The Fishy.co.uk Grimsby Town FC

RSS



Upcoming Fixtures

Mon 23/01
International Friendlies
Uzbekistan v Georgia
National League South
Hungerford v Whitehawk
Portuguese Primeira
GD Chaves v CD Nacional
 
Tue 24/01
Spanish Copa del Rey
Alaves v Alcorcon
EFL Trophy
Swansea City U21 v Coventry
Belgian Pro League
KRC Genk v Kortrijk
Oostende v Charleroi
Zulte-Waregem v Mouscron Peruwelz
Championship
Brighton v Cardiff
League One
Gillingham v AFC Wimbledon
Oldham v Peterborough
Sheffield Utd v Fleetwood Town
National League
Barrow v Lincoln City
Eastleigh v Macclesfield
EFL Trophy
Luton v Yeovil

Full Fixture List



Question of the Week

How much would you accept for Omar Bogle?

500k
750k
1m
1.5m
2m
Not for sale!



 

Board Looking To Free Up Shares And Increase Total

By: Bill Osborne
Date: 09/09/2001

GRIMSBY TOWN's board of directors are bringing forward plans to raise money through new share issues. The intention is to first free up the unissued shares which are presently locked in by factional differences and then to increase the total share capital of the club.

The Grimsby Telegraph reports that an extraordinary meeting of shareholders will be called to gain the current shareholders approval for the plans.

Only £236,900 of the £600,000 authorised share capital has been issued and a 75% vote in favour is needed to unlock the current shares which will bring in £363,000 and the same 75% vote will be needed to increase the total share equity in the club which will be dependent on positive news on the club's new stadium.

"...We can't generate sufficient income from our facilities at Blundell Park to keep pace with the ever-increasing costs..."

Attempts to change the share structure in the past have not been successful due to factional in fighting but the board, said to be looking for stability, is hoping the current plan will be successful.

The board said today: "The financial statements released to the shareholders yesterday clearly illustrate that the financial demands of maintaining a first division football club continue to increase dramatically, and that we cannot generate sufficient income from our facilities at Blundell Park to keep pace with these ever-increasing costs."

"Taking the club forward will require fresh investment and while at present the directors have made substantial loans to the club, it is the board's wish to make available the company's existing unissued shares to provide permanent capital, rather than loans which can be withdrawn."

"The directors are committed to progressing the development of the club, but in order to do so we shall require the support of all the shareholders to enable us to work together, and with this in mind we trust that our proposals to unlock the existing unissued share capital when placed before our shareholders will receive their support."



Add To Facebook


This site is by the fans, for the fans, and we will consider articles on any subject relating to the Mariners whether it be related to current news, a nostalgic look back in the past, a story about a player, a game or games in the past, something about Blundell Park or football in general. Click here to submit your article!


Related Stories

Forum Latest
TitlePostsLatest Post
Change/add-a-letter/remove-one Word Game thread...25,259Biccys23/01 12:21
Word Association Game37,720topuphere66623/01 12:21
Scum with fish hooks!38Mandy Dunnit vs Hettie23/01 12:20
Leyton Orient & Portsmouth Away9immariner23/01 12:07
Stevenage Tickets107Posh Harry23/01 12:06
full back pairings5TheRonRaffertyFanClub23/01 11:40
Mariners Player30BeijingMariner23/01 11:39
Coooeeee3AussieMariner23/01 11:22
Listen38AussieMariner23/01 11:12
Osbourne 31thebuckleyway23/01 11:03

News  | Features  | Submit Article  |   | 
© 2017 TheFishy.co.uk