Rugby club funding boost

Saturday 23rd April 2011, 3:00PM BST.

Leicester Tigers will be able to develop their Welford Road facilities. Picture: David Davies/PA Wire

MONEY raised locally has helped England’s leading rugby union club develop its facilities.

Leicester Tigers are currently top of the Aviva Premiership and used the Channel Islands Stock Exchange to raise £4.4 million to develop facilities at its Welford Road stadium complex.

The Premiership leaders are chaired by Guernsey resident and buildings material magnate Peter Tom, who also chairs a Jersey-headquartered public company.

Leicester Tigers raised the money through the issue of subordinated convertible loan notes listed on the CISX, together with placing new ordinary shares with new and existing investors.

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