Who Owns Manchester City Plc?
It is some time since we started our planning and research. Our research lead us to many areas of interest including looking at the shareholdings in Manchester City Plc. We have now finished our review and we’ll share with you our findings here.
The information we are about to provide was taken from an old share register and having taken a look at the trades since it is unlikely that the share register has changed materially so for the purposes of this article we feel that the information we have is adequate.
The first four shareholders are well known to most Manchester City supporters and they own (together) 65.71% of the shares. Those four are John Wardle & David Makin who own 29.95%, the Trustees of the S E Boler Settlement (a trust set up by Stephen Boler) who own 18.75%, BSkyB which owns 9.88% and Francis Lee who owns 7.13%.
The next ten shareholders (held in individual and nominee names) own 13.38%. In that list includes the late Peter Swales' wife Brenda together with ex-directors David Holt, John Dunkerley and David Bernstein.
The remaining shareholders number over 5,000 (we are lead to believe that this figure may be over 6,000 now) and they hold the remaining 20.9% of the issued shares.
So who represents BSkyB and/ or Francis Lee? That’s a good question it would appear from the information available that nobody on the board represents these shareholdings. What about the remaining 34.29% of the shares? Well they too appear not to be represented on the board.
So in summary, it would appear from our research that only 48.7% of the shareholders are represented on the board of Manchester City Plc with the majority of shareholders not represented.
We must make it clear that for the purpose of this article we did not include Alistair Mackintosh, Dennis Tueart or Bryan Bodek’s shareholdings as being represented on the board and their total shareholding of 55,358 shares represents only 0.1% of the issued shares.
During our research we did come across some interesting information taken from the accounts. As at 31 May 1998 Dennis Tueart owned 9,800 shares and as at 31 May 2006 he owned 36,258 shares. As at 31 May 2000 Alistair Mackintosh owned 9,100 shares and as at 31 May 2006 he still owned 9,100 shares. As at 31 May 2002 Bryan Bodek owned 10,000 shares and as at 31 May 2006 he still owned 10,000 shares.
Why the board, with the exception of John Wardle and David Makin, haven't added to their share holdings over the last few years or so can only be answered by those board members themselves. However, what message that puts out to the current shareholders, the supporters and perhaps critically potential investors is another matter.