"It has been a convoluted legal process, however, it has been necessary for the Club to be registered as a plc in order to have a share issue to the public. It does not mean that we will be quoted on the Stock Exchange, however, we intend to arrange for a matched bargain facility for shareholders to trade shares in future.
"A prospectus that will formally make the Public Offer and set out the terms is now being worked on and it is anticipated that this will be circulated both to existing shareholders and the general public in late October/November.
"The backing of existing shareholders has been vital in enabling us to get to this stage and the Directors would like to thank them for their continued support. Now we can look forward to the share issue, which is the final component in the financial restructuring of the Club. Shares have not been available publicly in this way since 1936 and we hope that this new Public Offer will be well supported."