GFH, meanwhile, is facing questions over the distribution of shares in Leeds after it emerged that the League has asked for clarification over the exchange of a majority stake between the Bahraini bank and club chairman Salah Nooruddin.
The accounts of GFH published last June remarked on the “placement of majority stake in LUFC to strategic investors.†Those shares are believed to have been acquired by Nooruddin but have since been repurchased by GFH in anticipation of Cellino’s takeover. Nooruddin, a Bahraini businessman, originally bought a 3.33 per cent stake in Leeds through his company, Envest Limited. An ownership statement on United’s official website was later changed to show that Nooruddin’s shareholding had increased to more than 10 per cent.
That statement was altered again last week with Envest removed completely from the list of companies which own more than a 10 per cent stake in Leeds. GFH Capital and Bahrain’s International Investment Bank (IIB) are now named as the only major shareholders.
GFH was asked by the YEP to confirm the exact date of the sale of shares by Nooruddin back to GFH and to comment on whether the relevant stock exchanges in Bahrain and Dubai had been informed of the deal. The bank did not respond.
Dette blir jo bare værre og værre....
Har Noorudin fikset seg selv aksjer uten å spytte inn penger?