Vaasan Sport applies for a change in the share capital at an extraordinary general meeting – the reason is the financial situation | Sport

With the help of the share issue, the company aims to reorganize its old debt burden and lower the general cost level.

Hockey Team Vaasan Sport Oy organizes an extraordinary general meeting, which deals with the board’s proposal to increase the company’s share capital.

The board proposes that the shareholders would authorize it to issue a maximum of 25,000 new shares for a fee, if all shares were subscribed. It would correspond to 60.16 percent of the total number of old and new shares.

According to the proposal, the new shares can be issued in proportion to the holdings of the current shareholders or through a directed share issue, if there is a compelling financial reason for it from the company’s point of view.

The board can also decide on the other conditions of the share issue, and the authorization would be valid until further notice.

The reason for the proposal is the challenging economic situation. The financial challenges that have developed over several years have forced the company to look for ways to significantly strengthen the capital, so that playing in the main ice hockey league would be possible in future seasons as well.

With the help of the share issue, the company aims to reorganize its old debt burden and lower the general cost level, continuing the cost-saving measures started in spring 2024.

Vaasan Sport’s background company Hockey-Team Vaasan Sport Oy made a loss of 531,886 euros in the 2023–2024 fiscal year.

Turnover decreased by 1.8 percent to 6,432,582 euros. Equity remains positive.

Vaasan Sport says the most significant reason for the loss is the strategic decision to strengthen the organization. The general rise in cost levels has also caused difficulties.

According to the meeting invitation, the competitive goals of the league season remain unchanged. With the measures proposed by the board, the company aims to create a new beginning for its operations, which would enable the implementation of the “Omat Pojat Liigaan” strategy and significant development work for the coming years.