Juve has 70 M

The assault on the big Europeans is almost imminent: it is the official capital increase approved by the Board of Directors of Juventus. Through a statement, the Bianconeri have shown an increase of 120 million, not including the 70 million granted by Exor. Now Aguero, Benzema or Sanchez can be true ...

Here, briefly, the salient points:
� The Board of Directors has approved the Development Plan for the period 2011/12-2015/16
� In support of the Plan will be proposed to shareholders a capital increase of � 120 million
� EXOR S.p.A. has committed to subscribe its share of the capital increase (� 72 million, equal to 60%) and also, possibly, a share in excess of their option rights attributable to an amount equal to a maximum of � 9 million corresponding to the share held by LAFICO (7.5% of the share capital)
� EXOR S.p.A. Juventus has granted a credit line of � 70 million with a maturity of December 30, 2011

Hereinafter the full press release:

"The Board of Directors of Juventus Football Club SpA met today in Turin under the chairmanship of Andrea Agnelli, has reviewed and approved the Development Plan for the period 2011/12-2015/16. To support the Plan, the Board of Directors decided to propose a capital increase, paid, and in divisible form, for a total of � 120 million to the Extraordinary Shareholders' Meeting which will be convened for that purpose in the month of October. The capital increase will be realized by issuing new ordinary shares to be offered to shareholders pursuant to art. 2441 of the Civil Code in proportion to the number of shares they held, at a price and under conditions to be determined later, as per market practice, imminence of the tender on the basis of market conditions prevailing at the time of the launch of the operation, which is expected to take place next November. The capital increase aims to: - fund investments to complete the renewal the first team and the revival of the youth sector - strengthen the capital structure of the Company and achieve financial balance.

Exor, which controls 60% stake in Juventus, has committed to subscribe its share, amounting to � 72 million, and has stated its willingness to sign also, possibly, a share in excess of the stock options on its own attributable, to a maximum amount of � 9 million, corresponding to the share held by LAFICO (7.5% of the share capital); it is noted that this fee is subject to freezing measures under Council Decision 2011/137/PESC European Union of 28 February 2011 and the Regulation (EU) 204/2011 of the European Union Council of 2 March 2011.

Juventus in the coming months will assess the possibility of forming a guarantee consortium aimed at ensuring the eventual signing of the capital, for any portion of the offer remained unsold at the end, up to a maximum of � 39 million (equal to 32.5%). The Company has identified UniCredit Corporate & Investment Banking, for the role of coordinator of the transaction and, if thought Juventus require the creation of an underwriting syndicate, the same Corporate & Investment Banking UniCredit, has expressed its willingness to organize such a consortium. The transaction is expected to start tentatively during the month of November, after obtaining the approval of the authorization by Consob to publish the prospectus for the offering and listing of shares deriving from the capital.

The Board of Directors also approved the proposal for a credit line of � 70 million granted by the parent Exor that Juventus will be used for cash flexibility from 1 July 2011 to December 30, 2011, date by which the conclusion of the transaction is expected to increase the capital and, therefore, the extinction of the credit line. In particular, the contract provides for compensation of any use of the credit line based on the Euribor 1 month with the application of a market spread. The operation is part of the ordinary exercise of operational Juventus and was completed on terms equivalent to those of the market, so although this transaction with a related party of "greater importance", is not returned within the scope of Regulations for transactions with related parties (pursuant to Consob n.17221/2010, as subsequently supplemented and amended) and related procedures adopted by Juventus. The report of the Board of Directors on proposed capital increase, containing proposals to the extraordinary, will be made available to the public at the registered office, the Italian Stock Exchange and on the Company's website in terms of law. "