UK time is: 17:07:17
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

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
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
 

Have Your Say

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

Recent Watford Articles

Pre-Season Update (Sunday July 6 2014)

OFFICIAL: Vydra re-signs on loan (Thursday June 26 2014)

OFFICIAL: Lloyd Dyer Signs (Monday June 16 2014)

2013/14: Fans' Review (Sunday June 8 2014)

The 1881: Legends Flag Poll (Wednesday June 4 2014)

Nani Thanks Released Players (Wednesday June 4 2014)

Archived Watford Articles

List All Vital Watford Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

1. ANDY710 1

League Results (view all)

Latest Results

League Table (view table)

Team P W D L GD Pts
18. Norwich 0 0 0 0 0 0
19. Reading 0 0 0 0 0 0
20. Rotherham 0 0 0 0 0 0
21. Sheff Wed 0 0 0 0 0 0
22. Watford 0 0 0 0 0 0
23. Wigan 0 0 0 0 0 0
24. Wolves 0 0 0 0 0 0

Breaking League News

Jean Beausejour Joins Colo-Colo - Adios
Wigan : 23/07/2014 16:32:00
Another player set for injury lay-off
Reading : 23/07/2014 15:09:00
10m Medel Offer From Galatasaray
Cardiff : 23/07/2014 14:03:00
Offical - Leicester amp; Palace Bids For Campbell
Cardiff : 23/07/2014 13:57:00
Norwich Reject Fer Bid
Norwich : 23/07/2014 12:36:00

Current Site Poll (view all polls)

Will Troy Deeney be a Watford player come September 1st?
Suggested By:  Editor
Yes 80%
No 20%