This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/uk-scotland-scotland-business-19345615#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
Canadian pension fund fails in bid for Goals Soccer Centres | Canadian pension fund fails in bid for Goals Soccer Centres |
(40 minutes later) | |
One of Canada's biggest pension funds has failed in its bid to take over Goals Soccer Centres after a vote on the move failed to attract enough support from shareholders. | One of Canada's biggest pension funds has failed in its bid to take over Goals Soccer Centres after a vote on the move failed to attract enough support from shareholders. |
The board of East Kilbride-based Goals had accepted a £73.1m bid from the Ontario Teachers' Pension Plan. | The board of East Kilbride-based Goals had accepted a £73.1m bid from the Ontario Teachers' Pension Plan. |
But a vote by independent Goals shareholders failed to muster enough votes to clear the offer. | But a vote by independent Goals shareholders failed to muster enough votes to clear the offer. |
A total of 71.4% of votes cast backed the move - short of the 75% required. | A total of 71.4% of votes cast backed the move - short of the 75% required. |
Goals non-executive chairman Sir Rodney Walker commented: "Following the result of today's court meeting, the non-executive directors and executive management will continue to focus on delivering the group's strategy of delivering a best-in-class five-a-side football experience to customers in the UK and beyond." | Goals non-executive chairman Sir Rodney Walker commented: "Following the result of today's court meeting, the non-executive directors and executive management will continue to focus on delivering the group's strategy of delivering a best-in-class five-a-side football experience to customers in the UK and beyond." |
The company also confirmed it was not in discussions with any other party regarding a potential offer for the company. | |
A source close to Goals said: "It's slightly disappointing for the board, but this showed there's enough shareholders who believe the company's worth more than the bid that was put on the table. | |
"The management are now focused on the strategy they always had." | |
The Ontario Teachers' Pension Plan planned to pay 144p per share for Goals, which runs five-a-side football centres across the UK. | The Ontario Teachers' Pension Plan planned to pay 144p per share for Goals, which runs five-a-side football centres across the UK. |
Goals, which employs about 800 people, made a pre-tax profit of £9.2m in 2011. | Goals, which employs about 800 people, made a pre-tax profit of £9.2m in 2011. |
It currently operates 43 outdoor centres in the UK and one in the US. | It currently operates 43 outdoor centres in the UK and one in the US. |
Previous version
1
Next version