Ashley Moving Forward – Has 93% Ownership In Newcastle

English Billionaire Mike Ashley now has over 93% ownership in Newcastle United PLC – which means he is almost able to compulsorily purchase the remaining shares and so de-list Newcastle from the Stock Exchange.

In a statement today to the London Stock Exchange, St James’ Holding Limited (SJHL – Ashley’s company created to handle the takeover) revealed they owned, controlled or had received valid acceptances in respect to 93.19% of the existing issued share capital of the club.


Newcastle Owner Mike Ashley

This is the statement released to the Stock Exchange this morning:

“As announced on 15 June 2007, SJHL 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 Authority) for the cancellation of Newcastle United’s listing, both of which are expected to take effect on or around 18 July 2007,”

“Furthermore, if SJHL receives valid acceptances of the offer in respect of, or otherwise acquires, 90% or more of the Newcastle United Shares to which the offer relates (such level will be reached once SJHL owns, controls or has received valid acceptances in respect of Newcastle United Shares representing approximately 94.16% of the existing issued share capital of Newcastle United), SJHL will seek to acquire compulsorily the Newcastle United Shares for which it has not received valid acceptances of the offer or otherwise acquired.”

As a result of this, SJHL have extended their offer for all of the issued and to be issued share capital of Newcastle until further notice.

Things are now moving very quickly on the business side of things at Newcastle and Ashley has already had four Directors resign from the club. He has appointed Chris Mort as Vice-Chairman of the Board and Steve Hayward as non-executive Director on the Board. Manager Sam Allardyce now reports to Mort – and although they have met briefly they have yet to sit down and conduct extended discussions on what’s needed to be done before the transfer window closes at the end of August.

It looks also like Chairman Freddy Shepherd has been asked to stay on only to offer some continuity at the club. It is expected to last for a few months until at least the transfer window expires. Chris Mort is now in control of the daily running of the club and has started a total strategic review of the working procedures at Newcastle.

The push is now on to help Allardyce bring new players to the club as soon as possible. Certainly one aspect of transfers that Chris Mort will ban from now on are the release clauses – that are causing Allardyce so much discomfort with his striking stars – Michael Owen and Oba Martins.

Things are now looking much better from the business side of things – now the playing side needs to be sorted out – and quickly.

12 comments so far

  • Ben

    Jun 29, 2007 at 10:02 AM

    Comment #1

    things are looking good…well apart from owen and oba’s conracts…hopefully they’ll see sense and see that major changes are happening and if by say mid august the playing squad is looking better hoefully they’ll decide to give another season at least…then maybe even in january … mort and allardyce could even persuade them to sign new contracts….everyone seems to want owen out just because he isnt talking to the press!!! i wouldnt theyd big everything up and come out with anothwer story tht isnt true….we have to remember that owen is one of the if not the best striker england has to offer and one of the best ever to have played in the premiership…..that and obafemi martins, one of the best prospects for newcastles future….i have a feeling…they’ll both be at newcastle next season….on the 4mil + smith for owen story in the sun….sam allardyce is not a fool….no-one not even sounesss would swap owen for smith and 4 mil…..i think if anyone wants owen its gunna have to be for the 9 mil clause….on edmilson and gudjonson…both would be excellent additions to the squad….they would both offer experience and both have 3/4 years minimum left in them to compete at the top of the premiership…[were newcastle deserve and hopefully will be come the end of next season]

  • Toppsy Krett

    Jun 29, 2007 at 10:10 AM

    Comment #2

    Things are looking good indeed…however, I’m still concerned that the Rozenhal transfer is yet to be confirmed…cannot understand this one?

  • david veitch

    Jun 29, 2007 at 10:27 AM

    Comment #3

    It sounds like Mr Ashley has released the purse strings now he is able to de-
    list the company.
    If Sam can get both players he is after from Barcelona he will have shaken a lot of the top premiership managers with his determined and ultra positive purpose.
    Also the young boy Martins if he is sensible enough can find time to properly settle in at Newcastle and learn from his more experienced colleagues.
    Even if he goes and we get Gudjohnson the club have still made a profit, and can invest this were needed to make us a more feared team next season.

  • Ben

    Jun 29, 2007 at 10:45 AM

    Comment #4

    Toppsy Krett- yes the rozehnal situation is a bit worrying…i just hope he hasnt talked to sevilla and changed his mind…hopefully the transfer will go through and the geremi, and edmilson and gudjonson deals go through by the middle of july then certainly the defensive problems will be well on the way to bieng sorted out.

  • StevieA

    Jun 29, 2007 at 1:51 PM

    Comment #5

    I bet we unveil 3 or 4 players at once. This is the reason for the delay.

    It’s what I would do personally as it shows our intent. Even better if we have Martins and Owen pledge there future to the club. Even one would be a big boost for us. It’s all about giving the other players and the fans confidence to get behind the team and get us back where we belong together.

    I really feel we are going places now.

  • Andreas

    Jun 29, 2007 at 3:06 PM

    Comment #6

    I agree with StevieA, we’re just waiting to present more players than just Rozehnal at once. Both SA and Rozehnal himself speaks ( as if his is indeed already signed, albeit not officially unveiled.

  • Ed Harrison

    Jun 29, 2007 at 3:11 PM

    Comment #7

    Bern – i just don’t believe the Sun story – they have no credibility.

  • Ed Harrison

    Jun 29, 2007 at 3:15 PM

    Comment #8

    That sounds reasonable – I just put up a piece on Rozehnal – and he talkes like he’s already a Newcatsle player – maybe the announcement will include Rozehnal, Edmilson and Geremi – 3 very good defenders.
    Then we won’t be able to complain Sam hasn’t made enough defensive signings.
    Think Sam is an absolute work-horse – and very good for Newcastle – he’s a mover and a shaker.

  • Ed Harrison

    Jun 29, 2007 at 6:07 PM

    Comment #9

    We seem to be operating on all cylinders now – both on the business side and playing side …. starting to look good for us I think. Who comes in after Rozehnal is anyone’s guess – Geremi?

  • Ben

    Jun 29, 2007 at 6:21 PM

    Comment #10

    i think there is a real chance tht shorey could be on his way…not sure just have a feeling…now i think that owe will go… and smith and gudjonson will come to uss so possible squad.

    GK – Shay Given, Steve Harper, Tim Krul [maybe sent out on loan]

    DF – Carr, Ramage, Taylor, Edmilson, Geremi, Rozehnal, Huntington,Babayaro ??shorey??

    MF – Milner, dyer, Duff, N’zogbia, Barton, Butt, Pattison, Solano.

    ST – Viduka, Smith/Owen , Carrol, Gudjonson, Ameobi, ??martins?? luque

    What you think of that??

  • StevieA

    Jun 29, 2007 at 11:01 PM

    Comment #11

    Ben – Not bad at all if we get all the players. All that I would add is another centre back in the mould of Taylor and Rozenhal and a winger who can play with both feet to cover the right and left wing. Dyer can play there if we need him too but he doesn’t play his best football on the wing.

    The squad looks so much better but I am not sure we will get Shorey. I think Sam might go for a Sagna type as Reading are holding out for big money for Shorey. It would take £6 million at least to tempt them I think.

    Ed- I think Gudjohnsen is next. 😀

  • Ben

    Jun 30, 2007 at 11:02 AM

    Comment #12

    StevieA – good call yes agreed about dyer… now we have the money ….. we could get maybe Shaun Wright-Phillips …. even if he could not play left …. u could put SWP in at right wing and move milner over to the left??? also think gudjonson is on the way!!


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