Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Italy
  4. Borsa Italiana
  5. Juventus Football Club S.p.A.
  6. News
  7. Summary
    JUVE   IT0000336518

JUVENTUS FOOTBALL CLUB S.P.A.

(JUVE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Juventus Football Club S p A : The Board of Directors approves the proposed capital increase with pre-emptive rights up to euro 400 million

08/25/2021 | 06:16am EDT

THE BOARD OF DIRECTORS APPROVES THE PROPOSED CAPITAL INCREASE WITH PRE-

EMPTIVE RIGHTS UP TO EURO 400 MILLION

  • The Board of Directors approves the proposed capital increase with pre-emptive rights up to Euro 400 million
  • Extraordinary Shareholders' Meeting called for October 29, 2021
  • Approval of the execution of a contribution for future capital increase (versamento in conto futuro aumento di capitale) by the majority shareholder EXOR N.V.

Turin, August 25, 2021 - Following the Board of Director's meeting of June 30, which defined the guidelines to strengthen the company's equity, and the subsequent signing, with major financial institutions, of the pre- underwriting agreement occurred on July 30, the Board of Directors of Juventus Football Club S.p.A. (the "Company" or "Juventus"), which has met today in Turin, under the chairmanship of Andrea Agnelli, has approved the proposal to increase the share capital against cash contribution up to €400 million, including any share premium, through the issue of new ordinary shares of Juventus, without nominal value and with the same features of those already issued, to be offered with a pre-emptive right to the existing shareholders (the "Capital Increase") and, for this purpose, resolved to call the Shareholders' Meeting for October 29, 2021, in a single call, which will be called to approve, among other things, the draft financial statements for the financial year 2020/21.

The Capital Increase is part of the measures to address the significant economic and financial impacts of the Covid- 19 pandemic and will enable to strengthen the Company's equity and to balance funding resources to support the achievement of the strategic objectives of the Development Plan for the financial years 2019/24 (the "Development Plan" or the "Plan"), which have been confirmed: consolidating the economic and financial balance, maintaining sports competitiveness and increasing the visibility of the Juventus brand.

The majority shareholder EXOR N.V. (which holds 63.8% of Juventus' share capital) has already expressed its support to the transaction and has committed to subscribe to the Capital Increase pro-rata to its current interest. In addition, as already disclosed on July 30, 2021, Goldman Sachs International, J.P. Morgan AG, Mediobanca - Banca di Credito Finanziario S.p.A. and UniCredit Corporate & Investment Banking, which will act as joint global coordinators and joint bookrunners, entered into a pre-underwriting agreement with the Company, undertaking - subject to conditions in line with market practice for similar transactions - to enter into an underwriting agreement for the subscription of any newly-issued shares that remain unsubscribed at the end of the auction period of the offering.

The Extraordinary Shareholders' Meeting is expected to grant the Board of Directors the broadest powers to define the terms and conditions of the transaction, including the issue price and share premium, the definitive amount of the Capital Increase and the number of newly-issued shares to be offered with a pre-emptive right to the shareholders, as well as to determine the timing for carrying out the Capital Increase.

The Capital Increase is expected to be completed by the end of 2021, subject to favourable market conditions, the approval of the Capital Increase by the competent corporate bodies and the issue of the necessary authorisations by the competent authorities.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED

STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE

SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD REQUIRE THE APPROVAL OF LOCAL

AUTHORITIES OR WOULD OTHERWISE BE UNLAWFUL

The Board of Directors, acknowledging the majority shareholder EXOR N.V.'s availability to make a contribution for future capital increase (versamento in conto futuro aumento di capitale), has also resolved to request the payment by the shareholder of an overall amount of Euro 75 million as contribution for future capital increase, in order to strengthen the Company's equity and financial structure pending the execution of the Capital Increase. The contribution - which is expected to be executed in the next few days - will constitute an advance payment for the portion of the Capital Increase pertaining to EXOR N.V. and will remain solely for the benefit of EXOR N.V.

*.*.*

The call notice of the Shareholders' Meeting, the report of the Board of Directors on the Capital Increase pursuant to Art. 125-ter of Legislative Decree No. 58/1998 and any further document will be made available in accordance with the law and regulations at the Company's registered office, on the Company's website (www.juventus.com), as well as at the authorized storage mechanism www.1info.it.

