The general meeting of shareholders of Sporting SAD, called for October 7, will decide on the allocation of a variable remuneration portion to the chairman of the board of directors, Frederico Varandas, in the amount of 180,000 euros. The remaining executive directors, if approved, will receive 142,500 euros, according to one of the proposals accompanying the call for the General Meeting, sent this Friday to the Securities Market Commission (CMVM).
The values were calculated based on the SAD’s remuneration policy, as different objectives were achieved. Among the sporting objectives achieved during the 2023/2024 financial year is winning the Primeira Liga and entering the group stage of the Champions League. and reaching the round of 16 of the Europa League, the document states. But the report proposing the bonuses also points out the financial objectives: the repurchase of bank debt and the profits achieved at the end of the fiscal year.
On September 10, Sporting SAD presented a positive net result for the third consecutive year. In the 2023/2024 season, profits stood at 12.1 million euros, still a 52% drop compared to the 25 million in the previous season. The report and accounts also recall the repurchase of convertible securities (VMOC) from Novo Banco and BCP, by Sporting Clube de Portugal, and also the debt restructuring with Sagasta.
Also to be appreciated by the shareholders of SAD leonina, there will be one or more bond issues, with a maximum amount of 100 million, having a maturity of no more than five years and a nominal unit value of five euros. The statement states that the operations may be carried out through one or more public subscription offers or public exchange offersthe latter based on previous bond loans maturing in 2024 and 2027.
Source: www.jornaldenegocios.pt
