Lincoln City Football Club will call a general meeting in order to propose two changes to our Company Articles.
In view of the ongoing significant investment into Lincoln City Football Club Company Limited, we believe it is now appropriate to issue shares at the same value as Lincoln City Holdings.
The proposed change will see the introduction of a new class of shares, which will enable Lincoln City Football Club in the future to also issue shares at a price lower than 50p per share which was only possible previously in Lincoln City Holdings.
If this change is approved by shareholders, supporters will also be given the opportunity until the end of the current season to purchase the new shares in Lincoln City Football Club Company Limited, at the same price at which key investors and directors are paying for shares issued in Lincoln City Holdings.
The second proposed change is a mandatory requirement of the EFL that requires all member clubs to have the right to refuse to transfer shares, which protects clubs against the possibility of a hostile takeover. A similar change is required to be made to the articles of Lincoln City Holdings Limited.
Lincoln City Football Club will call a general meeting of shareholders to approve these changes. Shareholders will receive email communication early this week giving notice of this meeting. Where the club has an email address for a shareholder this will be the preferred method of communication, unless shareholders have previously advised preference for postal communication.
Please direct any questions you have on this matter to companysecretary@theredimps.com.