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Monday, July 22, 2024

Omonia: What was said at the regular General Meeting – The debt fell to €7.4m

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Today's meeting is over

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<p><strong>The Ordinary General Meeting of the Omonia Sports Association has been concluded.</strong></p>
<p>The President of ASOL Marios Argyridis gave an extensive account of the activities of the association.</p>
<p>“Beginning his presentation, he welcomed the members at the Ordinary General Assembly of the Association which this year closed 76 years of glorious history. In its 76 years of existence, the Association won 107 titles.</p>
<p>Immediately after taking office, the Board undertook the completion and approval of the new agreement with President Stavros Papastavrou on July 12, 2023, an agreement that aims to keep the Football team competitive and succeed in winning titles and meeting expectations of all in OMONIA. It also aims to upgrade the Ilias Pullos training center and build a privately owned field, for which President Stavros Papastavrou will soon inform the world of OMONIA.</p>
<p>The President congratulated Stavros Papastavrou on the recent announcement and launch of the OMONIA TV station, from where we will see everything related to OMONIA and men's football, but also in all the departments of our Association.</p>
<p >At the same time, he informed the Assembly, that the provision of the agreement to grant 20% of the company's shares to the Union without any consideration has been completed since last November and the Union owns 1,300,000 shares at €1.00 out of the 6,500,000 shares at €1.00 issued by OMONIA FOOTBALL LTD.</p>
<p>Regarding the Accounts presented, he mentioned some data mainly regarding the servicing of the existing debt which on 12/31/2023 was €10.8m and decreased by €1.3m from 12/31/22 which was €12.1m. if from these amounts we subtract the amount gifted by the tax department on the condition that the installments for the next 12 years will be paid on time. Then the total actual debt is €7.8m on 12/31/2023 compared to €8.9 on 12/31/2022. The debt attributable to repayment by the Union was at the end of 2023 €2.7m while on 31 /12/22 was €3.5m. <strong>According to the unaudited accounts on 31/5/2024, the Association's debt is €10.4m, if we subtract €3.0m again, then the debt is €7.4m, a very serious reduction in debt compared to with the beginning of May 2018 which was €18.0m.</strong></p>
<p>There was then an extensive reference to the sections of the association.</p>
<p><strong>For the Women's Football section< /strong>, it was reported that despite the huge efforts and changes that were made, she still did not manage to star, but this year there will be 4 Cypriot female soccer players in the squad who come from the champion K18 team of the OMONIA academies and thus the goal that exists to highlight female athletes from the academies will Happen. At the same time, some programs have been included that will reduce the differences and will be able to bring better results in the future.</p>
<p><strong>For the Men's Volleyball</strong>section, the men's team did their best in the domestic competitions, winning the Super Cup, the Championship and the Cup.</p>
<p>They competed in Europe, missing the qualification in the details and did not follow up in last year's excellent course when it reached the 8th of the CEV Challenge Cup.</p>
<p>3/3 of the domestic competitions show for yet another year the absolute dominance of Cypriot Football.</p>
<p>During the report, a special mention was made of the football academies, setting a long-term plan where it aims to produce young sportsmen and women, who in the long run will form the core of the association's teams. Specifically, at the moment the football academies number 140 girls and 38 boys.</p>
<p><strong>For Indoor Football</strong>, this year unfortunately for the team did not develop as expected.</p>
<p> < p>Various suggestions have been proposed to the KOP many times for the good of the sport, since every year Futsal is shrinking with the tendency to lead to the disappearance of the sport. Unfortunately, it appears that only OMONIA has these concerns.</p>
<p>In the new season it seems that only 4 teams will participate in the league. The team will await the developments and the Association will weigh the facts, since it is a shame to invest in a sport that does not receive the interest and attention it deserves.</p>
<p><strong>For the Basketball department, </strong> will intensify the effort to come back this year, with the cooperation of some friends who came close, to help all together and start a team with both young and experienced Cypriot basketball players, in a team that will have a future with a five-year plan to return to the A category.</p>
<p>After six years of existence <strong>the section of runners of OMONIA</strong> now has 140 members (last year 100). The presence of the department in races was one of the most dynamic and it is now an important fact that the green presence in the road movement of Cyprus.</p>
<p>Achievements were also presented by the other departments of the association,<strong>with the Cycling department< /strong> in the competition year 2023 in the Cyprus Championship in the Men's category to have managed to win the 1st and 2nd place with Alexandros Matsagos and Konstantinos Pavlidis. In the Women's category the 2nd place with Dimitra Koukoumas and in the junior category she also won the 1st and 2nd place with Dimitra Koukoumas and Eleni Koukoumas.</p>
<p><strong>The newly established department</strong><strong >Women's Beach</strong><strong></strong><strong>Handball</strong> last year was crowned Champion of Cyprus.</p>
<p>Closing his lengthy presentation, the President thanked the Heads of the departments , all the committees of the departments for the help and the work they produced, but also all his colleagues on the Board of Directors for their help, so that the union can achieve its goals to date”.</p>
<div class=Source: www.kathimerini.com.cy

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