Betis’ capital raising in the first round was subscribed by almost 50%

Ramon Alarcon, The CEO of Real Betis sent this Monday that the club’s board of directors is “very satisfied” with Betis’ response to the first phase of the capital increase, which expired yesterday, Sunday, covering a total of 20.5 million euros, 47.78 % of the total issue put up for sale, 42.9 million euros, expected to be covered in the next rounds.

“In the first round, we expected around fifty percent to subscribe and that’s almost what happened. We are happy that almost six hundred new shareholders have joined (specifically 587) and we may be wrong about the Betis Sila .wanted shares (606 were left without them) and we were unable to get them pre-emptive subscription rights in this first phase, although they were signed up and the normal thing was they were the first they had in the last phase of capital subscription, when no rights were needed and Betis issued the subscription directly, because they would meet the requirement of Betis membership. I want to highlight the work done in the first phase already this, which is only intended for shareholders, because that is what the law establishes, and we made an effort from the club by providing a notary for more than six days, at fifteen euros per notarial document, which is less than the usual price, I think this is the first company that does this ‘matchmaker’ work, in an effort to find the buyers and put them in touch with those who transferred their shares…”, explained Ramón Alarcón .

In the first round of subscription of shares (at 365.44 euros each) the president Ángel Haro (who owns 13,179 shares), the vice president José Miguel López Catalán (13,042) and the practice used their 100 % preferential subscription right share or support the current board, among them the former soccer player Joaquín Sánchez (who owns 2,350) or the directors Ozgur Unay (1,683), José María Gallego (1,341) and Carlos González de Castro (855), among others.

Former director Joaquín Caro Ledesma, one of the entity’s largest individual shareholders (9,008 shares) – whose son is the current director – also agreed to the expansion, and those who did not attend were the heirs of former president Hugo Galera – which holds more than 9,000 shares – of Manuel Castaño, who still controls about 3,200, or the former councilors and then the alternative candidates Rafael Salas and Adrián Fernández Romero.

The second phase, which begins on Wednesday, June 12, is open to 1,643 shareholders who have exercised 100% of their pre-emptive subscription rights, that is, who have subscribed to all the shares to which they are entitled in the first round (a number equal to what they already hold) or transferred the right to someone else and executed it. “That’s right, in the second phase, shareholders who were 100% in the first can continue to subscribe shares. Then the third and fourth rounds will come, where the rules of the game will be established for the distribution of the pending capital and from the beginning our idea is that it can be opened to partners to prevent the entry of foreign capital,” details Ramón Alarcón.

The 606 partners who are now left unable to subscribe shares should not have problems subscribing to them in the last round: “We understand that the number of shareholders remaining in the third round will be very small . And they have to make the decision on how to act on the distribution of those who remain subscribed,” explained Alarcón.