Ashley Ups Stake For Stock Market Delisting

Retail entrepreneur Mike Ashley has increased his stake in Newcastle United to
93.2% – a move that is expected to lead to the club being removed from the Stock
Exchange.

Ashley’s accumulation of more than 90% of the club means he can activate a
ruling that forces the remaining shareholders to sell their stakes.

The cancellation of Newcastle United’s stock market listing is expected to
take place on 18th July.

Ashley has been building his stake in the club over the last few weeks having
initially bought a 41.6% stake from the family of Sir John Hall through his
company St James Holdings Limited for £55m.

Chairman Freddy Shepherd then sold his 28% stake in the FA Premier League
club to Ashley further increasing the retailer’s control.

Ashley owns the Sportsworld and Lillywhites sports retail chains.