Towards the end of the MSV Duisburg general meeting, things got particularly turbulent. However, the reason for this was not the threat of a sporting collapse.
The general meeting of MSV Duisburg lasted over four hours on Wednesday evening, and many of the zebra members entitled to vote were already on their way home when things got really heated again. The proposed amendment to the club’s articles of association caused a stir; § 19.5.
Since 2021, this has read: “A sale of more than 49.99% of the limited partnership shares with voting rights in MSV Duisburg GmbH & Co. KGaA requires the approval of a majority of three quarters of the votes cast at the general meeting, which must be convened in text form with the usual notice period – i.e. one month.”
The decisive addition in the new version of the applicant from the active fan scene, which was represented in large numbers as usual: “This also applies to all measures that change the ratio of voting limited partner shares in MSV Duisburg GmbH & Co. KGaA beyond the ratio specified in the first sentence, in particular capital increases by parties other than the e.V. itself.”
Preetz intervenes
Michael Preetz immediately intervened and reiterated his planned vision for the future. “We’ve been talking all evening about ensuring that it remains possible to inject fresh funds into the company in the future. This motion will extremely restrict the management’s room for maneuver because we would have to go to the general meeting with every possible capital measure. The association is not externally controlled and cannot be under the articles of association.”
Marvin Schmickler, the commercial director responsible for finances, also expressed his concerns directly. “The controlling power lies 100 percent with the e.V. This is not about that or the 50+1 rule, but about strengthening the KGaA with fresh money to ensure the continuation of match operations in order to avoid insolvency.”
Members divided
However, the petitioner was not concerned with the sale of shares in general, but with the concern that those responsible could exploit a “loophole” in the articles of association to make it easier for potential investors to get involved. The debate went on in all directions for almost 45 minutes. Because there was no secret ballot, there was confusion during the counting of the block vote. The meeting even had to be interrupted for verification. The members were divided.
After a long back and forth, the motion was narrowly rejected. The result: of the 357 members entitled to vote, there were 83 no votes, 48 abstentions and 226 yes votes – six too few for the necessary two-thirds majority.
Extensive investments in day-to-day business will therefore remain possible as before. Meeting chair Florian Hermann from fan radio station “ZebraFM” was able to bring an emotional but generally constructive evening of discussion to a close shortly afterwards at around 11 p.m. by President Ingo Wald.