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does that mean in other words take out loans and secure them where you like but do not offer shares to new share holders in layman's terms?

 

Just means another offer to existing shareholders rather than a share issue open to all.

 

Ashley will underwrite as I doubt anyone else will fancy it. Seems to me this vote would be cause of Crighton resignation.

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So today's outcome in a nutshell.

 

- All incumbent directors are ratified.

- However, low Somers backing means his position is extremely insecure and I'd expect him to leave soon enough.

- Failure of Resolution 9 means there can only be a issue for existing shareholders meaning Mike Ashley is arguably a certainty to increase his holding to around 29%.

- This will bring in several million to the club to stave off an insolvency event in the short term.

- Medium-long term, who knows.

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So today's outcome in a nutshell.

 

- All incumbent directors are ratified.

- However, low Somers backing means his position is extremely insecure and I'd expect him to leave soon enough.

- Failure of Resolution 9 means there can only be a issue for existing shareholders meaning Mike Ashley is arguably a certainty to increase his holding to around 29%.

- This will bring in several million to the club to stave off an insolvency event in the short term.

- Medium-long term, who knows.

 

You could have posted that at 8am, Frankie. The stitch up continues unabated.

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Just means another offer to existing shareholders rather than a share issue open to all.

 

Ashley will underwrite as I doubt anyone else will fancy it. Seems to me this vote would be cause of Crighton resignation.

Think its fair to say from previous negotiations the club have had with MA that that will cost us more than the resulting shares.
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