Good news for KV Mechelen: Board of Directors agrees to capital increase, Dieter Penninckx leaves the club


KV Mechelen had good news for its fans on Wednesday, just before the kick-off of the cup match at KV Kortrijk. Malinwa’s Board of Directors reached an agreement in principle for a capital increase. Eddy De Reys and the Dutchman Philippe van Esch provide the extra investments. (Co-)owner Dieter Penninckx disappears from the share structure.

Michiel VerheirstraetenBron: BELGIAN

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The principles of the agreement will be presented on Thursday and further discussed with shareholders at the club’s extraordinary general meeting. The details will be worked out in the coming weeks and official approval by all directors will still have to be obtained.

CEO Frank Lagast was satisfied with the agreement in principle. “I would like to thank everyone who contributed to this agreement,” he said. “Thanks to Dieter’s courageous decision, we can continue to build our club. Thanks to Eddy and Philippe we can do that with extra resources. Not unimportant: this is how we preserve the DNA of our club. Eddy is an entrepreneur from the Mechelen region and has been involved with KV Mechelen since the rescue in 2002/2003. Philippe and Eddy are experienced entrepreneurs, they both know KV Mechelen and carry out our mission and vision. Once the agreement has been fully approved, we can provide more information.”

Dieter Penninckx leaves the club. “In the interests of the club, I want to take a step back as a shareholder,” he said. “The story is complete: five years ago I anonymously joined the club as a supporter and as a supporter I will soon leave. I will always be an ardent supporter. Once a cockerel, always a cockerel.”


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