Everton FC Shareholders await outcome of new Moshiri equity deal
Following recent reports that Farad Moshiri, the majority owner of Everton Football Club is expected to engage in a £250m debt for equity deal, Blankstone Sington, the share dealing broker for the Everton Shareholders Association has taken the decision to suspend all trading at the present time.
Blankstone Sington is currently seeking clarification from Everton FC, with the assistance of the Everton Shareholders Association, on the exact details of the Club’s proposal to create and issue new shares to Mr Moshiri’s Blue Heaven Holdings Limited.
Commenting on the proposed arrangement, Neil Blankstone, Director of Blankstone Sington, said:
“The last traded price we matched buyer and seller at is £3,500 per share. With indications that the debt for equity may be priced at similar levels, we do not anticipate any material change.
“However, with in excess of 77% held by Farhad Moshiri’s investment vehicle, if he reaches in excess of 90%, then he may be compelled to consider a full takeover.”
Until further information has been attained about the deal, Blankstone Sington has suspended all attempts to match willing buyers and sellers for shares in the Company.
Anyone who has previously deposited share certificates and transfers to Blankstone Sington will have certificates returned in due course, whilst transfers will be destroyed.