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Shareholders General Assembly held
The board's appointment is ratified and all items on the agenda are approved
RCD Espanyol's Shareholders General Assembly was held on Tuesday, and featured an address from the new club president, Alan Pace, as his appointment was ratified.
Speaking to those in attendance, he said that “Being the president of a club with over 100 years of history like RCD Espanyol is a tremendous honour for me. I feel the weight of history, but also excitement about the future we are going to build together."
“Leading this project is a great responsibility. That's why we are going to strive every day. We know the potential of this club, the strength of our fans, and the opportunities that a city like Barcelona offers us. We have plenty of room to grow. A few weeks ago we celebrated the club's 125th anniversary and witnessed its greatness once again.”
The Espanyol president acknowledged that “the road hasn't always been easy, but I also believe that we must demand more of ourselves and show our best selves: optimistic, ambitious, and courageous.”
He also thanked former president Chen Yanseng and the RASTAR group for “all their support throughout this process. What they have done for RCD Espanyol over their years here is very important and we must recognise it.”
“We want to continue fuelling the enthusiasm that we have, and for all Espanyol fans to feel as proud as we are today. Visca l’Espanyol!” concluded Mr. Pace.
Before his speech to shareholders, a report on the club's financial situation was summarised by Mao Ye, the club's CEO. Then, with 99.7068 percent of the share capital present and represented, the 11 items on the agenda were approved with over 99.9 percent of votes in favour. These included the appointment of the new Board of Directors and the new club president, as well as the approval of the annual accounts for the period ending June 30th.
During his address, Mao Ye explained that the return to the top flight has allowed the club to achieve a good level of revenue, although they continue to be hindered by the uneven distribution of television rights and the two years spent in the Segunda División. He also noted that the accounts closed in June show a surplus of just over two million euros, on total revenue of 95 million, after several years of losses.
Among the approved items was the amendment to Article 24 of the club's statutes. It was also ratified that, in addition to Alan Pace, the new Board of Directors will consist of Mao Ye as CEO and First Vice President; Antonio Davila as Vice President; and Rafa Marañón and Stuart Hunt as Directors.