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Sheffield United chairman increases stake

England - 07 March, 2006
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Kevin McCabe, the chairman of the Championship club, will increase his stake in the club to 46.76 percent following an open offer. The club said 15.5 percent of the shares offered have been applied for as of March 2, with the remainder being taken up by an underwriting agreement with Scarborough Property, a firm indirectly controlled by McCabe and his family. Shareholders also waived a Takeover Panel requirement that McCabe must make an offer for the entire company. Sheffield hoped to raise GBP 10.7 million with the share offering and will en up receiving GBP 10.4 million.
Source: euFootball.BIZ © Copyright 2006 - All rights reserved.

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