If he paid less than £25 everyone who bought in 2003 would be upset

If he paid more than £25 then some of the small shareholders potentially would vote against the takeover rule to make him make an offer for their shares too.

The £25 simply increases the “value” of the club by the £4.8m he is paying for the shares. If you bought 4 shares for £100 they are still “valued” at £100 but as they aren’t traded then the “value” in the future if you want to sell is however much you can flog them for!

All that is happening is the proportion of the club that you own is reducing by just under a fifth (as it is around 20% of new shares)

Posted By: Ruttles, Sep 8, 14:36:21