Blades shares offered at 8.5p

SHARES in Sheffield United are being offered at 8.5p per ordinary share following the club’s recent de-listing of the company from the AIM stock market.

United has appointed JP Jenkins stockbrokers, which will offer existing and potential new shareholders the ability to sell or purchase shares in the club, following the move.

The club’s directors are to provide the liquidity for the facility for at least 12 months after de-listing by agreeing to provide a buyer of last resort.

The directors are offering to buy up to 500,000 shares per shareholder at the quarterly defined price, which was the mid-market price quoted on AIM at the close of business before the cancellation of the company’s listing was announced.

Last month United concluded it was no longer in the best interests of the company or its shareholders to continue trading on AIM and its shareholders approved the move private at its extraordinary general meeting on December 27.

Chairman Kevin McCabe has said that a de-listing would make it easier for the club to realise its ambitions, which include plans to expand further into non-football areas.