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Benfica vetoes sale of shares to Textor and confirms management changes - Benfica

Benfica vetoes sale of shares to Textor and confirms management changes – Benfica

Benfica’s management met on Friday and decided to refuse to sell 25 per cent of the company’s capital to John Textor. In a statement, it was made clear that there was an absolute lack of knowledge on the part of management regarding Textor’s agreement with José António dos Santos, better known as Rei dos Frangos, but that this would be reduced, given that approval is from the General Assembly. Melancholy with “Vote for Benfica”. And this will not happen, because this process is considered “just in time”. In addition, in the same note published on the club’s official website, Al-Nusour directives are keen to point out that it makes no sense to receive businessman John Textor to discuss this matter.

Regarding the new board of directors, following the resignation of Luis Felipe Vieira on Thursday, Al-Nusour announced that Jaime Antunes, who has until now been a member of the board, has been “confirmed” as an effective vice-chairman.
Read the full statement

Contact from management
1 – The Lisbon Sports Council of Benfica met this morning to formalize, within the scope of the statute, the necessary changes in its composition in light of the resignation of the mandate of Luis Felipe Vieira. Jaime Antunes has been confirmed as effective Vice President.

2 – During this meeting there was also a reflection on the club’s current moment, with a particular focus on the public statements of Mr. John Textor and the stated interest in acquiring part of Sport Lisboa e Benfica SAD.

3 – The management of Sport Lisboa e Benfica was completely unaware of the existence of negotiations which led to the signing of an agreement to purchase 25% of the share capital of Benfica SAD between private shareholder José António dos Santos and investor John Textor. And she became aware of the existence of this agreement, the content of which is unknown, only when it was announced to the public.

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4 – As the holder of Class A shares in the share capital of Benfica SAD, Sport Lisboa e Benfica may, in certain circumstances specified in Article. 13 of that company’s articles of association, i.e., if the acquisition of a qualifying property by a competing entity is at stake, veto such acquisition. This right was specifically articulated in the Benfica SAD legal review that the club’s initiative promoted during the last period for the position of governing bodies.

5 – In view of the foregoing, and as investor John Textor claims that the above purchase is based on prior approval at the general meeting of Benfica SAD with the affirmative vote of Sport Lisboa e Benfica based on the above art. The Sport Lisbon Board of Benfica, at its meeting today, on the 13th of the SAD Benfica Statutes, announced that this process is considered inappropriate, and therefore will oppose it, in the exercise of its rights and duties, if this becomes a matter of debate. At the general meeting of Benfica SAD shareholders, he made this decision immediately public, as you understand that it contributes to clarifying the position of Sport Lisboa e Benfica in this regard, thus avoiding doubts and speculation.

6 – In this context, the Lisbon Sports Board of Benfica has made it clear that it considers it inappropriate to receive Mr. John Textor, formally or informally, at this time.”