http://www.theage.com.au/articles/2004/07/...l?oneclick=true
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needs registryOriginally posted by model_mom@Jul 2nd, 2004 - 4:13 am
http://www.theage.com.au/articles/2004/07/...l?oneclick=true
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Versace’s shareholders’ meeting here Monday to approve year-end results that included a net loss of $32.6 million marked two more pivotal moments in the history of the fashion house: the debut of Allegra Versace Beck as its major shareholder and the repayment of its $123 million bond.
But Beck’s arrival offered a slight twist — while her mother Donatella and her uncle Santo voted to sign off on the numbers, the 18-year-old Beck abstained. But Beck’s abstention meant her vote did not register and as a result the accounts still were approved, since Donatella Versace owns 30 percent of the firm and Santo Versace 20 percent.
Also a first, Beck took part in the shareholders’ meeting on Monday. Beck took control of her 50 percent stake in the company, inherited from her late uncle Gianni Versace, upon her 18th birthday on June 30.
While Versace officials have said Beck will have little day-to-day involvement in the company, instead preferring to focus on her upcoming university studies in the U.S., her abstention on Monday indicates she is taking seriously her new responsibilities as Versace’s largest single shareholder.
“It is her right to abstain from the voting,” said Daniele Ballestrazzi, Versace’s interim chief executive officer, in a phone interview. “She needs time to understand the figures.”
Beck has appointed Michele Carpinelli, a lawyer with Studio Chiomenti, as her legal adviser. Carpinelli also was present at the shareholders’ meeting. “Carpinelli was nominated on June 30. He, too, needs time to familiarize himself with the company and the figures,” said a Versace spokesman.
A Milan-based analyst said Beck’s abstention can be interpreted in two different ways: “On the one hand, it could be seen as a way to distance herself from her mother and her uncle; on the other, it shows that she wants to have a hands-on, full grasp of the company’s structure and it is a signal that Beck is ready to decide with her own head.”
Another analyst agreed that Beck needed more time to analyze the balance sheets. “This proves that she is very cautious,” noting, however, that the abstention also “allows her to eventually veto the balance sheet, if she were to be in disaccord with any detail listed on the sheet.”
Originally posted by CelineChic@Jun 30 2004, 09:19 PM
She looks as though she has eating disorder
look at her shoulders
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Originally posted by oanadobre@Jul 13 2004, 08:44 AM
Allegra seems one smart kid!
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Lena said:lets be honest, Donatella & Santo simply destroyed the Versace label, lets hope that Allegra will manage better than her 'un-stylish' mom
Acid said:man, can you imagine having donatella as a mum
Casualuxury said:I understand that is you opinion Lena, but ur a friggin' snob!