July 21 – OL Groupe, owner of French Ligue 1 club Olympique Lyonnais, has issued €800,000 in new shares to members of its men’s and women’s playing squads as part payment for wages.
The shares cover the balance of their remuneration from February to June and was agreed to help the club manage its cash position through the covid crisis that saw Ligue 1 suspended early in 2020 preventing the club’s push for a UEFA club competition slot in 2021 and the consequent loss in potential revenue.
In a statement OL said: “The Group warmly thanks the players and staff who have taken part in these transactions, demonstrating in-so doing their commitment to the sporting and economic future of Olympique Lyonnais and enabling the Group to improve its cash position and strengthen its shareholders’ equity.”
OL said the transaction was carried out via three capital increases that saw new shares with “only a small circle of investors, comprised of professional players and some of the staff and management of the men’s and women’s teams subscribed to these capital increases.”
The issue price of the shares was set at the average of the share prices of the 10 trading days preceding the date on which the subscription price was set, i.e. €2.31 on 12 May, €2.25 on 11 June and €2.22 on 12 July.
The Transaction saw a total of 363,483 new shares issued, with a par value of €1.52 per share, for
a total subscription amount of €827,085.57, representing 0.62% of the posttransaction share capital.
OL Groupe’s share capital now totals €89,026,611.28, comprising 58,570,139 shares.
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