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Sport

Directors of Gillingham Football Club propose the passing of resolutions to help with potential investment

By: Luke Cawdell lcawdell@thekmgroup.co.uk

Published: 00:00, 10 December 2022

Updated: 10:13, 10 December 2022

Gillingham’s directors are encouraging the club’s shareholders to back changes that could make investment more likely.

Shareholders have been asked to vote on making changes to the ‘Articles of Association of the Company’ - just days after documents filed with Companies House confirmed that Priestfield Stadium was being used as security for an investment by American businessman Brad Galinson.

Gillingham chairman Paul Scally and the club's directors encourage shareholders to pass special resolutions

Mr Galinson has been rumoured for some time to have been keen on investing, or possibly even taking over the running of the club. Paul Scally has been at the helm since 1995.

The latest off-field movement saw the club make an appeal to their shareholders, with the directors proposing that two resolutions are passed.

The club said: “The directors propose that the resolutions are passed because they may have an opportunity to secure investment into the club for shares.

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“The alterations to the Articles of Association made by the resolutions will enable the directors to take up such opportunity should such occur, and to take up any further opportunities for cash investments into the club which may arise in the future.”

GFC Holdings have just over 75% of the club’s shares (35,257,700 ordinary shares from a total of 47,005,127), a holding company for the club of which Mr Scally is the sole director.

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