The Dundee FC Supporters’ Society will retain its majority shareholding in the Dens Park club, after the result of a members’ vote was dramatically turned on its head.
When votes were originally counted last week the outcome of the fans’ ballot was narrowly in favour of giving up their majority stake if new investors sought shares for their contribution. This would have meant a dilution of the DFCSS shareholding below 50%.
However, after the result of the vote was announced, it emerged that Royal Mail had failed to deliver more than 200 votes ahead of the August 31 deadline.
It was therefore declared void and independent body, the Election Management Group, gave the go-ahead for the newly received votes to be counted.
On Tuesday it was revealed that a fresh count has delivered 57% of society members wanting to remain in shareholding control of the club.
The resolution which has now been ratified states: “Dundee FC supporters must remain the club’s majority shareholders and the shares held by Dundee FC Supporters’ Society must not drop below 50.01% of the issued share capital in the Dundee Football Club”.
No official comment was made by the club in the wake of the vote turnaround. Only time will tell whether potential investors in the Dark Blues will be put off by this latest development.