Stevenage FC have confirmed the issue of 30,000 New Ordinary Shares at £35 for a total consideration of £1,050,000…
All of these shares have been taken up by majority owner Phil Wallace, taking his holding to just over 95% in the League One club.
Mr Wallace said, “By issuing New Shares to fund the Club short term, this is not a repayable debt and 100% of the investment goes into the Club to strengthen the Balance Sheet.
“We are essentially debt-free and our ambition to compete for promotion each year, whilst remaining solvent, is an interesting challenge.
“The case for a re-distribution of funding from the Premier League into the EFL to provide sustainability and allow us to continue to play a crucial and active part in our local community, is needed more than ever”.
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