Pardubice: New structure in the racecourse

Pardubice: General Meeting supports the Town
(19 May, from Paddock Revue Czech language site)

An extraordinary general meeting of Dostihovy spolek in Pardubice has unanimously approved an increase in the capital stock in favour of one shareholder, precluding the first option of all other shareholders. In this way the Town of Pardubice has gained a majority shareholding in the company. On account of the financial problems of Dostihovy spolek, this procedure was also approved by the second largest shareholder (over 30%), Czech-born Swiss medical doctor Martin Vokal. The extraordinary general meeting removed the present vice-chairman Petr Pucandl from the board and voted chief executive officer Jiri Kunat to be a board member. He immediately became vice-chairman of the board. The extraordinary general meeting was in reaction to the financial problems of Dostihovy spolek and marks the beginning of an attempt to revive the financial management of the company.