Post by Macmoish on Dec 17, 2010 14:10:19 GMT
Millwall Official Site
GM vote slashes debt
Posted on: Fri 17 Dec 2010
Chairman John Berylson's company, Chestnut Hill Ventures, took their shareholding in Millwall to 70% after shareholders approved the Open Offer of new shares at the Company AGM on Friday 17th December.
The initiative was taken with a view to raising up to £11.3million which will make a significant impact in terms of the reduction of the football club's debt and providing finance to continue to fund the club.
Commenting after the meeting John Berylson said: "A year ago we vowed to put the company and the club on a much firmer financial footing, and that is what we've now done.
The company debt had got up to around £14m, and now it is reduced significantly.
All that remaining debt is held by my company, CHV, so there is no debt outside the club which could potentially threaten it.
The key issue was to make it clear that Millwall is not a financial weakling and that we go forward without having to look over our shoulders in terms of the finances of the club, which gives us a strong platform on which to build."
A full interview with John Berylson can be viewed on Lions Player and further details about the AGM can be found at www.millwallholdingsplc.co.uk/an_17_dec_2010.htm
www.millwallfc.co.uk/page/NewsDetail/0,,10367~2246478,00.html
GM vote slashes debt
Posted on: Fri 17 Dec 2010
Chairman John Berylson's company, Chestnut Hill Ventures, took their shareholding in Millwall to 70% after shareholders approved the Open Offer of new shares at the Company AGM on Friday 17th December.
The initiative was taken with a view to raising up to £11.3million which will make a significant impact in terms of the reduction of the football club's debt and providing finance to continue to fund the club.
Commenting after the meeting John Berylson said: "A year ago we vowed to put the company and the club on a much firmer financial footing, and that is what we've now done.
The company debt had got up to around £14m, and now it is reduced significantly.
All that remaining debt is held by my company, CHV, so there is no debt outside the club which could potentially threaten it.
The key issue was to make it clear that Millwall is not a financial weakling and that we go forward without having to look over our shoulders in terms of the finances of the club, which gives us a strong platform on which to build."
A full interview with John Berylson can be viewed on Lions Player and further details about the AGM can be found at www.millwallholdingsplc.co.uk/an_17_dec_2010.htm
www.millwallfc.co.uk/page/NewsDetail/0,,10367~2246478,00.html