Background to letters issued to shareholders

Yesterday at 10:37 AM

Letters have started to be issued to shareholders about a new issue of shares in CFC 2001 Ltd. This issue of B ordinary shares will provide a contingency in case of the need for additional funds around the SMH Group Stadium, Erwin Training Ground or playing squad. Phil Kirk already holds a 75% majority of shares, and this will allow him to put a further £2m into the football club as it needed. Shares will be issued to him or his family accordingly. This method is in line with football finance regulations. As with share issue to the Trust in 2021 and that to Phil Kirk in 2023, this will effectively dilute individuals' shareholding. There is no rights issue this time to allow other shareholders to purchase. The remaining 1,563 shareholders will still retain all their rights to participate in meetings and votes but will be part of a stronger, and we hope, more successful Chesterfield Football Club. All shareholders are entitled to vote in line with the instructions in the letter.