PLYMOUTH Argyle Chairman and majority shareholder Simon Hallett has invested a further £1.5m into the club.
Simon’s additional investment sees him purchase another 1.5m £1 shares in the club. This takes his total shareholding to 17,220,768 shares, or 97.19% of the company.
Simon, a partner and co-chief investment officer at an American-based investment management firm at Harding Loevner, is a Plymouth College graduate. He became an Argyle director in April 2016, when he acquired a nearly 30% shareholding.
Since then, the increases in his shareholdings have, among others, helped to finance the 2016 repurchase of Argyle’s stadium and the planned repurchase of part of Higher Home Park.
The latest cash injection was provided in order to cover several one-off Mayflower Grandstand-related costs, ensuring a sufficient cash balance was available until the end of the current budgeting period. The club remains committed to working towards a position of financial sustainability in the near future.
Thank you, Simon.