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A loss of 32.9 million euros and a bond loan on the horizon

A loss of 32.9 million euros and a bond loan on the horizon

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Communications to CMVM have informed Sporting SAD’s intention to launch one or more bond loans with a maximum value of €50 million.

Sporting’s grief revealed at the end of Tuesday night a net negative result of 32.9 million euros for the 2020/21 season, while the call for a general meeting of the company indicates the intent that requires shareholder approval, to issue one or more bonds. Loans of up to 50 million euros.

According to the document sent to CMVM, it was revealed that SAD GA will take place from 6:00 PM on October 6, at Estádio José Alvalade.

Items on the agenda of the General Assembly

1. Decision on the management and accounts report for the year ending June 30, 2021.
2. Decide on a proposal to implement the results for the year ending June 30, 2021.
3. Conducting a general assessment of the company’s management and supervision.
4. Evaluation and approval of the proposal for the variable remuneration for the executive members of the company’s board of directors prepared by the Shareholders’ Committee for the year 2020/2021.
5. Evaluation of the remuneration report prepared by the Board of Directors for the year 2020/2021, in accordance with the terms and purposes of Clause 4 of Article 245-c of the Portuguese Securities Act.
6. Evaluating and approving the remuneration policy for members of the company’s administrative bodies prepared by the Shareholders’ Committee for the year 2021/2022.
7. Deciding on the authorization given to the Board of Directors, under the terms and purposes of the provisions of paragraph 2 of Article 8 of the Articles of Association, to issue one or more bond issues, with a worldwide limit of €50,000,000 (Fifty Million Euro), to be carried out through public offerings for subscription in Ordinary bonds, with a maturity of no more than 4 years and with a unit par value of €5 (five €), these issues will take place until September 30, 2022.

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