London Irish became the first of the 12 Premier Rugby clubs to have its shares admitted to trading on ShareMark on 28th October 2005.
Shares in London Irish Holdings Limited, the holding company of the Premiership rugby club, can be traded on ShareMark, the auction based market designed for small to medium-sized companies from today. Joining ShareMark will enable the club to develop its shareholder base and facilitate cost-effective dealing for investors.
Announcing the new arrangement, Brendan Mullin, Chairman of London Irish, said: 'This is another important step in developing the club. We are pleased to be joining such an innovative market which enables our current shareholders to trade more easily while providing access for new investors including the many thousands of London Irish supporters in this country and overseas.'
Anyone interested will be able to buy and sell London Irish shares via ShareMark. The first auction will take place on 2nd December 2005, with monthly auctions on the first Friday of every month thereafter. Sharemark can be contacted as follows: telephone 0800 800 008 or via the internet at www.sharemark.co.uk or by post at The Share Centre, PO Box 2000, Aylesbury, Bucks HP21 8ZB.
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Notes
1. ShareMark (www.sharemark.co.uk) is a trading division of The Share Centre Ltd one of the UK's largest independent stockbrokers. Launched in June 2000, ShareMark is designed to trade smaller company shares or loan stock, providing existing investors with an exit route and valuation mechanism, and if required the opportunity to introduce new shareholders. By using an auction process, ShareMark enables a single price for dealing, thus overcoming the wide bid/offer spreads so commonly associated with less liquid stocks. Auctions can be held on a weekly, monthly, or quarterly basis, depending on the expected trading volumes.
2. The securities traded on ShareMark may not be listed and will tend to have a higher investment risk attached to them than larger companies. It may be difficult for investors to buy and sell those shares and obtain reliable information about their value or the extent of the risks to which the share price is exposed. The share price may be subject to sudden and large falls in value given the restricted marketability of the shares. Investors may get back less than their initial investment.
3. The ShareMark dealing facility is operated by The Share Centre Ltd. The Share Centre is a member firm of the London Stock Exchange and is authorised and regulated by the Financial Services Authority. ShareMark is not a recognised investment exchange, recognised clearing house or regulated market within the meaning of the Investment Services Directive. The ShareMark dealing facilities constitute an Alternative Trading System.
4. This document should not be regarded as a solicitation or a recommendation to buy, sell or subscribe to any investment product or service.
5. ShareMark is a registered Trademark.
Risk Warning:
This document is not intended to constitute an offer or agreement to buy or sell investments and does not constitute a personal recommendation. The investments and services referred to in this document may not be suitable for every investor and if in doubt independent financial advice should be sought. No liability is accepted whatsoever for any loss howsoever arising from any information in this document subject to the rules of the Financial Services Authority or the Financial Services and Markets Act 2000. Share prices, values and income can go down as well as up and investors may get back less than their initial investment.