Dostihový spolek does not raise its capital

15 December 2011.   The General Meeting of Dostihový spolek, organisers of racing at Pardubice, finished without any substantial outcome. The Town of Pardubice, as the majority shareholder, was not able to push through its proposal to raise the capital of the Association which, as it explained, would be necessary in order to implement a rescue plan to lead the organisers out of its current 20 million crowns [approx. EUR 800 000] of indebtedness. Instead of the necesssary two-thirds majority, only 57% of the shareholders voted for the proposal, and it is therefore unclear in which direction steps will now be taken.

(translated from the Czech language Paddock Revue website)