Hemmings Reaches Magical Figure
Trevor Hemmings has now purchased 90% of the club's shares which is the mark needed for him to force a compulsory buyout of the remaining shares. DPNE, the investment company run by Hemmings reached the 90% mark this morning when it was announced on the stock market. This landmark means that Hemmings can now force all remaining shareholders to sell their shares at the 5p offer. The standard offfer stands until 8 September after which date, Hemmings will under stock market rules be able to buy the remaining shares in any event. He is then set to de-list the company from the AIM.
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