Holdings Company File For Admin Again

Last updated : 17 December 2007 By Covsupport
Coventry City FC (Holdings Ltd) have again filed for administration.

This is purely a precautionary measure which has been done to protect the Holdings company from possible legal action from creditors whilst the deal for SISU to take over is completed.

SISU Capital using the company Sky Blue Sports And Leisure Ltd, bought 71.6 of the shares when the initial deal and today maintained their demand to all shareholders that they still require all shares to be transferred across to SISU Capital as part of the takeover process.

Anyone wishing to transfer shares can do so at the ground at the players entrance. However, they are advised to do so only after taking independant financial advice as you would with shares in any other company and doing some home work on SISU to ensure they know exactly what they are getting into.

As of this morning, SISU have not improved their offer of "all shareholders to receive a nominal amount for their acceptance of the acquisition and will be offered non-voting and non-participating class of shares, as well as a framed share certificate".