The Esk
Player Valuation: £70m
Lots of stuff floating around in the media, much of which is frankly inaccurate. So I thought I'd try and clear up a few things.
Prior to Mr Moshiri acquiring his shares, the Board owned 68% of the club as follows:
Bill Kenwright 9,044 shares
Robert Earl 8,146 shares
Jon Wooods 6,622 shares
Total: 23,812 shares (68%)
Mr Moshiri arrives and acquires 49.9% of the shares, 17,465
The Board changes, Robert Earl steps down and sells his 8,146 shares to Mr Moshiri. In order to make up the remaining shares I'm going to assume that Bill and Jon reduce their shares on a pro rata basis. This being the case the distribution of shares would be as follows:
Mr Moshiri 17,465 shares (49.9%)
Bill Kenwright 3,662 shares (10.5%)
Jon Woods 2,685 shares (7.7%)
Total 23,812 (68%)
Now the 49.9% question. I have not had a chance to look myself, but someone trusted confirmed that at this stage going above 50% might cause issues with Prudential Trustees . Therefore as there is agreement on future investment and share sales this current arrangement is entirely satisfactory. I would expect investment , new shares issued and further sales of shares to occur towards the end of the season.
I hope this clarifies the position. I've made a couple of assumptions, but they're reasonable and based on experience of what's happened elsewhere.
* all subject to ratification by PL of course.
Prior to Mr Moshiri acquiring his shares, the Board owned 68% of the club as follows:
Bill Kenwright 9,044 shares
Robert Earl 8,146 shares
Jon Wooods 6,622 shares
Total: 23,812 shares (68%)
Mr Moshiri arrives and acquires 49.9% of the shares, 17,465
The Board changes, Robert Earl steps down and sells his 8,146 shares to Mr Moshiri. In order to make up the remaining shares I'm going to assume that Bill and Jon reduce their shares on a pro rata basis. This being the case the distribution of shares would be as follows:
Mr Moshiri 17,465 shares (49.9%)
Bill Kenwright 3,662 shares (10.5%)
Jon Woods 2,685 shares (7.7%)
Total 23,812 (68%)
Now the 49.9% question. I have not had a chance to look myself, but someone trusted confirmed that at this stage going above 50% might cause issues with Prudential Trustees . Therefore as there is agreement on future investment and share sales this current arrangement is entirely satisfactory. I would expect investment , new shares issued and further sales of shares to occur towards the end of the season.
I hope this clarifies the position. I've made a couple of assumptions, but they're reasonable and based on experience of what's happened elsewhere.
* all subject to ratification by PL of course.
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