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Re: A rough guide to Morgan's proposals
The way I see it is this is a takeover bid by Morgan - Moores has to invest £31m to maintain a stake of 46% (it's impossible for him to stay at 51% under the scheme). If he puts in nothing his stake drops to 23% and Morgan is guaranteed to be the largest shareholder.
Of course this may be no bad thing if you want Morgan in the boardroom (he talks a lot of sense). And the club gets an injection of capital under this scheme however the Morgan/Moores ratio ends up.
Does Moores stick or twist?
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