Billionaire buys 41.6% of Newcastle United from Hall and now buys Shepherds shares.

[Marching]

Billionaire businessman Mike Ashley today bought a 41.6% holding in Newcastle to launch a takeover bid.

St James’ Holdings Limited, a company set up specifically to buy shares in the club, has acquired 55,342,223 shares at 100p each from Wynyard (Guernsey) Limited, Cameron Hall Developments Limited and Cameron Hall Developments Limited Executive Pension Scheme, the holdings of Sir John Hall and his family.

British stock exchange rules mean that the company now has to make a cash offer for the remaining shares, around 29.8% of which belong to chairman Freddy Shepherd.


Cash Offer
by
St James Holdings Limited
for
Newcastle United PLC

Summary

· St James Holdings Limited (SJHL) (a company formed at the direction of Mike Ashley) announces that it has today acquired 55,342,223 Newcastle United Shares, representing approximately 41.6 per cent. of the issued share capital of Newcastle United, from Wynyard (Guernsey) Limited, Cameron Hall Developments Limited and Cameron Hall Developments Limited Executive Pension Scheme (the ultimate beneficial owners of each of which are all members of Sir John Hall's family) at a price of 100 pence for each Newcastle United Share.

· SJHL is a UK private limited company which is wholly-owned by Mike Ashley and which has been incorporated for the specific purpose of acquiring Newcastle United Shares and making the Offer.

· In accordance with the provisions of Rule 9 of the City Code, SJHL also announces the terms of a cash offer to be made for all of the issued and to be issued share capital of Newcastle United which is not already owned by SJHL. SJHL intends to seek a recommendation of the Offer from the board of Newcastle United.

· The Offer will, when formally made, be conditional only upon the receipt of acceptances in respect of Newcastle United Shares which, together with the Newcastle United Shares acquired or agreed to be acquired before or during the Offer, will result in SJHL holding Newcastle United Shares carrying more than 50 per cent. of the voting rights in Newcastle United.

· The Offer will be 100 pence in cash for each Newcastle United Share, valuing the entire issued share capital of Newcastle United at £133.1 million

· The Offer represents:

o a premium of approximately 19 per cent. to the Closing Price of 84 pence for each Newcastle United Share on 22 May 2007; and

o a premium of approximately 50 per cent. to the average Closing Price of 66.9 pence for each Newcastle United Share in the three month period up to and including 22 May 2007,

22 May 2007 being the last business day prior to the announcement of the acquisition.

Commenting on the Offer:

Mike Ashley said:

"I am delighted to have this opportunity to invest in Newcastle United. The club has a fantastic infrastructure, for which Sir John and the board must take much of the credit. I am pleased that Sir John has agreed to remain as Life President of the club. Newcastle United has a wonderful heritage and the passion of its fans is legendary. I am sure that, like me, they are already excited about the prospects for next season under the new manager's stewardship."

Sir John Hall said:

"I have been associated with the direction of Newcastle United for nearly 20 years. In that time, I have led the club and, before I retired, led the team responsible for the modernisation of the club we all see today.

It is now time for me to move on and let others take up the challenge of competing in the global market place.

Mike Ashley is a major player in the sporting world and I am convinced that he is the right person to take my place and take the club forward. I am sure he will be good for the club and its loyal fans and indeed for the region. I wish him the very best and hope he enjoys it as much as I have.

Finally, I would like to thank all the fans for their support whilst I was at the helm and would ask them to lend the same level of support to Mike. He has my full backing."

The Offer Document will be posted to Newcastle United Shareholders in due course.

 

[Richter]

Seems like a rich bastard.

25 £1900m Mike Ashley Sports Goods 54 £1000m

http://en.wikipedia.org/wiki/Sunday_Times_Rich_List_2007

 

[viiinz]

another club in a takeover...

 

[Nick 0208 Ldn]

A British billionaire has invested in a football club, a rare event.

