This maybe of interest to you http://english.mubasher.info/BSE/ne...692-8-mln-on-Murabaha-conversion-transactions Basically says (for those that don't know the financial jargon) that GFH have received 2 payments of $5.2M (£3.3M) for paid up capital (shares). Could be Leeds related, or could be something different - fact that its 2 different transactions for the same value would imply that they've sold something and the fact that it was in the form of shares gets you thinking eh?
nb - A morahaba converting transaction is where the owner (GFH) would sell the shares with a mark-up (usually 10%) and agree in principal the value the shares will re-sell for at a given time - The $5.5M would be £3M + 10% - baring in mind they sold 10% for £2M, I would wager they have just sold another 30%
Ive not read this story anywhere else,bloody good work if its true lads.Fingers crossed we've raised a few quid for BMs transfer budget.
I am thinking this is GFH parent company of GFH that owns the club. I could be wrong, but if not, the holding company's transactions may not have any impact on Leeds United.
