MCCABE RAISES CONTROLLING INTEREST IN SHEFFIELD UNITED

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Kevin McCabe, chairman of the Championship club, has increased his stake in the company that owns the club, Sheffield United PLC, to 46.76 percent. The increased share in the company comes after an open offer for 71.2 million shares, a move made to generating GBP 10.4 million for investment in the club and outside interests, such as the purchase of a fitness club in south London.

McCabe’s gained approval for his increase in the company by shareholders at an EGM (Extraordinary General Meeting) that also waived a takeover requirement that McCabe would normally have to make given the amount of stock purchased.

As a result of the open offer, 15.5 percent of available shares had been applied for, with the remaining 55.67 million shares purchased by McCabe and his controlling companies. A total of 69,356,217 new shares have been admitted onto the Alternative Investment Market (AIM).