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Shareholders Say Yes To New Share Issue!
By: Bill Osborne
GRIMSBY Town Football Club called an Extraordinary Meeting of Shareholders today to seek authority to issue more shares. The club wanted to sell the remaining 363,000 unissued shares in a bid to raise cash.
The club has a share capital of 630,000 Â£1 shares but to date only 236,900 have been issued and the club needed to gain a 75 per cent majority in favour of the proposal.
The club have now announced that the shareholders have consented to the share issue and stand to gain 363,000 pounds through their sale. More News on the EGM shortly.
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