Sir John Hall to make Money from Newcastle

By Matthew Jones
June 10 2003

Former Newcastle United chairman Sir John Hall is planning to sell 11.4 per cent of his stake in the club. Former Newcastle United chairman Sir John Hall is planning to sell off 11.4 per cent of his stake in the club.

TRIBALFOOTBALL.COM REPORTED:

"Sir John remains Newcastle's major shareholder and will sell the shares for a knockdown £4.5 million, with reports claiming his property development company, Cameron Hall Developments, has hit tough times..

Newcastle United is buying back the shares at a significant discount to the current price from Sir John who will then immediately loan the club half of the cash he receives.

Sir John is selling 16.6 million shares in Newcastle, or an 11.4 per cent stake, for £4.5 million - or 27.1p a share. That is a discount of 21 per cent to Friday's closing share price.

He will then loan Newcastle United £2.25 million - a sum that is repayable by the club on the first anniversary of completion of the buy-back by Newcastle United. "

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