Rochdale AFC takeover: Ogden Family bid statement in full after preferred investor announcement
Rochdale AFC news as The Ogden Family release official statement confirming their plan to buy shares in the club after being named preferred investor
The family was named as the preferred bidder last month. Sir Peter Ogden is a local businessman and entrepreneur. The Ogden foundation, a charitable foundation established by Lady Ogden, who was also born in Rochdale, and her family have now made their offer public.
According to a statement from the Ogden family posted on the club website, “We will be investing up to £2m (including funds already advanced to the club) to acquire up to 6,857,143 newly issued A Ordinary shares.” “This would equate to a c. [circa] 68 per cent ownership stake in the club.”
The statement continues, saying that “the Rochdale AFC Community Trust (RAFC Community Trust) will be the exclusive beneficiary of any financial value realised in relation to these shares.”
“We will implement a ‘golden share,’ which would be held by the Dale Trust, in accordance with the recommendations of the Fan Led Review. Any modifications to the club’s name, colours, or emblem, as well as any sales of the club’s property, would need the approval of the golden shareholder.
“A requirement of our offer is the exchange of current shareholder loans, totaling about £625,000 from Simon Gauge and Richard Knight, for new A Ordinary shares at the same price as our investment. The shares that were acquired in return for this debt would amount to a 21.4% ownership position in the club.”
After a time of exclusivity with World Soccer Holdings LLC expired, the Ogden family expressed interest in the club. Their trust ‘exists to promote the teaching and understanding of physics’.
Leave a Reply