Tottenham Hotspur Share Auction Sees Club Valued at c. £425 Million
LONDON, April 25, 2016 /PRNewswire/ --
Previously Locked-in Shareholders see Price Rise 21% in One Month
Premier League football club Tottenham Hotspur saw shares traded at their highest price and levels since the company delisted from AIM in 2012 in a share auction which closed at 4pm on Thursday 21st April. The auction, which was held by Asset Match, the online share trading marketplace for unquoted companies, saw £0.45 million worth of shares traded at 200p giving the club a market capitalisation of £426 million.
The shares achieved a 21% rise on the 165p price seen in the first auction held in March and a 400% increase on the 40p price tag on shares which were last traded before the company came off AIM, the London Stock Exchange's junior market, in 2012.
Stuart Lucas, Co-CEO of Asset Match, commented: "Spurs shareholders are starting to see and understand the benefit of an open, transparent and regulated forum. Word is clearly getting out to the 7,000 shareholders who have had virtually no liquidity in the last five years. In this second auction we have seen a more than ten-fold increase in volume of shares traded and many more participants looking to buy or sell shares."
Asset Match started auctions in Tottenham Hotspur shares in response to a number of enquiries from frustrated individuals who were unable to trade their shares through the club's existing 'match bargain service'. In share auctions, the price of shares is determined by the market forces of the buyers and sellers. There are no middlemen for shareholders to negotiate with and once the sale price is agreed, it's the same for both parties.
Stuart Lucas added: "Based on the success of this latest auction we are planning to the start the next one soon with it closing at 4pm on 19th May. Our belief is that we are also helping to consolidate Spurs' shareholder register which will make it much easier to manage."
Tottenham Hotspur has over 30,000 shareholders, of which more than 15,000 own just one ordinary share each. The club is majority owned by Daniel Levy and Joe Lewis who together control approximately 85% of the shares in issue.
Asset Match hosts regular auctions on behalf of companies or at the request of their shareholders. Unquoted companies that have had their shares traded on Asset Match include the UK's leading IFA wrap service company, Integrafin, Scottish craft brewery, Brewdog and the Co-Operative Bank.
For further information about the Asset Match Tottenham Hotspur share auction, terms and conditions and fees please visit http://www.assetmatch.com.
About Asset Match:
Asset Match is an online hub that brings buyers and sellers of shares in private companies together. The service provides a transparent and fair mechanism to determine the price of shares through regular online auctions. It delivers an efficient way for shareholders to exit and realise the value of their assets and gives sophisticated investors opportunities to invest in growth or more established private companies. Companies are able to use the service to provide liquidity in their shares whilst remaining private entities and also as a means to raise further funds. The service works by conducting regular online auctions of shares in private companies to concentrate trading activity. The optimum price for shares being bought and sold is achieved dynamically, rather than simply matching buyers and sellers at a pre-determined price. This creates fairness and transparency in share transactions.
Asset Match is authorised and regulated by the Financial Conduct Authority in the United Kingdom, and adheres to all Best Practice standards.
For further information please contact:
Stuart Lucas, founder and co-CEO, Asset Match
stuart.lucas@assetmatch.com
+44 (0) 207 248 2788 or +44 (0) 7768 645 454
Twitter: @assetmatch
Asset Match's PR Consultancy, Eureka Communications
Teresa Horscroft/Ariane Comstive
assetmatch@eurekacomms.co.uk
+44 (0)1420 564346 /+44 (0)7990 520390 (Teresa Horscroft)
+44 (0)7785 922 354 (Ariane Comstive)
Share this article