News Article

Bico: May 11 Proceedings

Industry- & Retail Organizations

VERL, Germany (May 12) – From a reliable source, Bike Europe learned that the BICO special member assembly on Sunday May 11 was attended by 300 voting members (on a total of 565), either in person or as a mandatory vote. The proposal to raise the capital with € 5000 per member was accepted by […]

VERL, Germany (May 12) – From a reliable source, Bike Europe learned that the BICO special member assembly on Sunday May 11 was attended by 300 voting members (on a total of 565), either in person or as a mandatory vote. The proposal to raise the capital with € 5000 per member was accepted by a 2/3 majority. Members who can’t or won’t pay the additional € 5000 may end their membership per 31-12, thereby loosing their initial capital of € 5000. The gathering equally agreed with the proposal to keep half of the bonus inhouse (against a 5% interest) and pay the other half in kind.
Interestingly, Bico is said not to have revealed a balance sheet, in which the cause of the troubles must be sought. At the next annual member meeting in September, the balance sheet is due.(OB)

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