Northampton Saints Set to Sell Shares
By Community | September 18, 2012
Northampton Saints plc, the parent company of Aviva Premiership Rugby Club Northampton Saints, have announced their decision to sell shares presently owned by the Trustees’ of the Members Club to the general public during its Annual General Meeting (AGM).
The sale of shares has been approved by supporters who provided their unanimous approval for the sale of half a million ordinary 50 p shares in Northampton Saints plc.
The shares had been held in the supporters’ trust since the club became a plc in 2000 and the proceeds raised from the sale of the shares would be utilised towards initial construction costs of the new North Stand at Franklin’s Gardens.
The shares will be available at a price of £1 per share with supporters being given the option of acquiring multiples of 50 shares up and above a minimum transaction of 250.
Northampton Saints chief executive Allan Robson says that the investment which will come from the share sale will be vital as the club continues to grow and maintain its place at the top of English rugby.
“We are progressing well with our plans to develop Franklin’s Gardens, and this share sale will help ensure that the stadium remains the best of its kind in the country,” he said.
“The sale will ensure supporters continue to have a tangible stake in the club as a whole, and the new North Stand in particular.
“Success breeds success, and by helping the club develop the stadium without incurring debt the supporters who take part in the share sale will have enabled us to continue the high levels of investment that have been made into making Northampton Saints one of the top sides in England.”