Billionare buys into NUFC

[red pisces]

Newcastle chairman Freddy Shepherd is expected to be invited to remain at the club as Mike Ashley plans for the future.

It is understood that the 63-year-old will be asked to stay on while the four remaining directors - deputy chairman Douglas Hall and non-executive directors Bruce Shepherd, Timothy Revill and Allison Antonopoulos - part company at a Board meeting.

Shepherd's decision to sell his 28 per cent-plus holding to Ashley after the billionaire had earlier snapped up the Hall family's 41.6 per cent stake paved the way for him to gain control of the club.

Current chairman Shepherd received in excess of £37million for his shares, although it later emerged he could remain at St James' Park as an employee of the new regime.

Shepherd is yet to make a decision, but it would be a surprise if he were to reject the offer.

Ashley's renowned avoidance of the limelight means he was never likely to be the club's public figurehead, and Shepherd's experience and knowledge of the day-to-day business of the club could prove invaluable.

He has been at the helm since December 1997, when he stepped into Sir John Hall's shoes, and has presided over a turbulent decade in the club's history which has brought both highs and lows, but no trophies.

Ashley is currently forming a new-look team to run the club and while he is certain to bring in his own men, he is shrewd enough to know Shepherd's intimate knowledge could be essential.

St James Holdings Limited, the company set up by the sportswear magnate to launch his £134.4million bid for the Magpies, confirmed earlier this month that it had reached agreement to purchase a total of 77.06 per cent of the shares to make its 101p offer unconditional.

Should that figure have increased to 90 per cent by Thursday's offer deadline, Ashley will be able to compulsorily purchase the outstanding shares and take the club back into private ownership

Football365.com - SHEPHERD TO STAY IN SHAKE-UP - All The News - Football365 News

[Pennywise]

The problem is that almost every club in PL in the future will be owned by billionairs.

[kennethlindheim]

When Ashley and his team fully understand the workings of the club and what has happend over the past few years and the business side, I recon Fat Fred will be gone.

[kennethlindheim]

Four members of Newcastle's Board of Directors have resigned but chairman Freddy Shepherd has remained in his role.

Douglas Hall, Bruce Shepherd, Allison Antonopoulos and Tim Revill have all stepped down from their positions with Chris Mort and Steve Hayward being appointed to the board.

A statement on the club's website read: "Following the recommended cash offer by St James' Holdings Limited being declared unconditional in all respects on 15 June 2007, Newcastle United PLC announces the resignation of Bruce Shepherd, Allison Antonopoulos, Tim Revill and Douglas Hall from the Board of Directors and the appointment of Chris Mort and Steve Hayward to the Board of Directors; all such changes to have immediate effect."

Earlier this month billionaire businessman Mike Ashley, the 25th wealthiest man in the country, increased his shareholding in Newcastle United to 77 per cent after his company St James' Holdings Ltd completed the purchase of Shepherd's stake in the North East club.

Ashley requires another 13 per cent of the shares to take full control of the Magpies.

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[bandini]

it will take a little time for the dust to settle I'm sure but I think it's a good move for the club and Newcastle will come out of this a stronger force to be reckoned with. Good things ahead.

[Mighty T.A.L.]

Ashley increases Magpies stake

Mike Ashley has increased his shareholding in Newcastle United to 93.19 per cent.

St James' Holdings Ltd, the investment vehicle operated by Ashley, have bought more shares as they look to gain full control at St James' Park.

Ashley began his bid to buy Newcastle at the end of May when he purchased Sir John Hall's 41.6 per cent holding in the club and he has moved quickly to increase his stake even further.

Billionaire businessman Ashley plans to de-list Newcastle from the London Stock Exchange next month and he is hoping to secure the remaining 6.81 per cent of shares to bring the club into private ownership.

"As announced on 15 June 2007, SJHL intends to procure the making of an application by Newcastle United to the London Stock Exchange for the cancellation of trading of Newcastle United Shares and to the UKLA (UK Listing Authority) for the cancellation of Newcastle United's listing, both of which are expected to take effect on or around 18 July 2007," read the statement.

"Furthermore, if SJHL receives valid acceptances of the offer in respect of,or otherwise acquires, 90 per cent or more of the Newcastle United Shares to which the offer relates (such level will be reached once SJHL owns, controls or has received valid acceptances in respect of Newcastle United Shares representing approximately 94.16 per cent of the existing issued share capital of Newcastle United), SJHL will seek to acquire compulsorily the Newcastle United Shares for which it has not received valid acceptances of the offer or otherwise acquired."

Ashley earlier this week began his new regime with a boardroom reshuffle as two new directors were appointed after four members of the club's board of directors resigned.

Source: Skysports

[Mighty T.A.L.]

Ashley close to Newcastle buyout

Mike Ashley is close to completing his takeover of Newcastle United.

St James Holdings Limited, Ashley's company, revealed to the London Stock Exchange on Wednesday morning that they had reached agreement to buy almost 95% of shares by Tuesday afternoon, and that they would now take up their option to force the remaining stockholders to sell up.

It is expected that the remaining purchases will be completed by the end of next month.

After buying more than 40% of shares in May, the Newcastle board recommended Ashley's bid to takeover the Barclays Premier League club on June 7 and he had increased his stake to almost 80% by the middle of that month.

Source: tribalfootball.com