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Saturday, June 16, 2007 - - Exclusive
St. James Holding Completed 77% Newcastle’s Stakes

Ashley

English businessman Mike Ashley increased his stake in Newcastle to 77 percent Friday to take financial control of the Premier League club. Later Ashley will apply for the cancellation of trading in Newcastle United’s shares -- expected by July 18 and revert it to private ownership again.



Ashley, who launched his buyout a little more than three weeks ago, announced in a statement to the Stock Exchange that he had either bought or received valid acceptances for 77.06 percent of the total shares. After has passed the 75 percent threshold, he is now in a position to complete a full takeover of the Magpies, and will begin his work to make Newcastle United Football Club a new European elite club.

If he buys reach at least 90 percent, Ashley is entitled to compulsorily buy the remaining shares and will have the complete control to the club with a huge fan base but have not won the league title since 1927 or the FA Cup since 1955.
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