Mike Ashley has now reached 77% of the shares of Newcastle United PLC and now has to get only 13% more to take total control of the club.
He increased his share of the club further yesterday and already has the 75% needed to take Newcastle United private and off the stock market.
Mike Ashley
Once Ashley reaches 90% ownership all other shares must be sold to him so he owns the full 100%.
A statement on the club’s web site from Ashley’s investment company St James Holdings Limited read:
“SJHL now intends to procure the making of an application by Newcastle United to the London Stock Exchange for the cancellation of trading of Newcastle United shares and to the UKLA [UK Listing Association] for the cancellation of Newcastle’s listing.”
This is expected to take effect on July 18.
This comes after Mike Ashley met with new manager Sam Allardyce last week and gave him a vote of confidence on what he is currently attempting to accomplish in the transfer market – and it appears that Sam will be left alone to get on with his important rebuilding job at Newcastle. An insider also indicated that a senior appointment at the club would soon be made to look over the total workings of the club from top to bottom.
We ran a story yesterday on an assessment of the insider’s comments and that Ashley was happy with how Sam is going about his new job at Newcastle.
The major focus this week for Big Sam will be signing defenders – and there are rumors he may be signing David Rosehnal early in the week. We have idea if this is true or made up – but we do believe that Rosehnal, a 6’3″ Czech from PSG – would be a good buy for Newcastle.
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9 responses so far ↓
1 steve // Jun 18, 2007 at 7:35 AM
lads it’s spelt rozenhal.
i wonder now that ashley has operational control of the club will he release funds to allardyce. while it’s admirable, and completely unlike nufc, to take time to perform a thorough review of the club time is ticking and ideally we would want to have all of our signings in place by the start of pre-season training.
2 valle // Jun 18, 2007 at 9:53 AM
Actually, its ROZEHNAL, but u got close =)
3 david veitch // Jun 18, 2007 at 9:54 AM
Steve
lf l was investing money in a project, then the whole set up would logically need to be reviewed, so the dead wood could be pruned.
Once this is completed thoroughly expect Ashley to produce his planning forcasts, both short and long term.
4 Ed Harrison // Jun 18, 2007 at 10:14 AM
It seems to be spelt both ways – but will spell if with z from now on..
5 nightfall // Jun 18, 2007 at 10:34 AM
or we could just wait how it will be spelt on his newcastle shirt:)
6 Ed Harrison // Jun 18, 2007 at 12:25 PM
Yes – you are so sensible nightfall!
7 Ed Harrison // Jun 18, 2007 at 12:35 PM
David – yes good point – think that’s what he will do. At last someone who looks really organized and all business.
8 Arthur Prince // Jun 18, 2007 at 6:15 PM
Just hope we dont lose out on the best players whilst waiting for this all to happen . The Pre season get together starts early July so need most of the squad in plce by the or soon after . The signings seem to be taking an age and the defencive players which are a must ASAP hopefully will come in v soon or the back 4 will be Solano Taylor Ramage and Huntington !which aint bad but really does need to be improved upon .
9 Arthur Prince // Jun 18, 2007 at 6:16 PM
sorry, spelt” defensive “wrong !! My typing !!
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