General

12/03/2021

MUST response to Glazer sale of 5 million Manchester United shares

MUST response to Glazer sale of 5 million Manchester United shares

On balance MUST welcomes this announcement of the sale of shares as a further small step towards a more diversified ownership model. Ultimately this is the Glazer family relinquishing some of its control, albeit in a relatively limited way. For those of us who want a change in ownership model, the Glazer family selling shares is the only way this can happen. 

The downside of this move is that the shares being sold have inferior voting rights and the proceeds from the sale will not go into the club.


We believe there is an alternative model that would allow fans to buy shares in a way that would benefit Manchester United and, in the long term, give supporters genuine influence. That requires a recognition of the special status of fan shareholders. In order to optimise the appeal to fans and maximise their participation in future share ownership we believe parity of voting rights, along with a direct benefit for the club by generating new funds to strengthen Manchester United both on and off the pitch, are key elements which need consideration.

MUST will continue to campaign and engage with the aim of achieving this goal.


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M.U.S.T - the Manchester United Supporters Trust
Web: www.imust.org.uk
Twitter: @MU_ST
  

 

 

MANCHESTER UNITED PLC ANNOUNCES OFFERING OF CLASS A ORDINARY SHARES BY THE SELLING SHAREHOLDER

Released : 03/11/2021

MANCHESTER, England--(BUSINESS WIRE)-- Manchester United plc (“Manchester United”) today announced the offering of 5,000,000 of its Class A Ordinary Shares by the Avram Glazer Irrevocable Exempt Trust (the “Selling Shareholder”). Manchester United will not receive any proceeds from the sale of any Class A Ordinary Shares by the Selling Shareholder. The offering is expected to close on March 16, 2021, subject to customary closing conditions. The Class A Ordinary Shares are listed on the New York Stock Exchange (the “NYSE”) under the symbol “MANU.”

The sole underwriter for this offering is J.P. Morgan.

The underwriter proposes to offer the sharesof common stock from time to time for sale in one or more transactions on the NYSE, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.

This offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on Form F-3. The securities will be offered only by means of a prospectus and an accompanying prospectus supplement forming a part of the effective registration statement. Prospective investors should read the prospectus in that registration statement, the preliminary prospectus supplement and other documents that Manchester United has filed with the SEC for more complete information about Manchester United and the offering.

Copies of the prospectus and accompanying preliminary prospectus supplement related to the offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewater, NY 11717, Phone: 866-803-9204.

You may also obtain these documents for free by visiting the Securities and Exchange Commission's website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

In the United Kingdom, this announcement is only directed at, and any investment or investment activity to which this announcement relates is only available to, and will be engaged in only with, investment professionals falling within Article 19(5), or high net worth entities falling within Article 49(2), of the Financial Services and Markets Act (Financial Promotion) Order 2005 or other persons to whom such investment or investment activity may lawfully be made available (together “relevant persons”). Persons who are not relevant persons should not take any action on the basis of this announcement and should not act or rely on it.

About Manchester United

Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. Through our 143-year football heritage we have won 66 trophies, enabling us to develop what we believe is one of the world’s leading sports and entertainment brands with a global community of 1.1 billion fans and followers. Our large, passionate and highly engaged fan base provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, broadcasting and matchday initiatives which in turn, directly fund our ability to continuously reinvest in the club.


 
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