Though Newcastle have never been short of cast, well they don't mind spending a fair bit at least.

Allardyce and removing that curse from their training ground, that's where next season's hopes lie you'd think.

Any word from Freddie Shepherd yet?


EDIT: The Sun's Buesiness Editor Ian King was jsut on talkSPORT, Ashley ahs no known allegiance football wise, hwoever is said to be an ethusiastic Engalnd supporter.

That and the now boosted future pospects of the Newcastle could throw some cold water on all these Owen rumours.

 

[Frosty]

I bet Newcastle fans must be praying that Shepherd sells up

 

[the_box]

I bet Newcastle fans must be praying that Shepherd sells up

fecking right we are Although my little heart might just burst for joy if the fat one sells

 

[Marching]

A British billionaire has invested in a football club, a rare event.

Though Newcastle have never been short of cast, well they don't mind spending a fair bit at least.

Allardyce and removing that curse from their training ground, that's where next season's hopes lie you'd think.

Any word from Freddie Shepherd yet?


EDIT: The Sun's Buesiness Editor Ian King was jsut on talkSPORT, Ashley ahs no known allegiance football wise, hwoever is said to be an ethusiastic Engalnd supporter.

That and the now boosted future pospects of the Newcastle could throw some cold water on all these Owen rumours.

Shepherd has been buying up shares left right and centre for quite a while now so his next move will be interesting.

He said this last week..."It's a plc matter so I can't say too much - but none of the (takeover) talks have come to anything for one simple reason - I'm not selling.

"It's an impossible club to buy. If the Halls don't sell and I don't sell, there's no way anybody can buy this club.

"The both of us need to agree to sell the club, otherwise nobody will ever get the 75 per cent that they need to buy it."

"I can't comment on possibly buying the Halls' stake."

Ashley is the smartly dressed guy on the right

I should be in for some NUFC freebies as one of Mike Ashleys companies sponsor some of my products.....I won't hold my breath though as I doubt he was involved directly in the deal.

 

[Woodzy]

The next football manager is going to be a muppets dream. All the clubs are gonna be minted.

 

[Successful]

At least it is an english take over. I thought we were in for a trend with american owners and all that comes along with that.

 

[Dreaded]

Who cares what nationality the owners are?

 

[Marching]

Update...

Freddy Shepherd quotes from the Express (who claim that the Chairman had been in the Freeman Hospital with suspected pneumonia when the Ashley news broke):

“There is nothing Mike Ashley can do with this club unless he gets 75 per cent of the stake.

"He can’t take full control, he can’t change resolutions or the club’s articles of association. He has spent more than £50million, but he will have to spend a whole lot more as he must now make an offer not just for my shares, but the shares held by all the other shareholders.”

Meanwhile Sam Allardyce gave his reaction to the Sun:

"I'm as shocked about this as chairman Freddy Shepherd.

"I didn't know this was going to happen. I will be talking to the chairman to see what it all means and we'll go from here.

"I don't know anything about the person hoping to take over. But he must want good things for Newcastle if he's spending such an amount on the club.

 

[Ole_Gunnar]

Update...

Freddy Shepherd quotes from the Express (who claim that the Chairman had been in the Freeman Hospital with suspected pneumonia when the Ashley news broke):

“There is nothing Mike Ashley can do with this club unless he gets 75 per cent of the stake.

"He can’t take full control, he can’t change resolutions or the club’s articles of association. He has spent more than £50million, but he will have to spend a whole lot more as he must now make an offer not just for my shares, but the shares held by all the other shareholders.”

Meanwhile Sam Allardyce gave his reaction to the Sun:

"I'm as shocked about this as chairman Freddy Shepherd.

"I didn't know this was going to happen. I will be talking to the chairman to see what it all means and we'll go from here.

"I don't know anything about the person hoping to take over. But he must want good things for Newcastle if he's spending such an amount on the club.

 

[Nick 0208 Ldn]

Update...

