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Shinawatra makes formal offer for Manchester City

The good doctor has finally completed his due diligence and has made an offer of £81.6 million pounds for what appears to be 55% of mcfc and clears the debt. I say appears as the official announcement from the club is really too long and complicated for the likes of me !

Here are some of the key points :

The shares to be sold :

Walbrook Trustees (Guernsey) Limited 10,140,461 18.75
John Carruthers Wardle/ John Stephen Riches 5,431,681 10.04
Dawn Elizabeth Makin/ David Martin Makin 5,431,680 10.04
Francis H Lee 3,857,044 7.13
John Carruthers Wardle 3,275,233 6.06
David Martin Makin 2,061,406 3.81
Dennis Tueart 36,258 0.07
Bryan Bodek 10,000 0.02
Alistair Mackintosh 9,100 0.02

The walbrook trustees is The Boler estate (probably!)

Board Changes

· Dr. Thaksin Shinawatra will assume the position of Chairman of the Board of Manchester City and Manchester City Football Club;
· John Wardle will resign as non-executive Chairman of Manchester City and will be appointed non-executive Deputy Chairman of Manchester City;
· Alistair Mackintosh will remain as Chief Executive of Manchester City and a director of Manchester City Group;
· Bryan Bodek will remain on the boards of Manchester City and Manchester City Group as a non-executive director;
· Panthongtae and Pintongta Shinawatra, together with Sasin Monvoisin, will be appointed to the boards of both Manchester City and Manchester City Football Club as non-executive directors;
· Dennis Tueart has agreed to resign from the boards of both Manchester City and Manchester City Football Club;
· Mark Boler has agreed to resign from the Board of Manchester City; and
· David Makin has agreed to resign from the board of Manchester City Football Club.

So surprisingly Wardle stays as deputy whilst Mackintosh and Bodek also remain Makin, Tueart, Boler all go.

Obviously Dannys criticism and calls for the club to terminate talks with Mr Shinawatra stung him into action.

As a voice of the fans I can state as a fact that 71.24536% of City fans are behind this bid.