Having regard to the statement of the Trust in December 2015, the position has been reached whereby during the current season 2016/17…
Having regard to the statement of the Trust in December 2015, the position has been reached whereby during the current season 2016/17, the intended further investment of Sportsvest and possibly others, will result in the dilution of the Trust shareholding within Lincoln City Holdings Limited to below 20% of the total shares in issue.
This was the level previously set whereby the Trust, along with others holding more than 20%, would retain an effective veto on further investment. It was agreed at the time that whilst the veto was important in order to gauge the impact of the initial tranche of investment within the club, it would only be activated when it was felt to be in the best interests of Lincoln City Football Club and not based on the speciﬁc priorities of the Red Imps Community Trust. It is the Trust Boards unanimous position that on all available evidence the Sportsvest investment within the Club has been very positive for Lincoln City both on and off the pitch.
In view of this the Board are not intending to veto the planned further substantial investment and accept that the existing individual effective block will therefore lapse, however remains in place if more than 20% of shareholders vote together. If any member has strong views to the contrary or simply wishes to conﬁrm support for this position please feel free to advise accordingly.
You can discuss this Statement on 100% Imps RIGHT HERE!