Newcastle’s new owner Mike Ashley is set to complete his buy-out of all Newcastle shares after triggering a compulsory purchase of the remaining stock.
St James Holdings Limited, Ashley’s company created to execute the buy-out of Newcastle United PLC, revealed this morning to the London Stock Exchange they had reached agreement to buy almost 95% of shares by yesterday afternoon.
They stated they would now be taking up their option to force the remaining stockholders to sell their shares.
Owner Mike Ashley
It is expected the remaining purchases will be completed by the end of next month – so things certainly appear to be going as smoothly as ever in this takeover â€“ carried out by what we see as experienced and professional businessmen.
Now we need to turn that business excellence into performances on the field and certainly Allardyce and new Deputy Chairman Chris Mort â€“ Ashley’s executive appointed to run the club for him â€“ are doing everything they can to bring new players into the club as soon as possible.
It will be very interesting to see what the squad is like come August 11th â€“ but it is already looking to be a lot stronger than last year â€“ although Sam and Chris know more signings are still necessary. Allardyce has already brought 4 good players into the club for a mere â‚¤1.5M net – Viduka, Barton, Rozehnal and Geremi.
He is now after Marseilles defender Habib Beye for â‚¤2M and also probably Gudjohnsen and Edmilson from Barcelona. Beye is expected to be Sam’s 5th signing if Sam can agree terms with the Senegalese defender today.