Following a notorial agreement of March 18, the assembly decided to increase the share capital from 160.000,00 € to 35 0.000,00 €, therefore by 190.000,00 € thanks to a passage to a share capital of the same amount to withdraw from the “capital reserve against a future increment in the share capital” which was already included in the nett estates of the company and thanks to the issuing of new shares accounting to 190.000,00 € which were given for free to the current partners coherently with their participation in the company.
The formal increase reported in the subject, despite not resulting in the increase of the company’s assets, there still are some consequences: there is the increase of the guarantee indirectly offered to third parties by the capital stock. This is the fundamental objective set by the partners.
Additionally, the decision of setting aside as reserve part of the profits cumulated in the previous financial year and use it for the increase of the share capital rather than distribute them among the partners is coherent with the partners’ intention of continuing capitalizing the company in order to improve the company's rating which is an important marker of the company’s reliability also used to evaluate the solvency level.
For CESAF this is the second increase of the share capital in about two years.