West Ham could possibly announce the conclusion of the first round of pre-exemption rights for the Gold family shares.
Please note this article is not written by EXWHUEmployee but a well informed journalist:
The deadline for pre-exemption rights for Gold Family shares round one reaches its conclusion at 5pm this evening.
Daniel Kretinsky is already classified as a person with significant control with 27% which requires disclosure to companies’ houses within 14 days.
The process is probably being run at arms length by West Ham’s club secretary Andrew Pincher.
No-one seems to know the outcome of the first round but the most likely scenario is Daniel Kretinsky exercising his right to purchase a further 9% taking him to 36%.
David Sullivan, Tripp Smith and others are not thought to have exercised their rights.
Kretinsky’s sale of around 2.2% of his current shares is happening in a parallel process with fellow Czech businessman Jakub Havrlant the likely victor.
This in turn would reduce his shareholding from 36% to 33.8%. Round two in theory would start tomorrow giving anyone exercising their rights in round one the opportunity to purchase remaining shares.
If Daniel Kretinksy is confirmed as the only person to exercise his rights in round one it would give him the option to acquire the remaining 16.1% taking taking him to 49.9%
It is not know whether the club will make an announcement this evening with a club source advising ‘lets see’ but some type of generic statement is probable.
