More Ownership Share Activity at BFC

[SBRed48]

Thank you to BBS Accountants Archerfield and Exile on this.

Another Barnsley FC Share Issue has been notified to Companies House of £1.18 million.

Once again existing Shareholders can take up their rights to buy these shares in proportion to their existing shareholdings but if they do not take up their share rights the shares can be bought up by other Shareholders.

Parekh currently owns 47.97% of the club and so, if such as Lee and Conway/Hung again do not take up their share and Parekh buys them, it could push Parekh over the 50% number to gain sole control. He already has effective control with the support of the Crynes and the JAQ/ Edmonds Hedge Fund but this would mean sole control.

It will not be known if he has acquired over 50% until actual share purchases are announced on the Hong Kong Registry shortly.

It is not known whether the key reason for this new share issue is a manoeuvre by Parekh to gain 50+% of the shares or whether a further £1.18 million is needed to keep the club afloat financially this season (until January sales ?).