With the authority given by the shareholders at the General Meeting last month, the Directors have approved the allotment and issue of 55,000,000 Ordinary Shares of 1 pence each at an issue price of 1.35 pence per share in consideration for the release and discharge of a corresponding amount against the outstanding loan advanced by FPS to Dundee FC. With the issue of these shares, FPS now owns 75.08% of the equity.
The directors are currently discussing with the club’s advisors how best to efficiently offer new shares to existing shareholders and other interested parties and further information on this matter will be announced in due course.
