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Thurs 30th Sep 1999 - £1/2 million investment imminent |
| September Headlines |
Chairman
Steve Borley will lead current City shareholders in investing over £1/2m into the
football club. A private share issue will be raised with Steve and two other directors
investing £100,000 each. Further share purchases by other current shareholders will swell
that fund past the £500,000 mark. The money will be available for team strengthening and
the club hope to announce a public share offer early next year to raise another £1/2
million to ensure the club can progrees in this division and hopefully beyond it. The opposition from Samesh Kumar has now wained and he will continue to be a City director. The boardroom atmosphere is far better now. This is great news for the doubters who think City will freefall back to the third division. I'd like to thank Steve and the board for their efforts, we've been waiting for a board like this for a long time. There are those that are whinging at the moment about the current results and failure to change a poor system etc. Just remember that the club did not expect promotion last season, they thought that this year we would be aiming to get out of the basement and then take two years to consolidate and try to progress from division 2. The revised plan for this year is to stay in division 2 and build a team for a serious challenge next season. From what I have seen this season we will be in no threat of relegation. Lets us as fans get behind the team, the manager and the board. You know it makes sense. |
Copyright Michael Morris 1999.
