UK time is: 02:04:46
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

Share Issue Agreed

Watford have finally set the ball rolling for the future with the news that shareholders have agreed to back the planned share issue, instigated by majority shareholder Lord Michael Ashcroft.

The Tory declared a number of months back that he would be prepared to underwrite the 7.5m rights issue and now has the backing of Watford Leisure PLC shareholders meaning the process can begin.

Non-executive boardmember, David Fransen (he who lent the Hornet`s 500k by way of January transfer kitty to fund the Buckley, McGinn and Taylor signings), former chairman Graham Simpson and Valley Grown Salad (Boys) Jimmy and Vince Russo were amongst the 75% of shareholders prepared to back the plan.

The share issue will see Watford replace over 8.63m of the clubs existing debt whilst also creating 1.5m in 'working capital`.

An EGM will be held on May 17th at 10am where the club`s short and longer term financial future will be discussed whilst existing shareholders will be given the opportunity to invest further in the clubs parent company.

If you want to read the story from a more full and knowledgeable perspective, then you`d best click

HERE





Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



Click here to join in the debate on the club forum.

The Journalist

Writer: wfc123 Mail feedback, articles or suggestions

Date:Saturday May 1 2010

Time: 12:26AM

Your Comments (oldest first)

Change to most recent first
hmmm it anyone of you VW'ers out there know what this whole share issue means more than WFC123 and DrWatford then please holler... its all a big ball of mumbo jumbo to us and we could do with a fans insight
DrWatford
Report Abuse
01/05/2010 08:05:00

The style of this allows shareholders to add interest to their investment when/if a buyer is found. I have no problems with it and I see that our shareholders ( inc Russo `s this time) are acting in WFC interests whilst protecting their own.
Dirk Thrust
Report Abuse
10/05/2010 10:03:00

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Watford Articles

Last Gasp Winner Sinks Watford (Saturday March 21 2015)

Stats: Watford v Ipswich Town (Saturday March 21 2015)

PREVIEW: Watford v Ipswich (Saturday March 21 2015)

Man In The Middle: Andy D'Urso (Thursday March 19 2015)

Done Deal: Hornets Snap Up Connolly (Thursday March 19 2015)

Deeney Double Sends Watford Top (Tuesday March 17 2015)

Stats: Wigan Athletic v Watford (Tuesday March 17 2015)

PREVIEW: Wigan v Watford (Tuesday March 17 2015)

Man In The Middle: David Coote (Monday March 16 2015)

Watford Put Four Past Reading (Saturday March 14 2015)

Archived Watford Articles

List All Vital Watford Articles
Have your say
Click here to suggest an article
Click here to suggest a poll
ScoopDragon Publishing Entire League Network of Sites

League Table (view table)

Team P W D L GD Pts
1. Bournemouth 39 21 10 8 +42 73
2. Watford 39 22 6 11 +32 72
3. Middlesbrough 39 21 9 9 +29 72
4. Norwich 39 20 10 9 +33 70
5. Derby County 39 19 10 10 +26 67
6. Ipswich 39 19 10 10 +16 67
7. Brentford 39 20 6 13 +12 66

Breaking League News

LUFC Four see red as Eire claim last gasp draw
Leeds Utd : 31/03/2015 20:44:01
RUFC - Reserves Get Away Draw
Rotherham : 31/03/2015 20:11:00
LUFC Double blow for Cook
Leeds Utd : 31/03/2015 19:51:01
LUFC Leeds Midfielder having trial with Scunthorpe
Leeds Utd : 31/03/2015 19:06:00
Countdown To Bournemouth Showdown Begins!
Ipswich : 31/03/2015 18:28:00

Current Site Poll (view all polls)

Who can hit a ball harder, Richard Johnson or Daniel Tozser?
Suggested By:  Editor
Johnno 62%
Tozser 38%