*.*.*

PRESS OFFICE CLAUDIO ALBANESE T. +39 011 6563448 claudio.albanese@juventus.com

INVESTOR RELATIONS STEFANO CERRATO T. +39 011 6563437 stefano.cerrato@juventus.com

*.*.*

NOT INTENDED FOR DISCLOSURE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, BY OR TO PERSONS LOCATED OR RESIDENT IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR IN ANY JURISDICTION WHERE SUCH CONDUCT IS SUBJECT TO LOCAL GOVERNMENT APPROVAL OR IS OTHERWISE PROHIBITED BY LAW.

This press release and the information contained herein do not include or constitute an offer to sell securities or a solicitation of an offer to purchase securities. Any offer to the public will be made in Italy and in the European Economic Area on the basis of a prospectus approved by the competent authorities, in accordance with applicable laws and regulations. No offer to sell securities or solicitation of an offer to purchase securities will be made in the United States, Australia, Canada, Japan, South Africa or in any other country in which such offer or solicitation would be subject to authorization by local authorities or otherwise prohibited by law (the "Other Countries").

This press release, any part of it or its distribution may not form the basis of, nor be relied upon in respect of, any investment agreement or decision. The securities have not been and will not be registered in the United States under the United States Securities Act of 1933, as amended (the "Securities Act"), or under the laws of Other Countries. The securities may not be offered or sold in the United States unless the securities are registered under the Securities Act or pursuant to an exemption from registration under the Securities Act. Juventus does not intend to register any part of the offering or conduct any public offering in the United States.

This press release does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities. This press release has been prepared on the basis that any offer of securities to which it refers in the United Kingdom and any member state of the European Economic Area ("EEA") subject to the Prospectus Regulations (each, a "Relevant Member State") will be made on the basis of a prospectus approved by the relevant authority and published in accordance with the Prospectus Regulations (the "Permitted Public Offer") and/or pursuant to an exemption from the requirement to publish a prospectus for offers of securities set out in the Prospectus Regulations.

Accordingly, any person making or intending to make an offer of securities in a Relevant Member State other than a Permitted Public Offering may do so only where there is no requirement for the Company to publish a prospectus pursuant to Article 1 or Article 3 of the Prospectus Regulations, respectively, or to supplement a prospectus pursuant to Article 23 of the Prospectus Regulations, in connection with such offer.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED

STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE

SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD REQUIRE THE APPROVAL OF LOCAL

AUTHORITIES OR WOULD OTHERWISE BE UNLAWFUL

"Prospectus Regulations" means Regulation (EU) 2017/1129 (that Regulation and any amendments thereto, together with any delegated acts and implementing measures) and Regulation (EU) 2017/1129 as transposed into UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (the "EUWA"). This document does not constitute a prospectus within the meaning of the Prospectus Regulations. A prospectus prepared pursuant to the Prospectus Regulations may be published in the future for the purposes of a public offering made only in Italy and/or the European Economic Area. Investors should not subscribe for any securities referred to herein except on the basis of the information contained in the relevant prospectus.

The joint global coordinators, their affiliates or any of their respective directors, officers or employees disclaim all liability (whether for negligence or otherwise) arising out of, and make no representations or warranties, express or implied, as to the truth, accuracy or completeness of the information contained in this press release or any other information relating to the Company, its subsidiaries or affiliates, or for any loss arising out of or in connection with the use of this press release or its contents. No person other than the Company will be deemed to be a client of the joint global coordinators in connection with the Capital Increase and the joint global coordinators will not be responsible for providing any person with any safeguards or advice in connection with the Capital Increase, the contents of this press release or any transaction, agreement or other matter referred to herein.

