Rob W Posted June 7, 2007 Share Posted June 7, 2007 FOR IMMEDIATE RELEASE Recommended Cash Offer by St James Holdings Limited for Newcastle United PLC On 23 May 2007, St James Holdings Limited ("SJHL") announced that it had acquired 55,342,223 Newcastle United PLC ("Newcastle United", the "Company" or the "Club") shares, representing approximately 41.6 per cent. of the issued share capital of Newcastle United, from members of Sir John Hall's family at a price of 100 pence for each Newcastle United share. In accordance with the provisions of Rule 9 of the Takeover Code, SJHL also announced that it intended to make a cash offer for all of the issued and to be issued share capital of Newcastle United which was not already owned by SJHL, and that SJHL intended to seek a recommendation of the offer from the board of Newcastle United. Further to that announcement, SJHL and Newcastle United are pleased to announce that they have agreed the terms of a recommended cash offer by SJHL for all of the issued and to be issued share capital of Newcastle United not already held by SJHL or any party acting in concert with SJHL at an offer price of 101 pence per Newcastle United share (the "Offer"). The board of Newcastle United has unanimously recommended that Newcastle United shareholders accept the Offer. Irrevocable undertakings SJHL has received irrevocable undertakings from Shepherd Offshore Limited, a company connected with William Frederick Shepherd and Bruce Stewart Shepherd, and Timothy Revill, the independent non-executive director of Newcastle United, to accept the Offer in respect of a total of 37,288,959 Newcastle United shares representing, in aggregate, approximately 28.0 per cent. of the existing issued share capital of Newcastle United. These undertakings will cease to be binding only if the Offer lapses or is withdrawn and will remain binding in the event that a higher competing offer for Newcastle United is made. Commenting on the offer, Freddy Shepherd, Chairman of Newcastle United, said: "The time since Newcastle's flotation in 1997 has seen a radical transformation in the Club and its fortunes, with the Club now being one of the 20 wealthiest clubs in Europe with one of the finest stadiums in European football, a premier league participant and a regular participant in European UEFA competitions with a fantastic fan base.” "The offer from SJHL is at a level which fully reflects both the performance of Newcastle and its prospects and ambitions for the future. The Board believes that SJHL and Mike Ashley will be excellent custodians of Newcastle United's heritage and will provide the best possible opportunity for the Club to flourish in the future, to the benefit of the Company and its fans." SJHL intends to post the offer document in respect of the Offer and the form of acceptance to Newcastle United shareholders on 7 June 2007. Link to post Share on other sites More sharing options...
WhatTheFunk Posted June 7, 2007 Share Posted June 7, 2007 Rejoice fellas!!! Interesting times ahead Link to post Share on other sites More sharing options...
Guest redmayne Posted June 7, 2007 Share Posted June 7, 2007 foo - king get in there!!!! Link to post Share on other sites More sharing options...
Guest gggg Posted June 7, 2007 Share Posted June 7, 2007 He's been ripped off by a penny there like. Link to post Share on other sites More sharing options...
Rob W Posted June 7, 2007 Share Posted June 7, 2007 I'm sure he'll not forget............. Link to post Share on other sites More sharing options...
Elliottman Posted June 7, 2007 Share Posted June 7, 2007 Never been so excited for a season! I cant believe what is happening at the club compared to what? 2 months ago? Link to post Share on other sites More sharing options...
Guest theunis Posted June 7, 2007 Share Posted June 7, 2007 Interesting in deed Link to post Share on other sites More sharing options...
johnnypd Posted June 7, 2007 Share Posted June 7, 2007 the fat one is dead, long live the fat one! Link to post Share on other sites More sharing options...
Cronky Posted June 7, 2007 Share Posted June 7, 2007 Things looked so grim only a few weeks ago. It looked like Freddie was there for life and we were just going to have to sit and watch while yet more clubs overtook us. Well done to the Halls for taking unilateral action on the situation. Link to post Share on other sites More sharing options...