Freddy Shepherd quotes from the Express (who claim that the Chairman had been in the Freeman Hospital with suspected pneumonia when the Ashley news broke):

“There is nothing Mike Ashley can do with this club unless he gets 75 per cent of the stake.

"He can’t take full control, he can’t change resolutions or the club’s articles of association. He has spent more than £50million, but he will have to spend a whole lot more as he must now make an offer not just for my shares, but the shares held by all the other shareholders.”

Sounds like he'll sell, eventually. Just plans on dragging the process out and squeezing every last penny possible out of Ashley before accepting terms.

Which is no surprise, though hardly ideal for Allardyce. JMO

 

[Marching]

I'm led to believe that Freddie Shepherd has also sold his shares now....for around £37 million. If this figure is right, he seems to have got a better deal than John Hall got for his shares.

He's staying on as chairman.

 

[Murphman]

My ignorance of this reclusive fellah is quite staggering being as we went to the same school. I''m trying to work out whether we were actually there at the same time as I'm older than he is. He lived in a quiet largely middle class village and went to a largely middle class grammar school, very ordinary background and here he is on the rich list.

He's mentioned on the old school website yet I know NOBODY who remembers Mike Ashley, a recluse indeed.

They all remember Ulrika though.

 

[Marching]

My ignorance of this reclusive fellah is quite staggering being as we went to the same school. I''m trying to work out whether we were actually there at the same time as I'm older than he is. He lived in a quiet largely middle class village and went to a largely middle class grammar school, very ordinary background and here he is on the rich list.

He's mentioned on the old school website yet I know NOBODY who remembers Mike Ashley, a recluse indeed.

They all remember Ulrika though.

He has done well for himself and his wealth seems to increase weekly....made £30m on some shares he bought and sold over an eight week period.

As for going to school with people that have done well for themselves....I went to the same school as the guy who started the Innocent smoothie company.....oh, and Joseph Priestley (please don't say you've never heard of him) went there to a few years before me

 

[Frosty]

He has done well for himself and his wealth seems to increase weekly....made £30m on some shares he bought and sold over an eight week period.

As for going to school with people that have done well for themselves....I went to the same school as the guy who started the Innocent smoothie company.....oh, and Joseph Priestley (please don't say you've never heard of him) went there to a few years before me

I've heard of him...

Discovered oxygen didn't he? Which I have to say, must have been handy

 

[Murphman]

He has done well for himself and his wealth seems to increase weekly....made £30m on some shares he bought and sold over an eight week period.

As for going to school with people that have done well for themselves....I went to the same school as the guy who started the Innocent smoothie company.....oh, and Joseph Priestley (please don't say you've never heard of him) went there to a few years before me

Nope

 

[Marching]

Well done Frosty.

Ignore the thick scouser.....shame we got him rather than Mike Ashley.

 

[Bearded but no genius]

Update...

Freddy Shepherd quotes from the Express (who claim that the Chairman had been in the Freeman Hospital with suspected pneumonia when the Ashley news broke):

“There is nothing Mike Ashley can do with this club unless he gets 75 per cent of the stake.

"He can’t take full control, he can’t change resolutions or the club’s articles of association. He has spent more than £50million, but he will have to spend a whole lot more as he must now make an offer not just for my shares, but the shares held by all the other shareholders.”

Meanwhile Sam Allardyce gave his reaction to the Sun:

"I'm as shocked about this as chairman Freddy Shepherd.

"I didn't know this was going to happen. I will be talking to the chairman to see what it all means and we'll go from here.

"I don't know anything about the person hoping to take over. But he must want good things for Newcastle if he's spending such an amount on the club.

Turmoil at SJ Park.

Could this be good news for you in the end, though, Marching?

I've been saying for ages Freddie is a useless twat who makes you lot a laughing stock, and you've been defending him.

 

[the_box]

Turmoil at SJ Park.

weeks old quote. The recent business with Viduka, Barton, Parker and apparently Rosenthal seems to indicate things are going swimmingly.

