Lions launch share issue

Last updated : 21 March 2006 By Charlie Roper
Millwall Holdings plc, the parent company behind The Lions, have launched a share issue with the aim of raising up to £9.6m of which £4.22m is guaranteed by way of a firm placing and an underwritten open offer.

Should the share issue be successful, it will hopefully reduce the club's debts and provide a much needed transfer kitty for next season, regardless of what division the club will find themselves in. Monies raised will also go towards chairman Peter de Savary's scheme of regenerating the surrounding area.

In a statement released late last night, the company stated that it is their ambition to "play successfully in the Premiership within five years; it is hoped to achieve this with an astute, realistic and sensible approach to football management and player selection."