Well Society oppose revised terms as investment vote delayed
Ex-Netflix vice president Erik Barmack revised his terms before a vote could take place
- Published
The Well Society board are still recommending all members reject the Barmack family's proposal to invest in Motherwell.
It comes after recent amendments to the deal, which state the fans' group would remain majority shareholders after the six-year investment period.
The new submission would leave the Well Society with a 50.1% stake, down from its current 71%, after contributing just over £1.3m.
The Barmacks, meanwhile, would receive a 47% stake at the end of the sixth year after investing £1.95m.
Last week, the Well Society said they were still "deeply concerned" about the deal, even with the revised terms.
Following those recent changes, the two-week voting period has been delayed and will now start on 8 July.