Could this be good news for you in the end, though, Marching?

I've been saying for ages Freddie is a useless twat who makes you lot a laughing stock, and you've been defending him.

Fat Fred really is a fan. He's always backed his managers, even idiots like Souness, with the clubs best interest genuinely at heart. Of course in Graemes case it was attempting to compensate for the wrong appointment. At the end of the day Freddie really isn't a great chairman at all. Not the worst in the land but ugh.

Though for one I've wanted him out for a while, it looks like Ashley will probably keep him around at least another year as kind of a Geordie advisor until he gets someone better in to run the day-to-day.

 

[Marching]

Turmoil at SJ Park.

Could this be good news for you in the end, though, Marching?

I've been saying for ages Freddie is a useless twat who makes you lot a laughing stock, and you've been defending him.

He's always backed his managers, is a big Toon fan, he's just got paid £37,279,000 for his stake in NUFC and gets to keep his well paid chairmans job.

You have an odd idea of what makes a useless twat.

 

[Bearded but no genius]

He's always backed his managers, is a big Toon fan, he's just got paid £37,279,000 for his stake in NUFC and gets to keep his well paid chairmans job.

You have an odd idea of what makes a useless twat.

Will he be jumping up and down telling supporters he's in for Ronaldinho, E'too, Ronaldo, and any other superstar who is even remotely linked with a transfer, just so he can get his chubby face in the paper?

He just runs around making a fool of himself screaming 'Newcastle are a big club, I swear', whilst appointing such managerial experts as Souness and Roeder, having utterly shit upon one of the legends of the game because Keiran Dyer and Craig Bellamy were twats.

Good job of backing his manager. He handled that nearly as well as with the joke 'summoning' of Roeder to SJP. He couldn't even sack a manager properly!

An unbelievably self-promoting fool.

Big Sam is the first truly intelligent thing he's done in years for your club. I'm actually worried about Newcastle now, if Freddie is getting phased out and Big Sam is going to get real financial support.

 

[Uzi]

give him a year. he'll then be handed his p45

 

[Giggsy05]

Not like Newcastle have never spent money, they have just spent it on shit. I mean you by Micheal Owen when you have Titus fecking Bramble as your best defender FFS.

 

[Red Dreams]

Big Sam...big money...recon finally Newcastle may be a team worth watching again...

 

[Giggsy05]

Big Sam...big money...recon finally Newcastle may be a team worth watching again...

nah hes a fecking goon, he sells Scott parker " who I rate higher than Fletcher " and replaces him with fecking Barton who I rate no higher than a turd.

 

[Red Dreams]

nah hes a fecking goon, he sells Scott parker " who I rate higher than Fletcher " and replaces him with fecking Barton who I rate no higher than a turd.

agree that was a strange swap....but Sam has always got the max from limited resourses...
tell you what he is superior to McLaren....

 

[Giggsy05]

agree that was a strange swap....but Sam has always got the max from limited resourses...
tell you what he is superior to McLaren....

OOO feck you couldnt be more right. Wouldnt be surprised if big Sam has a clause in his contract when Mcclaren fecks up yet again.

 

[Red Dreams]

OOO feck you couldnt be more right. Wouldnt be surprised if big Sam has a clause in his contract when Mcclaren fecks up yet again.

I said elsewhere...when Big Sam signed for the Barcodes...he will be the next England manager....

it is an utter disgrace that England with the players we have available have been SO bloody poor in tournies...just watch the press creaming themselves over Becks and the 'big' win over Estonia...hides the cracks that is McLarens tactics...

I just wish England would take one tournament by storm....

 

[Marching]

Wouldnt be surprised if big Sam has a clause in his contract when Mcclaren fecks up yet again.

That's the rumour going round Newcastle.

 

[The Hairdryer]

Why would you want to manage the shower of shite that is England?

