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Board make further offer announcement

The club announced some further details today in respect of the offer for the club. It is all fairly long winded so the link to the full story is here.

In summary, it appears as though just over 80% of the shares have now been acquired by Thaksin Shinawatra, a figure which is still short of the 90% mark required for the compulsory acquisition for him to gain total control of the club.


Thanks to the anonymous poster in the comments section for pointing out the paragraph regarding the request to cancel the admission of shares on the Plus Markets as of 23rd July (Monday):

As a result of UKSIL having declared the Offer
unconditional in all respects and having acquired, by virtue of its
shareholdings and acceptances of the Offer, Manchester City Shares carrying at
least 75.0 per cent. of the voting rights of Manchester City, UKSIL announces
that it has requested PLUS Markets to cancel the admission of Manchester City
Shares to trading on PLUS Markets with effect from 4:30 pm on 23 July
Any cancellation of admission to trading of Manchester City Shares will
significantly reduce the liquidity and marketability of any Manchester Shares
which are not acquired under the Offer and their value may be materially and
adversely affected as a consequence.
UKSIL now intends to procure that
Manchester City be re-registered as a private limited company.