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Stockmarket Announcement - Done Deal! Shepherd sells shares to Ashley


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YES YES YES, fantastic news.....   :clap: a new era beckons, very exicted for next season.

 

Just the way i feel about it. Cant remember when i was this happy when it comes to NUFC. Must of been after the Feyenoord game in the CL a few years back.

 

 

We really deserve some good times after all we have been going through these latest couple of years  :thup:

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Guest Milburnthedog

What great news. About time change came from the top, it needed it big time.

 

Lets hope that Ashley and Sam make the right decisions and the Club goes forward quickly, already one big step has been made.

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Guest Ridzuan

I wonder if Big Sam will only be given one season to prove that he is the right man for the job as previously reported in some articles.

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Guest johnson293

It says FS has agreed to sell, has any announcement been made in terms if timescale when it will all go through?

 

Ashley probably paid Shepherd cash for his shares, much like he did to the Halls' - so those Shares may already belong to him now.

 

The LSE announcement said the offer document would be posted today recommending that all shareholders sell at 101p, so basically as soon as shareholders receive, agree to and return this, the other shares will become his.

 

I believe they have something like 21 - 28 days to think about the offer, but hopefully most will just agree and return it straight away.

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:celb: :celb: :celb: :frantic: :frantic: :frantic: O0 O0 O0 :frantic: :frantic: :frantic:  :celb: :celb: :celb:

 

So happy today!!!

 

I was worried this takeover was going to affect the summer spending, if Freddy blocked it, but this is the best outcome and now we get a new start. So excited about the future now!

:D  8)

 

 

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Amazed this wasn't on the sports bulletins on either Five Live or Talksport this morning.

 

Anyway:

 

http://news.bbc.co.uk/1/hi/business/6729215.stm

 

Ashley to take over Newcastle Utd

 

Billionaire businessman Mike Ashley is set to take control of Newcastle United after chairman Freddy Shepherd agreed to sell his 28% stake in the club.

 

Mr Ashley, who runs the Sportsworld chain and Lillywhites, is to pay £37.6m for the shares - a move that values the club at £131m.

 

Last month his company, St James Holdings, bought 41.6% of the club's shares from Sir John Hall's family.

 

He now has about 70% of the shares, and needs 75% to trigger a full takeover.

 

The Newcastle United board has urged other shareholders to accept Mr Ashley's 101 pence-per-share offer.

 

Mr Shepherd, who is expected to stay on at the club in some capacity, said that Mr Ashley and his company would be "excellent custodians of Newcastle United's heritage".

 

"They and will provide the best opportunity for the club to flourish in the future, to the benefit of the company and its fans", he added.

 

Rich history

 

Newcastle have been trying to improve their position in the Premiership and fans have been getting increasingly frustrated with the team's performance.

 

Sam Allardyce recently replaced Glenn Roeder as manager of the club.

 

It was the third managerial change the Magpies have undergone in less than three years.

 

This season the club finished just five points above the relegation zone, having set a target of a European spot at the start of the campaign.

 

The club has a rich history, having won the FA Cup on six occasions and the league title four times, but it has failed to win any major silverware for 38 years.

 

Mr Ashley will become one of a number of large investors who have been buying stakes in English and Scottish football clubs - that have included Manchester United, Liverpool, Aston Villa and West Ham.

 

His approach is not the first that has targeted the club.

 

Last year the Belgravia Group investment fund said it was considering a bid - but then dropped its plans in January, saying it had failed to agree a price and transaction structure.

 

Meanwhile, in December last year, hedge fund Polygon tried to take over the club, but pulled out of negotiations a month later.

 

In October 2006, Newcastle United announced a £12m financial annual loss after heavy investment in players and a fall in revenues as a result of its failure to qualify for Europe.

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Guest johnson293

I thinks this will be the best ever pre season ever! Is anyone expecting an Abramovic style spending spree os a controlled one?

 

Controlled one.

 

Yep, but with the comfort of knowing that if a worlds class player becomes available, we have the funds to compete with Man Utd, Chelsea, Liverpool and, erm....... West Ham.

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Amazed this wasn't on the sports bulletins on either Five Live or Talksport this morning.

 

 

Anything before 2pm is England. Beckham. England. England. Beckham. Beckham. Beckham. McClaren. Posh Spice. Owen. Crouch. England. England. Terry Venables. England. England. Beckham. Beckham. Owen. Crouch. Rooney. Beckham. Beckham. England.

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Guest Guinness

Fantastic news! hopefully the new reign kicks in with immediate effect starting with this transfer window.

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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!!!!

 

I think that he (Ashley) intends to write a little about his vision and plans for the club, in the "offer document" that is being posted out today to shareholders.

 

That should be a very interesting read.

 

I am looking forward to that - just about the first direct words (apart from those in his letter of 23rd May) about 'our' future, from our new owner!

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Why on earth is he leaving Freddy in charge?

 

As a gesture of goodwill and to take us through the transition period i'd imagine. He'll no doubt get his own man in in time.

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Guest nufc_geordie

Amazed this wasn't on the sports bulletins on either Five Live or Talksport this morning.

 

 

This has been on the news since 6-30am ish, check the 110 page thread, sky sports news were running it when I got up about 6-30, and BBC news also mentioned it pre 7am. Lazy b*stards.

 

Anything before 2pm is England. Beckham. England. England. Beckham. Beckham. Beckham. McClaren. Posh Spice. Owen. Crouch. England. England. Terry Venables. England. England. Beckham. Beckham. Owen. Crouch. Rooney. Beckham. Beckham. England.

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