Writer: Stef C
Date:Friday February 24 2006
During the last few months we have seen much speculation about a possible takeover at St Mary's and today it has been announced that nearly 10% of Southampton Leisure Holdings has been purchased for £1.271 million.
The 2,542,737 shares were sold by Director Paul Thompson, though he has retained enough shares to still hold a place on the board.
The buyer has yet to reveal himself, but will have to in the next few days. Businessman Andrew Strode-Gibbons is thought to be involved, he admitted last week a consortium was being put together to try to take over from Lowe.
In the City it is thought the purchase is a prelude to a full takeover bid, which could now be mounted within days.
Being pretty unfamiliar with the stock market I don't totally understand how the valuation of the club is met. For a start the shares were bought today for 50p each, which values the club at around £14 million. The share price has remained pretty stable over the years it's been on the Stock Exchange, how come the club wasn't worth way more in the Premiership?
The most confusing thing is how the club was worth only £14 million even a few months ago before Theo Walcott left the club, he alone had a value of £15 million. Even now with the players we have left the value of the individual assets, the players, coach, academy, facilities is worth more than £14 million; what is to stop any floated football club being bought outright by a shrewd businessman and the players being entirely sold off for profit ?
Maybe any Saints fans with an understanding of the Stock Exchange could enlighten me in our forum.
Also let us know if you think this further major disruption is going to have an adverse affect on the club, just as we appear to be turning things round.
Date:Friday February 24 2006
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