Yorkshire Post 9/8/13 - Leeds chairman increases stake in club
by Phil Hay
LEEDS UNITED chairman Salah Nooruddin has increased his stake in the Elland Road club to more than 10 per cent.
An ownership statement published by United on their official website yesterday revealed that Nooruddin and his wife now control the shareholding through a jointly-owned firm called Envest Limited. Nooruddin – the Bahraini businessman who replaced Ken Bates as Leeds’ chairman on July 1 – originally purchased a 3.33 per cent stake when he joined United’s board in April this year.
But his equity has more than doubled, leaving Envest Limited, GFH Capital and Bahrain’s International Investment Bank (IIB) as the three parties with more than 10 per cent of shares in Leeds United’s parent company, Leeds City Holdings Limited.
GFH Capital has not as yet explained the change but the company said it still controlled a majority stake in the Leeds club as it has since its takeover in December of last year.
An ownership statement published by United on their official website yesterday revealed that Nooruddin and his wife now control the shareholding through a jointly-owned firm called Envest Limited. Nooruddin – the Bahraini businessman who replaced Ken Bates as Leeds’ chairman on July 1 – originally purchased a 3.33 per cent stake when he joined United’s board in April this year.
But his equity has more than doubled, leaving Envest Limited, GFH Capital and Bahrain’s International Investment Bank (IIB) as the three parties with more than 10 per cent of shares in Leeds United’s parent company, Leeds City Holdings Limited.
GFH Capital has not as yet explained the change but the company said it still controlled a majority stake in the Leeds club as it has since its takeover in December of last year.