OK adjusted for you: Current situation: 35000 issued shares, 15000 unissued 17850 Moores 51% 3465 Granada 9.9% 1785 Morgan 5.1% If the 15000 shares were issued and sold to an investor: 17850 Moores 35.7% 15000 New Investor 30% 3465 Granada 6.93% 1785 Morgan 3.57% If Moores then sold 1426 of his shares to the New Investor, he'd no longer by the majority shareholder: 16424 Moores 32.848% 16426 New Investor 32.852% 3465 Granada 6.93% 1785 Morgan 3.57% So if shares are priced at £4000 each you could become the leading shareholder for £65.7m with £60m going direct to club coffers and Moores pocketing £5.7m If Moores sold 10500 of his shares to the New Investor, he'd no longer by the majority shareholder: 7350 Moores 14.7% 25500 New Investor 51% 3465 Granada 6.93% 1785 Morgan 3.57% So if shares are priced at £4000 each you could become the leading shareholder holding 51% of the shares for £102m with £60m going direct to club coffers and Moores pocketing £42m