ENIC Completes Acquisition of Strategic Interest and Board Changes
Following completion of the acquisition of 27,356,649 ordinary shares of Tottenham (representing 26.9 per cent of its ordinary issued share capital) by ENIC Sports plc (a wholly owned subsidiary of ENIC plc) ENIC’s holding in Tottenham is 29.9 per cent of its issued ordinary share capital. The Board of Tottenham announces that Sir Alan Sugar has today resigned as Chairman and as Director of the Company with immediate effect. Daniel Levy, a Non-Executive Director of the Company and Managing Director of ENIC plc, will act as Non-Executive Chairman pending the appointment of a new Chairman.
The Board of Tottenham also announces the appointment of David Buchler (pictured) as an Executive Director of the Company in the role of Executive Vice Chairman. David will have specific responsibility for developing the overall strategy of the Company, in conjunction with the Board, a task which should be completed in stages over the next six months. During this period, David will also be responsible for the day to day running of Tottenham. David is 49 and a qualified accountant. He has over thirty years experience in business development and strategy including a wide range of work in football in the UK. He is Chairman, Europe & Africa for Kroll the world’s leading risk mitigation company, quoted in New York.
Commenting on the changes, Daniel Levy, Non-Executive Chairman, said:
"The Board’s priority is to develop a detailed plan for the Company both over the short term and for the next three to five years. We are ambitious for success, both commercially and on the field, and believe that Tottenham will achieve both. We believe there are a number of opportunities to attain these objectives."
David Buchler, Executive Vice Chairman, said:
"I have been asked by the Board to produce a strategic development plan for the Club. The objective is to position the club once more as one of Europe’s leading football clubs and in a stable environment to bring continued success on a consistent basis. The review of the club’s activities and its working practices will be all embracing and will take into account the views and concerns of all the different constituents that are interested in the club’s success."