(Alliance News) - Juventus Football Club Spa announced Thursday that the shareholders' meeting approved proposals to increase share capital and regroup shares in the ratio of one for every 10 shares held.

In detail, the shareholders' meeting resolved to reduce the share capital to EUR50,000 from EUR23.4 million and to approve the proposed share capital increase, against payment, to be carried out by December 31, 2024, for a maximum total amount of EUR200 million, including share premium, through the issuance of new ordinary shares with no par value.

The meeting then approved the proposed reverse stock split at a ratio of one for every 10 of the 2.53 billion ordinary shares with no par value expressed as 252.7 million newly issued Juventus ordinary shares with the same characteristics as the ordinary shares issued. The transaction thus provides for the withdrawal and cancellation of the issued Juventus ordinary shares and the allocation, for every ten ordinary shares withdrawn and cancelled, of one newly issued Juventus ordinary share.

The meeting then confirmed Maria Luisa Mosconi and Roberto Petrignani as standing auditors and appointed Stefania Bettoni and Guido Giovando as alternate auditors.

Juventus' stock closed Thursday down 0.1 percent at EUR0.25 per share.

By Chiara Bruschi, Alliance News reporter

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