DERMOT DESMOND, Celtic's major shareholder, has increased his stake in the club to 40.45-per cent after underwriting the latest share issue by GBP8m.
The Irish businessman, though, has no inclination to instigate an outright takeover bid despite increasing his holding from 29.9-per cent Celtic announced a GBP15m share issue in October to improve the club's football infrastructure, including a new training facility in Lennoxtown, as well as reducing the debts.
Confirmation dispatched to the London Stock Exchange yesterday morning revealed that Desmond took advantage of the issue to the tune of GBP8m, with the rest raised by other investors.
After the allotment of new ordinary shares of 1p each on December 21, under the Open Offer and Offer of Subscription, Desmond has 26,498,303 ordinary shares of 1p at an issue price of 30p each. His interest in ordinary shares increases to 32,772,073 shares (40.45-per cent), Christopher Trainer, the billboard advertising magnate from Glasgow's South Side, purchased 5,000,000 ordinary shares of 1p and now has a 7.32-per cent stake in his name.
John Keane, a long-serving director, was allotted 2,666,667 ordinary shares of 1p and now has a 5.52-per cent stake. Michael Culhane was allotted 3,000,000 ordinary shares of 1p and now has 3,000,000 ordinary shares. Trainer paid GBP1.5m for his five million shares, Keane GBP800,000 and Culhane GBP900,000.
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