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Manchester, England, February 20, 2024–(BUSINESS WIRE)–Trawlers Limited, a wholly-owned entity between Manchester United plc (NYSE:MANU) and Sir Jim Ratcliffe, has established a joint venture between Manchester United plc (NYSE:MANU) and Sir Jim Ratcliffe, with Sir Jim Ratcliffe owning a 25% class of shares in the club. announced that it has completed the acquisition of After meeting all conditions, including approval from the Football Association and the Premier League, it will acquire B shares and 25% of the club’s Class A shares.
Trollers Limited’s tender offer (the “Offering”) for up to 25% of its Class A Shares at a price of $33.00 per share expires shortly after 11:59 p.m. Eastern Time on February 16, 2024. Ta. Following the expiration, Trollers Limited accepted payment for 13,237,834 Class A Shares validly tendered (and not validly withdrawn) in the Offer. This represents 25% of the total number of Class A Shares outstanding at the time of expiration. His Computershare Trust Company NA, the trustee of the purchase, has advised that the pro rata percentage of the purchase is approximately 26.2%.
Following the completion of the Offer and the acquisition of the Class B Shares, Sir Jim will invest $200 million in the Club to obtain additional Class A and Class B Shares through a primary issue, resulting in approximately $200 million of the Club’s Class A Shares. The company ended up owning 27.7%. These funds are intended to enable future investment in Old Trafford’s infrastructure.
Sir Jim Ratcliffe said: “Becoming part-owner of Manchester United is a great honor and comes with a great responsibility. This means completing the deal, but it is also a great opportunity to take Manchester United back to the top of England’s league. This is just the beginning of our journey: a world-class facility for European and world football and fans. Our efforts to achieve these goals will accelerate from today.”
Executive co-chairman Joel Glazer said: “We welcome Sir Jim as co-owner and look forward to working closely with him and INEOS Sport to deliver a bright future for Manchester United.”
About Manchester United
Manchester United is one of the most popular and successful sports teams in the world and plays one of the most popular spectator sports on the planet. Through 146 years of football heritage, we have won 67 trophies and developed one of the world’s leading sports and entertainment brands with a global community of 1.1 billion fans and followers. . Our large, passionate and engaged fan base provides Manchester United with a worldwide network that generates significant revenue from multiple sources including sponsorship, merchandising, product licensing, broadcasting and match day engagement. We provide a platform that directly funds continued reinvestment into the club. .
Cautionary Note Regarding Forward-Looking Statements
This press release contains, without limitation, statements about the beliefs and expectations of Manchester United and Sir Jim Ratcliffe (together with the Trollers Limited, the “Proponent”) and the benefits that Manchester United seeks to achieve. Contains “forward-looking statements.” the potential impact of the transactions discussed herein, and any completed transactions, on both Manchester United and the Offeror; In some cases, forward-looking statements include words such as “believes,” “may,” “will,” “should,” “anticipates,” “goals,” “strategies,” and “potentially.” , may be identified by terms such as “estimate.” “Continue,” “anticipate,” “intend,” “could,” “will,” “project,” “project,” “expect,” “seek,” and similar expressions and variations thereof. . These words are intended to identify forward-looking statements. Although these forward-looking statements are based on current expectations and predictions about future events, there can be no assurance that such expectations or predictions will prove to be accurate in the future. All statements other than statements of historical fact are forward-looking statements. Actual results may differ materially from current expectations due to a number of factors. These factors are discussed in Manchester United’s Registration Statement on Form F-1, as amended (File No. 333-182535) and Manchester United’s Annual Report on Form 20-F (File No. 001-35627) Manchester -Supplemented by risk factors contained in United’s other filings with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Except as required by law, Manchester United and the Offeror do not intend to make any forward-looking statements after the date of this document in order to conform the forward-looking statements to actual results or revised expectations. We are under no obligation to publicly announce any revisions to the statement.
View source version on businesswire.com. https://www.businesswire.com/news/home/20240220946628/ja/
contact address
PR for investors:
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Head of Investor Relations
+44 738 491 0828
Corinna.Freedman@manutd.co.uk
Media contact point:
andrew ward
Director of Media Relations and Public Relations
+44 161 676 7770
andrew.ward@manutd.co.uk
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