Sandy Easdale has taken his personal stake in Sevco upto 5.21%.
Easdale, who served a jail sentence in the nineties for VAT fraud, has been at the centre of predictable ‘fans fury’ over his stake in the club.
Over the last ten days he has been pictured with controversial banker Rafat Rizvi and been on the end of calls for his resignation from various supporter groups.
While they howled at the moon big Sandy put his hand in his pocket to purchase the shares needed to meet this week’s September payroll.
A statement this morning to the Alternative Investment Market said: “The Company announces that it was notified yesterday that further to the Company’s Open Offer, Alexander Easdale purchased 1,242,110 ordinary shares of 1 penny each in the Company (“Ordinary Shares”) at a price of 20p per share on 12 September 2014. As a result, Mr Easdale now holds 4,242,110 Ordinary Shares in the Company, equal to 5.21% of the issued share capital of the Company.
“Mr Easdale also holds voting rights over, but does not own, a further 17,062,395 Ordinary Shares, representing 20.94% of the Company, meaning that in total he holds voting rights over 21,304,505 Ordinary Shares, representing 26.15% of the issued share capital of the Company.”
Easdale is behind the booming Greenock based transport giant McGill Buses having built up his empire in the security and taxi business after emerging from prison.
With the backing of others such as Blue Pitch Holdings and Margarita Holdings he is effectively running the show at the club where his brother James sits on the board of the football club.
Despite the investment of over £3m in shares there has been no announcement that Mr George Letham has had his £1m emergency loan repaid.
The club has still to publish it’s audited accounts for the year to 30 June 2014 with no date set for the Annual General Meeting.