Motherwell FC prepares for further share transfer to Well Society
Barely a fortnight after the club's AGM, Motherwell shareholders are invited to attend a General Meeting on 25 March to facilitate the transfer of shares to the Well Society.
This will be the third meeting of shareholders in just over six months. Last August at a General Meeting it was agreed to alter the Articles of Association to enable a transfer of around 15% of the club to the fan owned Society.
At last month’s AGM there was no mention of the possibility of another meeting being called within the month but shareholders’ received their paperwork this week. The proposal for discussion would seem to allow for a much larger transfer of shares to the Society and the scale would potentially give the fans’ group control of the club.
No specific conditions on the number of shares nor the amount of investment needed is mentioned but a five year window will be opened for the transfer to take place. Of course, a future General Meeting could alter the arrangements.
No doubt the reasons for the recall of shareholders to the Millennium Suite will become clear on Monday 25 March.
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