*.*.*

This press release and the information contained herein is not intended to be, and in no way constitutes, investment advice. The statements contained herein have not been independently verified. No representation or warranty, express or implied, is made with respect to, and no reliance should be placed on, the impartiality, accuracy, completeness, fairness or reliability of the information contained herein. The Group and its representatives disclaim all liability (whether in negligence or otherwise), arising in any way from such information and/or for any loss arising from the use or non-use of this communication. By accessing these materials, the reader agrees to be bound by the above limitations. This press release contains forward-looking statements and estimates that reflect the current views of the Group's management regarding future events. Forecasts and estimates are generally identified by expressions such as "it is possible," "it should be," "it is expected," "it is expected," "it is estimated," "it is believed," "it is intended," "it is planned," "objective" or by the negative use of these expressions or other variations of these expressions or by the use of comparable terminology. These forecasts and estimates include, but are not limited to, all information other than factual information, including, without limitation, that relating to the Group's future financial position and operating results, strategy, plans, objectives and future developments in the markets in which the Group operates or intends to operate. As a result of these uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking information as a prediction of actual results. The Group's ability to confirm the financial and operating data of a forward-looking nature and achieve the expected results depends on many factors outside of management's control. Actual results may differ materially from (and be more negative than) those projected or implied in the forecast data. Such forecasts and estimates involve risks and uncertainties that could have a material impact on expected results and are based on basic assumptions. The forecasts and estimates made therein are based on information available to the Group as of today. The Group undertakes no obligation to publicly update and revise forecasts and estimates as a result of the availability of new information, future events or otherwise, without prejudice to compliance with applicable laws. All subsequent forecasts and estimates, whether written or oral, attributable to the Group or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED

STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE

SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD REQUIRE THE APPROVAL OF LOCAL

AUTHORITIES OR WOULD OTHERWISE BE UNLAWFUL

Disclaimer

Juventus Football Club S.p.A. published this content on 25 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 August 2021 10:16:04 UTC.


ę Publicnow 2021
All news about JUVENTUS FOOTBALL CLUB S.P.A.
10/24JUVENTUS FOOTBALL CLUB S P A : Dybala returns to rescue Juventus in 1-1 draw at Inter
AQ
10/21JUVENTUS FOOTBALL CLUB S P A : Clash of styles as defensive Juventus visits attacking Inte..
AQ
10/20MANCHESTER UNITED : United wins in chaos; Bayern, Juventus, Chelsea do it easy
AQ
10/20JUVENTUS FOOTBALL CLUB S P A : Kulusevski scores late as perfect Juventus beats Zenit 1-0
AQ
10/14JUVENTUS FOOTBALL CLUB S P A : Harder hands chelsea away win over juve
AQ
10/08JUVENTUS FOOTBALL CLUB S P A : Publication of the lists for the appointment of the Board o..
PU
10/02JUVENTUS FOOTBALL CLUB S P A : Late Locatelli goal sees Juventus beat Torino 1-0 in derby
AQ
10/01ANALYST RECOMMENDATIONS : Acceleron Pharma, General Mills, Southwest Airlines, Home Depot,..
09/30JUVENTUS FOOTBALL CLUB S P A : Madrid hosts legal and soccer drama in Super League fallout
AQ
09/29JUVENTUS FOOTBALL CLUB S P A : beats defending champion Chelsea 1-0 in CL
AQ
More news
Analyst Recommendations on JUVENTUS FOOTBALL CLUB S.P.A.
More recommendations
Financials
Sales 2021 416 M 482 M 482 M
Net income 2021 -202 M -234 M -234 M
Net Debt 2021 420 M 486 M 486 M
P/E ratio 2021 -4,87x
Yield 2021 -
Capitalization 971 M 1 130 M 1 126 M
EV / Sales 2021 3,35x
EV / Sales 2022 2,92x
Nbr of Employees 915
Free-Float 36,2%
Chart JUVENTUS FOOTBALL CLUB S.P.A.
Duration : Period :
Juventus Football Club S.p.A. Technical Analysis Chart | JUVE | IT0000336518 | MarketScreener
Technical analysis trends JUVENTUS FOOTBALL CLUB S.P.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Last Close Price 0,73 €
Average target price 0,70 €
Spread / Average Target -4,11%
EPS Revisions
Managers and Directors
Stefano Cerrato Chief Financial Officer
Andrea Agnelli Chairman
Claudio Leonardi Head-Information Technology & Logistics
Alberto Mignone Head-Administration
Paolo Garimberti Independent Director
Sector and Competitors