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Shepherd is confident of holding Newcastle
England - 20 June, 2006
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English Newcastle chairman Freddy Shepherd is confident of holding the club after news reports surfaced that Sir John Hall has been approached.
News that former chairman Hall, now club president, has received an approach to sell his holding has sparked suggestions that ownership could change hands.
A statement was released to the Stock Exchange by Newcastle PLC Monday morning following speculation over the weekend that American hedge fund Polygon has been working with investment bank UBS for several months on a buy-out proposal.
The statement said: "The board of Newcastle United PLC notes recent press speculation and confirms that it has today been informed by Sir John Hall representing Wynyard (Guernsey) Limited, which owns approximately 28.8% of Newcastle United PLC, that it has received expressions of interest to acquire its shareholding, which may or may not lead to the disposal of its stake.
"A further announcement will be made if appropriate."
Hall's son, Douglas, currently deputy chairman, is linked to a further 13 percent stake, while Shepherd Offshore recently upped its holding to 27.29 percent.
It is not the first time Shepherd has been offered the opportunity to sell up. Reports last summer suggested a Malaysian group and another British-based investor were ready to claim his stake.
Metrocentre developer Hall succeeded Gordon McKeag at the helm of the struggling club and having drafted in former player Kevin Keegan as manager, sparked Newcastle.
By the time he stood down as chairman to be succeeded by Shepherd in December 1997, the club had twice finished runners-up in the Premiership and had embarked upon their first Champions League campaign. It was Hall who, 10 years ago, provided Keegan with GBP 15 million - at the time a record - to buy Alan Shearer. The big spending has continued under Shepherd.
Newcastle PLC reported an operating profit of GBP 2.7 million for the six months to January 31, 2006, down GBP 5.8 million from the previous period. However, the club spent GBP 28 million on Michael Owen, Albert Luque and Nolberto Solano during the same six months.
Hall, who paid an estimated £3m to take charge of the club in 1991, stepped down as chairman in 1997. The Hall family are the largest shareholders, not the majority shareholders. They control Wynyard (Guernsey) Limited, a trust run for the benefit of the Hall family, which owns 36,650,000 shares (28.5 percent), Cameron Hall Developments Limited which owns 10,178, 217 shares (4.7 percent) and Cameron Developments Executive Pension Scheme which owns 6,108,848 shares (7.9percent).
Hall was replaced by Freddy Shepherd as Newcastle United chairman and Shepherd Offshore Limited has an interest in 26.7 percent of the company’s equity. In the year ended 31 July 2005, Newcastle United earned an operating profit after player trading of GBP 4.5 million on turnover of GBP 87.1 million.
News that former chairman Hall, now club president, has received an approach to sell his holding has sparked suggestions that ownership could change hands.
A statement was released to the Stock Exchange by Newcastle PLC Monday morning following speculation over the weekend that American hedge fund Polygon has been working with investment bank UBS for several months on a buy-out proposal.
The statement said: "The board of Newcastle United PLC notes recent press speculation and confirms that it has today been informed by Sir John Hall representing Wynyard (Guernsey) Limited, which owns approximately 28.8% of Newcastle United PLC, that it has received expressions of interest to acquire its shareholding, which may or may not lead to the disposal of its stake.
"A further announcement will be made if appropriate."
Hall's son, Douglas, currently deputy chairman, is linked to a further 13 percent stake, while Shepherd Offshore recently upped its holding to 27.29 percent.
It is not the first time Shepherd has been offered the opportunity to sell up. Reports last summer suggested a Malaysian group and another British-based investor were ready to claim his stake.
Metrocentre developer Hall succeeded Gordon McKeag at the helm of the struggling club and having drafted in former player Kevin Keegan as manager, sparked Newcastle.
By the time he stood down as chairman to be succeeded by Shepherd in December 1997, the club had twice finished runners-up in the Premiership and had embarked upon their first Champions League campaign. It was Hall who, 10 years ago, provided Keegan with GBP 15 million - at the time a record - to buy Alan Shearer. The big spending has continued under Shepherd.
Newcastle PLC reported an operating profit of GBP 2.7 million for the six months to January 31, 2006, down GBP 5.8 million from the previous period. However, the club spent GBP 28 million on Michael Owen, Albert Luque and Nolberto Solano during the same six months.
Hall, who paid an estimated £3m to take charge of the club in 1991, stepped down as chairman in 1997. The Hall family are the largest shareholders, not the majority shareholders. They control Wynyard (Guernsey) Limited, a trust run for the benefit of the Hall family, which owns 36,650,000 shares (28.5 percent), Cameron Hall Developments Limited which owns 10,178, 217 shares (4.7 percent) and Cameron Developments Executive Pension Scheme which owns 6,108,848 shares (7.9percent).
Hall was replaced by Freddy Shepherd as Newcastle United chairman and Shepherd Offshore Limited has an interest in 26.7 percent of the company’s equity. In the year ended 31 July 2005, Newcastle United earned an operating profit after player trading of GBP 4.5 million on turnover of GBP 87.1 million.
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