Sheffield United....Blade Runner?

The Royal Mail does its usual efficient job - I have today received the circular posted on or just after 6/12 convening the EGM at Bramall Lane on 29/12.

Have any of you noted the small print of this fund raising? There are at present 211,841,348 shares in issue and K McCabe is interested in 122,996,026 (58%) of these. The loan notes will convert into between 66,666,666 and 100,000,000 shares in April giving him between 68.1 and 71.5% of the company. The reasoning in the circular for not going to other shareholders for funds will become even stronger in any future fundraising and then..........