Belenenses SAD ensures club cannot sell shares

Belenenses SAD ensures club cannot sell shares

Belenenses president announced the sale of the 10% of shares that the club holds in SAD.

Another episode of an endless war between the Belenenses Football Club and Belenenses SAD. After the club announced the sale of its 10% of shares in the SAD, the Society is now publicly "alerting" interested parties that this is not possible.

"We warn anyone interested in buying Belenenses SAD shares held by the" Os Belenenses" (CFB) Football Club that they are incurring in a deception, similar to the unwary people approached by skilled men in a suit to buy the Tower of Belém. The law states that the founding club's shares "are only susceptible to judicial seizure or encumbrance in favor of legal persons governed by public law." It also states that "the direct participation of the founding club in the joint stock company may not be less than 10% of the share capital."the SAD said in a statement.

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