IRISH INCREASE SHARE HOLDING

Last updated : 08 October 2003 By Editor
A United statement to the Stock Exchange read:

'Manchester United has now been advised that the Cubic
Expression Company Limited has, as at October 7 2003, a
holding of 60,144,730 ordinary shares representing
approximately 23.15% of the issued share capital of
Manchester United.’

Oliver Houston, Shareholders United spokesman, is uneasy:

“This would appear to be a defensive purchase. These guys
are gamblers and currency speculators, so it is unlikely
they are looking to make a slow and steady return on their
investment over a 25-year period.

“If that were the case they would be better off putting
their money in a building society. They are perhaps hoping
that a full scale take-over bid will emerge, either from the
existing crop of large investors such as Malcolm Glazier,
who has close ties to Rupert Murdoch, or from elsewhere
abroad as has been mooted.

“They are looking to be well placed to make a killing if
that is the case. We are uneasy that anybody would use our
club to make a fast buck in such a way but that is the sad
reality of being a plc.

“Any such full scale takeover bid would have to take account
of the wishes and interests of the fans and supporter
shareholders or else it would be doomed to failure. Sugar
daddies get bored, die or go bust and it is not healthy to
have the fate of a 125-year-old community asset like
Manchester United resting with a single individual or entity
other than a supporters' trust.

“That's why United fans everywhere should join the trust now
and safeguard our club from exploitation and take-over by
those solely interested in short-term profit.”