For the second time in a week, the Celtic Supporters Limited [CSL] have been forced to deny another rumour surrounding their potential involvement at the Parkhead club.
We told this week that the CSL has to issue a statement regarding rumours about buying Dermot Desmond out of Celtic.
And now, the supporter action group has been forced to deny that they are actively buying £2m worth of shares in Celtic in a ‘buying program’ with a strong statement online.
Do you think Dermot Desmond would really consider selling his Celtic shares?
What Celtic Supporters Ltd actually said about buying shares
In a statement on social media, the CSL cleared up their stance on investing in Celtic by strongly denying the ‘buying program rumours’.
The post said, “We are aware of claims circulating today that Celtic Supporters Ltd has been actively purchasing shares in Celtic PLC, including a suggestion that a “£2m” buying programme is “already on the move.”
“To be absolutely clear: this is not true. CSL has not purchased a single share on the open market. As our director David Low has already stated, this would be practically impossible.
“Celtic PLC shares trade on AIM with average daily volumes in the region of £10k. Attempting to deploy £2m into that market would immediately distort the share price and would fail, because the volume simply does not exist.”
The statement could not be any clearer, but the CSL move even further to distance themselves from these rumours.
Celtic Supporters Limited issue warning over false claims
The CSL have also been forced to explain why these rumours are particularly damaging as they could lead to accusations of ‘abusing’ market regulations.
The action group continued, “More importantly, making false claims about share buying activity in an AIM-listed company is not harmless speculation.
“It has the potential to mislead other market participants and could engage market abuse regulations. We would ask anyone sharing information about CSL’s activities to verify their claims with us before posting.
“Our strategy is public, transparent, and documented. If we haven’t said it, it isn’t our position. CSL’s purpose is to organise shareholders’ existing voting rights, not to speculate in the market. We have been consistent on this from day one.”
It’s clear that the CSL are furious about these online rumours and being forced to clarify their stance twice in a matter of days.
The vast majority of Celtic fans want change in the boardroom but this change must be facilitated correctly. Spreading rumours like this does not help anyone.
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