 

[Red Dreams]

Why would you want to manage the shower of shite that is England?

The FA not having the balls to hire a 'football manager' has made the shower of shite that is 'England'.....

 

[Rooney gr8]

newcasle are shite and have been for a very long time..its almost a tradition now.
regardless of financing and money, the racism and sexism will piss on the skills of the most hardened players over time, unless you are born up there that is!

 

[Red Dreams]

yup....have heard about how racist they are over there....

 

[Drifter]

Shepherd to sell Magpies stake



Newcastle chairman Freddy Shepherd has agreed to sell his 28 per cent stake in the club to Mike Ashley.

Billionaire businessman Ashley, the 25th wealthiest man in the UK, bought a 41.6 per cent stake in Newcastle from Sir John Hall and his family a fortnight ago.

Ashley has now struck a deal with Shepherd to take his shares, with the sale raising his holding in The Magpies to a little under 70 per cent.

He needs to acquire 75 per cent to take full control at St James' Park, and the Newcastle board have recommended that Ashley's offer of 101 pence per share be accepted by the remaining shareholders.

Shepherd, who will receive more than £37.6million for his family's stake, is expected to remain as chairman.

Only last month Shepherd claimed Newcastle was an impossible club to buy and vowed never to sell his stake.

However, his stance then softened and he has agreed to sell after listening to Ashley's plans for the club.

A statement issued by Shepherd read: "The offer from SJHL (St James Holdings Limited - Ashley's company) is at a level which fully reflects both the performance of Newcastle and its prospects and ambitions for the future.

"The board believes that SJHL and Mike Ashley will be excellent custodians of Newcastle United's heritage and will provide the best possible opportunity for the club to flourish in the future, to the benefit of the company and its fans."

 

[manux399]

Turmoil at SJ Park.

Could this be good news for you in the end, though, Marching?

I've been saying for ages Freddie is a useless twat who makes you lot a laughing stock, and you've been defending him.

Why's it good news for Marching, he's a Leeds Fan..? Ah maybe Fat Freddie will buy Leeds, I get your point now.!

 

[Marching]

Shepherd to sell Magpies stake



Newcastle chairman Freddy Shepherd has agreed to sell his 28 per cent stake in the club to Mike Ashley.

Billionaire businessman Ashley, the 25th wealthiest man in the UK, bought a 41.6 per cent stake in Newcastle from Sir John Hall and his family a fortnight ago.

Ashley has now struck a deal with Shepherd to take his shares, with the sale raising his holding in The Magpies to a little under 70 per cent.

He needs to acquire 75 per cent to take full control at St James' Park, and the Newcastle board have recommended that Ashley's offer of 101 pence per share be accepted by the remaining shareholders.

Shepherd, who will receive more than £37.6million for his family's stake, is expected to remain as chairman.

Only last month Shepherd claimed Newcastle was an impossible club to buy and vowed never to sell his stake.

However, his stance then softened and he has agreed to sell after listening to Ashley's plans for the club.

A statement issued by Shepherd read: "The offer from SJHL (St James Holdings Limited - Ashley's company) is at a level which fully reflects both the performance of Newcastle and its prospects and ambitions for the future.

"The board believes that SJHL and Mike Ashley will be excellent custodians of Newcastle United's heritage and will provide the best possible opportunity for the club to flourish in the future, to the benefit of the company and its fans."

Freddie is far from daft and with comments like that he's managed to get a better deal for his shares and will probably keep his well paid job for a while too.

Why's it good news for Marching, he's a Leeds Fan..? Ah maybe Fat Freddie will buy Leeds, I get your point now.!

Buy Leeds? You need to stay out of that Dubai sun mate?

 

[KingMinger22]

Why would you want to manage the shower of shite that is England?

Because you get a fat pay cheque; Sam seems a patriotic bloke - if you succeed you will be adored by your home nation; because there is a lot of talent in that team but it's not working, so it has potential...


Bit of a stupid question isn't it?