Newcastle United have been delisted from the Stock Exchange following businessman Mike Ashley’s Â£133M take-over of the club.
This follows the announcement by St James Holdings Limited on 15 June 2007 that its offer for all of the issued and to be issued share capital of the Company had been declared unconditional in all respects.
New Newcastle United Owner Mike Ashley
A statement to the Stock Exchange read:
â€œThe directors of Newcastle United PLC wish to announce that, following an application to the UK Listing Authority, the listing of the company’s ordinary shares of 5p each on the Official List has been canceled and the shares have ceased trading on the London Stock Exchange, in each case with effect from 8am this (Wednesday) morning.â€
News of the delisting was really a formality after Mr Ashley’s stake in the club passed the 90% level. Last week, Ashley announced that he had amassed a 94.5% stake in the club, and also indicated he would extend his share purchase offer to remaining shareholders until August.
The takeover â€“ when compared to other takeovers that have recently been executed – has been very professionally carried out. Now that Mike Ashley officially owns the club we hope that any transfer funds manager Sam Allardyce requests – to bring in the additional three defenders he needs – is quickly given to him.
When you take a look at the squad on duty last night at Hartlepool â€“ and add in the good players that didn’t even play â€“ like Viduka, Taylor, Geremi and Emre – the squad is starting to look quite strong. With the addition of 3 good defenders the squad will become very strong and bigger in number than last year – with some of the youngsters starting to challenge to become part of the first team squad.
But it is still very important that Sam complete his rebuilding as soon as possible – so we are fully prepared for the first game at Bolton on 11th August – a short 3 weeks come Saturday.
Comments always welcome.