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League Two Table

  PGDPts
1Portsmouth463987
2Plymouth462587
3Doncaster463085

4Luton462777
5Exeter461971
6Carlisle46171
7Blackpool462370

8Colchester461069
9Wycombe46569
10Stevenage46467
11Cambridge Utd46866
12Mansfield46466
13Accrington Stanley46365
14Grimsby46-462
15Barnet46-757
16Notts County46-2256
17Crewe46-955
18Morecambe46-2052
19Crawley Town46-1851
20Yeovil46-1550
21Cheltenham46-2050
22Newport County46-2248

23Hartlepool46-2146
24Leyton Orient46-4036

Full League Two Table
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Question of the Week

Will you attend any Checkatrade Trophy games next season?

All of them
All home games
The odd game
Knock out games
Final only
Total boycott


 

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."



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