Mark Hetherington

[Stephen Leonard]

So the club are looking for a new director/10% stake, what is 10% of the club worth?

I don't know the ins and outs of Marks position, although he has resigned as a Director he is still an owner of the club unless he walks away from that as well.

Legally he will still own the shares until bought or given to another person - but I woudl imagine that this line is very relevant

We are saddened to announce that Mark Hetherington has decided to step down as a Director of Barrow AFC and will also no longer be an active investor in the Club

Which basically means Mark wont be funding any future losses in the club as the owners have done in the past.

Now if no one wants to take over his shares then he will retain the number he currently has but instead of him purchasing any more shares to cover the losses, the other 90% of shareholder will cover his 10% contribution and new shares will be issued accordingly. Therefore over time the 10% stake gets diluted as his shares become a lower % of the overall total in issue.