Rights Issue exceeds expectations

08 December 2000

The Rights Issue looks to have been a major success, with a total of 39,053 shares having been applied for at a total cost of £2.7 million - well over the £1.5 million that the Board expected it to raise. In the issue documents, it was said that any money raised above the expected amount would be given to the manager for team strengthening - so Megson can now count on seeing whatever transfer funds he has available at present, believed to be over a million, almost doubled - at a time when he is looking to fill a number of gaps in the squad.

Meanwhile, the Club continue to make progress with the signing of Slovakian International wing back Igor Balis, with the only outstanding issue of concern surrounding his work permit. Megson has insisted that the signing of Stoke City midfielder James O'Connor is now "dead" - but whether the new influx of funds has any bearing on the issue remains to be seen...

Previous Stories:

  05 December 2000:  Another Scandinavian keeper?

  05 December 2000:  Santos to return?

  05 December 2000:  Megson contract shock!

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