MX23RW : Monday, September 23 09:54:56| >> :600:16552089:16552089:

Michael Johnston no longer Kilmarnock shareholder

The former chairman had retained a 37 per cent interest after stepping down from the board in September 2017.

Former Kilmarnock chairman Michael Johnston is no longer a shareholder in the club.

Johnston retained a 37 per cent interest after stepping down from the board in September 2017 but has transferred his shares to director Billy Bowie.

A Kilmarnock statement read: "The club can confirm that today former chairman Michael Johnston has transferred 1,961,699 shares in the capital of The Kilmarnock Football Club Limited ("KFC") to existing shareholder and director Billy Bowie.

"Billy Bowie has also converted £76,502 of his shareholder loan into equity and now indirectly holds an aggregate of 4,000,000 shares in the capital of KFC.

"As part of the transaction and on the same date, Michael Johnston also transferred his entire holding of shares in the capital of The Park Hotel Ayrshire Limited ("TPHAL") to Billy Bowie, who now indirectly holds an aggregate of 1,000,000 shares in the capital of TPHAL, with the club continuing to hold the remaining 20,000 shares."

Johnston was on the board for 14 years, most of them as chairman.

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