Given the Glaizers announcement that they are placing 9.5M of their shares on the secondary market I thought it might be useful to clarify a few points :
ManUre "A" Shares ( 43.3M paid up and issued )
Same par value as the "B" shares i.e. $0.0005 or to put it another way 2000 to the $ ( see below ! )
Same Dividend as the "B" Shares (£10M in total -last accounting year - £24M previous year )
ONE vote per share ( against TEN for the "B" Shares )
These "A" shares are traded on the NASDAQ and the price ( varies minute to minute ) is the one quoted in these posts
The Glazers owned 5% of these A shares ( they have to convert their "B" shares to "A" shares to sell them )
60% of the "A" shares are owned by ( just ) 3 entities -Baron / Lindsell / Massachusetts
ManUre "B" Shares ( 119.7M paid up and issued )
Par value- as above
Dividend- as above
TEN Votes per share - the Glaizer Family wholly control the "B" shares and so retain almost total control
As above - to sell their "B" shares they must convert them to "A" shares ( and so diluting their voting power)
Sorry that this is so technical and I'm no expert but I add a few (personal) observations in the hope that I might generate a few more informed comments as to what the Glaizer's intentions might be ( bless them ! )
(1) The par value is crucial to understanding the Glaizers : their capital input into ManUre is a mammoth £59,000!
Man City Shares have a par value of £1 and the good Sheikh's capital input into Man City is £1,316,000,000 (Compare!)
(2) There really aren't many shareholders in ManU and one can assume that the above mentioned Baron/Lindsell work closely with the Glaizers to maintain the price. Who are Baron/Lindsell . To quote the last auditeds " almost 100% of the shares are owned by (just) 3375 US Shareholders"
(3) The share price - in truth, is of little significance in calculating the value of ManU PLC. The Company has a huge 3rd party debt burden ( unlike City ) and needs to spend a billion on a modern stadium. The value of the club is dependent on what someONE will pay for it. The Glaizers have considered "floating" ManU on the HongKong and the London stock market and ditched the idea. It will be interesting to see where the above mentioned 9.5M shares end up.
(4) Apparently Sheikh Mansour was put off buying Arsenal because their ownership was to complex... so what about ManUre... are they really that attractive a proposition.
Anyway, all too boring, but I hope a few better informed observers can add their thoughts.
Finally, referring to the Rag's last full accounts : they now have 1,100,000,000 supporters / followers ( based on 54000 responses !! )