970.40 euros.

An amount slightly higher than the last two AMKs of 9.5 million euros each announced in the “green” PAE on December 31, 2022 and June 19, 2023, respectively.

The last increase, “completed” a few days ago, as the information says, was largely covered (like all previous ones) by PAE’s major shareholder, Yiannis Alafouzos, and provided the necessary liquidity for the transfers last summer, but also PAE’s commitments in recent months in terms of contract rates, operating costs, etc.

This share capital increase, which took place after November 11th^The December, which covers all of the team’s commitments in absolute terms, at a time when their operating costs and the football department’s budget have increased even further.

In detail, the invitation from the Board of Directors of PAE Panathinaikos to the company’s shareholders

“Invitation of shareholders to an ordinary general meeting.

By resolution of the Board of Directors of the Company and in accordance with the provisions of the Law and the Articles of Association of the Company, Mr. shareholders of the Company at an ordinary general meeting on December 11, 2023, Monday at 11:00 a.m.

Am. at the company’s offices at 13 Pentelis Avenue, Vrilissia to discuss and make a decision on the following agenda items:

1) Approval of the annual and consolidated financial statements for the company’s financial year from July 1, 2022 to June 30, 2023 after hearing the reports of the Board of Directors and auditors.

2) Approval of the overall management for the fiscal year from July 1, 2022 to June 30, 2023.

3) Election of a regular and a deputy auditor for the period from July 1, 2023 to June 30, 2024.

4) Increase the share capital of the company up to the amount of 9,853,970.40 euros by paying cash into the special account of the company or, if the amount is not paid into the special account, by paying an amount spent for this purpose into any account of the company for the purposes of serve the company and settle the company’s debts to the deposit payer by issuing new shares with a nominal value of 0.30 euros. Corresponding amendment to Article 7 of the Company’s Articles of Association.

5) Election of a new board.

6) Various approvals – notices.

Each share entitles you to one vote.

In the event that a quorum is not achieved in accordance with the law and the Articles of Association, Mr. Shareholders will be invited to a recurring general meeting to be held on Monday, December 18, 2023 at 11:00 a.m. at the Company’s headquarters and its offices at No. 13 Penteli Avenue, Vrilissia, to discuss and decide on the same agenda item as above, without issuing a new invitation.

Gentlemen shareholders who wish to participate in the ordinary general meeting of December 11, 2023 or its repeat meeting on December 18, 2023 must deposit their shares in the company’s fund or in the deposit and loan fund or in a bank in Greece and submit the relevant documents to deposit Make the deposit and any legalization documents for representatives at the Company’s offices at least five (5) days before the date of the Annual General Meeting.