Belfast Telegraph

Glens shareholders to cast vote on prosperous takeover proposal

 

By Graham Luney

Glentoran shareholders are tonight expected to confirm their backing to a proposed takeover of the club.

There will be a vote at an Extraordinary General Meeting this evening, in a meeting dubbed one of the most significant in the club's recent history.

An offer from British-Iranian businessman Ali Shams Mohammad Pour to buy the club has been tabled and it's set to include investment of more than £1million, sparking a restructure of the east Belfast club.

Manager Mick McDermott and coach Paul Millar have replaced former boss Gary Smyth and coach Paul Leeman and now a 'substantial financial investment' is expected to follow when the consortium is backed.

The takeover will need the approval of 75% of the shareholders in attendance.

Glens chairman Stephen Henderson said: "At the EGM, it will be outlined to shareholders the investment proposition and what this could mean for the Club, before seeking their approval to proceed with the investment."

The club has been reducing historic debts and the welcome investment is expected to secure it's financial future.

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"This proposed investment presents a real vote of confidence in Glentoran and its enormous potential to become Northern Ireland's leading football club," added Henderson.

McDermott, former Glenavon coach Millar, businessman Pour and Irish chartered accountant Mark Glenfield are the four listed officers of the East (NO1) Limited company that has made an offer for Glentoran's assets.

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