Loan notes and share purchase to save nearly £250k a year in interest payments
A Leicester Tigers shareholders meeting on 19 August approved the redemption of loan notes and purchase of shares by director Tom Scott.
Scott can buy 3 million shares at £1.83 each, increasing his holding of ordinary shares to 46%. The club says the arrangements will save the club almost £250,000 a year in interest payments on the loan notes.
Last year the club paid interest on its debts of £370,000. For more detail see analysis of Tigers finances.