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Ashley nears complete Toon buy-out

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Billionaire businessman Mike Ashley is on the verge of completing his buy-out of Newcastle after increasing his share in the company.

In a statement to the Stock Exchange, Ashley´s takeover vehicle St James´ Holding Limited (SJHL) revealed they owned, controlled or had received valid acceptances in respect of a total of 124,043,657 Newcastle United shares, representing approximately 93.19% of the existing issued share capital of the club.

That puts Ashley on the brink of being able to compulsorily purchase the remaining shares and so de-list the Magpies from the Stock Exchange.

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