It appears as if our opponents on Saturday are now 8% owned by all of us. Behind a pay wall on the Telegraph. Short of it is that Bolton took out a £5m loan from British Buiseness Bank, a covid support scheme. They have now converted this loan to shares, a common practice under the scheme, hence the equity we all now own. The " Future Fund" used for this transaction was set up for "innovative companies who relied on equity purchase for growth". Eh? Don't know if they are the only ones, but it doesn't sound right to me.
Answer from a mate who knows his facts and figures .... .... Odd one. I suppose they could argue that after administration they were a new company and needed capital to rebuild the club, but it does look like stretching the rules to breaking point.
Yep. It was a year after the last ditch deal, and stretching the point is about it. I know nothing of these people who took them over, but this would not inspire confidence if it were us.
