The agreement with Novo Banco forced Sporting to adjust upwards the amount paid to Millenium bcp for the repurchase of its VMOC in 2022. The lions communicated this fact to the CMVM this evening, as part of the announcement of the aforementioned commitment with Novo Banco, ” On March 4, 2022, the ‘contract’ for the purchase and sale of VMOC was granted between SCP and Banco Comercial Português (hereinafter Millennium bcp) (…). SCP paid Millennium bcp the price indicated in the contract, subject to the price adjustment, to be determined under the stipulated terms (…) depending on the amount received by Novo Banco, SA in return for the sale of VMOC. In accordance with the calculation formula contained in the contract, an adjustment to the Price of the VMOC acquired by SCP results. to Millennium bcp from 0.168 per VMOC to 0.279 per VMOC”, explains SAD leonina, which had paid around 14 million euros to BCP (per VMOC that originally cost the bank 83.4 million). The price thus increases to around 23.27 million euros, as a result of this new agreement with Novo Banco, that is, it increases by close to 9 million euros.
Related
Following the repurchase of the VMOCs from Novo Banco, Sporting may at any time make a new capital increase from the current 150 million euros to 177 million to accommodate these shares, as happened in the case of Millenium bcp.
“The SCP may, if it wishes, exercise the right to option early maturity of the Values”, refer to the lions who point to the months of December 2025 or 2026 or “between the 1st and 30th of June.” “The exercise of the early maturity option right will determine the delivery to the SCP of Sporting SAD shares corresponding to the nominal value of the Securities, which, under the terms of the Legal Regime of Sports Companies, as they are subscribed by the founding club of the Society, will be shares of category A. As a result of the conversion of the Values, the SCP will be attributed the voting rights of 177,738,620 (one hundred and seventy-seven million, seven hundred and thirty-eight thousand, six hundred and twenty) shares in Sporting SAD, representing of a participation of 87.994% (eighty-seven point nine hundred and ninety-four percent) of the share capital and voting rights in the Company, of which, directly, the voting rights of 152,776,330 (152,776,330) ( one hundred and fifty-two million, seven hundred and seventy-six thousand, three hundred and thirty) shares in Sporting SAD, representing a stake of 75.636% (seventy-five point six hundred and thirty-six percent) and, indirectly, through via the control jointly exercised by Sporting SGPS, the voting rights of 24,962,290 (twenty-four million, nine hundred and sixty-two thousand, two hundred and ninety) Sporting SAD shares, representing a stake of 12.358% (twelve point three hundred and fifty-eight percent)”, details the green and white SAD.
2023-12-27 23:13:00
#Sportings #agreement #Novo #Banco #increases #price #VMOC.. #Millenium #bcp
