Cheraw Chronicle

Complete News World

KV Mechelen reaches agreement on €5 million capital increase |  Jupiler Pro League

KV Mechelen reaches agreement on €5 million capital increase | Jupiler Pro League

Under the new shareholder structure, the stake of major shareholder Dieter Benincks, former CEO of the defunct fashion group FNG, will drop from about 71 percent to 49 percent.

Dutchman Philipp van Esche, CEO of Vescom and president of sister club Helmond Sport, offers new money and receives 20 percent of the shares in return. Major Shareholder Penninckx will not be taking on a mandate at this time.

The club’s board of directors will report to a new board of trustees. “Three of those are fan representatives, including club icon Mark Uytterhoeven,” says KV Mechelen.

“The fan share is now 8%, and with 3 out of the 11 members of the Supervisory Board, the club cements unique fan participation in Belgium. Fans also have a list of veto power that has been further expanded. For example, they can veto a new shareholder in the future “.

Thanks to a capital injection now approved, KV Mechelen can repay part of its debt in the short term. “First of all, supporters hook up,” it seems. “Lots of fans have converted their bonds into a loan, we thank them for their confidence in the club.”

“With this capital increase, the club is strengthening its foundations. New investors and the strengthening of the financial structure, where good management and additional controls remain central, provide a new step in the further expansion of the club,” concluded KV Mechelen.

See also  Michelle Wittes looked at Pogacar with wide eyes: “It reminds me of the greatest.” | Journey