Wild Sheep Sports' proposed investment into Motherwell FC has been amended on three counts after feedback over the initial terms.

The club announced changes to the proposal from Erik and Courtney Barmack after discussions with the Motherwell board of directors.

And three changes have been made to the investment efforts after serious concerns from supporters - and majority shareholders, the Well Society, over the initial proposal.

The new terms will see the Well Society remain majority shareholders with 50.1 per cent shares in the club after the six-year investment period.

As a result, Wild Sheep Sports' holding in the club would be reduced to 47 per cent from the previous 49 per cent figure. 

The 50.1 per cent shareholding for the Well Society would be achieved by converting half of the debt - which would have been removed in year six - into shares.

The shift would remove the need for further investment from the group.

The third amendment sees the buyback fee reduced from £660k to £630k meaning it would be "easier" for the Well Society to exercise the call option if necessary.

A vote on the investment proposal is set to begin on July 1 with shareholders to receive further information on voting procedure in due course.

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A club statement read: "The Board of Directors of Motherwell FC have had further discussions with Erik & Courtney Barmack (Wild Sheep Sports) in relation to their proposed investment into MFC.

"Both parties have considered all feedback received to date during the on-going consultation period.

"Consequently, it has been agreed to amend the investment proposal as follows:

"1. The new proposal is that at the end of the 6-year investment period, the Well Society remain the majority shareholder in MFC with 50.1% shareholding.

"As a result, Wild Sheep Sports shareholding reduces to 47% from the original proposal. The balance of shares would still remain with the existing other shareholders.

"Therefore, Fan Ownership is guaranteed with the Well Society remaining the majority shareholder by itself.

"2. The 50.1% majority shareholding of the Well Society would be achieved by converting half of the debt that was going to be removed in year 6 into shares for the Well Society.

"Therefore, the increase in the Well Society shareholding would not require the Well Society to invest any additional sums to the original proposal.

"3. The new proposal also reduces the buyback amount from £660k to £630k, making it easier for the Well Society to exercise the call option should they feel that Wild Sheep Sports is not adding strategic value to the Club.

"Should any shareholder or Well Society member require any further information please contact shares@motherwellfc.co.uk or members@thewellsociety.uk.

"Voting will commence on the 1st July, with MFC shareholders and Well Society members receiving further information on how to do so in due course."