Ikon Posted June 7, 2007 Share Posted June 7, 2007 fucking great Link to post Share on other sites More sharing options...
BlufPurdi Posted June 7, 2007 Share Posted June 7, 2007 A new thread! Link to post Share on other sites More sharing options...
Guest stjamestoon Posted June 7, 2007 Share Posted June 7, 2007 So we have a new manager, crap players going out, and hopefully with the given rumours, some good players coming in... and a new owner, with probably alot more funds.. Link to post Share on other sites More sharing options...
johnnypd Posted June 7, 2007 Share Posted June 7, 2007 A new thread! typical mod! Link to post Share on other sites More sharing options...
Nicky Posted June 7, 2007 Share Posted June 7, 2007 Fucking brilliant news. Not got up this early on a thursday for years! Link to post Share on other sites More sharing options...
Guest GAMMELL Posted June 7, 2007 Share Posted June 7, 2007 Time to crack open a few cans of Guinness folks :celb: O0 Link to post Share on other sites More sharing options...
Rob W Posted June 7, 2007 Share Posted June 7, 2007 Broon Ale shirley??? Link to post Share on other sites More sharing options...
Crumpy Gunt Posted June 7, 2007 Share Posted June 7, 2007 Things looked so grim only a few weeks ago. It looked like Freddie was there for life and we were just going to have to sit and watch while yet more clubs overtook us. Well done to the Halls for taking unilateral action on the situation. Very simplistic view. The Halls are in financial trouble and needed out quick. Shepherd and the Halls have raped the club for over a decade and it is mainly OUR money they've used to make their lives more comfortable. I doubt whether either party has put up £10m between them to attain the positions they achieved. In fact £10m could be way over the top in an estimation. Good riddance to the cunts. On the positive though Ashley should finance at least one major signing before the end of the transfer window - he'll need to convince the rank and file he means business. Sams shopping list will suddenly have became totally different to the one him and Shepherd were working on. Link to post Share on other sites More sharing options...
womblemaster Posted June 7, 2007 Share Posted June 7, 2007 "Broon Ale shirley" she the lass that works on the corner of westgate road? Link to post Share on other sites More sharing options...
NG32 Posted June 7, 2007 Share Posted June 7, 2007 Great Day. Link to post Share on other sites More sharing options...
Guest Navman Posted June 7, 2007 Share Posted June 7, 2007 whats the timetable on the takeover - does it have to be ratified through smaller shareholders Certainly a much more optimistic next IMO - new, hungry manager, release most of the poorer players, whilst retaining the better ones, getting good £££ for SP and now a likely (albeit unknown amount) of cash Link to post Share on other sites More sharing options...
johnnypd Posted June 7, 2007 Share Posted June 7, 2007 i wonder if Ashley himself will be making any announcements about what he intends for the future. Link to post Share on other sites More sharing options...
Guest johnson293 Posted June 7, 2007 Share Posted June 7, 2007 i wonder if Ashley himself will be making any announcements about what he intends for the future. Hmm, not sure - he still seems to be quite a private man, and despite this takeover and visits to the North East, he still hasn't been photographed. If he can appoint a Chief Exec quick enough, and/or in time for completion of the takeover, then he may leave any announcements to them. However, I'm sure I read soemthign early days saying he would attend matches up here - will probably just have the windows of his private box fitted with two way mirrored galss!!!! Link to post Share on other sites More sharing options...
The College Dropout Posted June 7, 2007 Share Posted June 7, 2007 Good stuff. Roll on the impressive signings. Hopefully we don't go about like Villa and West Ham. Link to post Share on other sites More sharing options...
Razor Posted June 7, 2007 Share Posted June 7, 2007 YES YES YES, fantastic news..... a new era beckons, very exicted for next season. Link to post Share on other sites More sharing options...
geordie jamie Posted June 7, 2007 Share Posted June 7, 2007 It says FS has agreed to sell, has any announcement been made in terms if timescale when it will all go through? Link to post Share on other sites More sharing options...
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