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Lincoln City have announced significant fresh investment in the club.
A figure of £355,000 has been pumped into Lincoln City Holdings – the club’s holding company – by Sportvest, the company which chairman Clive Nates and fellow board members Sean Melnick and Ashley Mendelowitz invest in the club via.
All funds in Lincoln City Holdings, which owns 66.45 per cent of the club, are available to be invested in the club, confirmed a statement released by the club over the weekend.
The latest cash injection takes Sportvest’s investment in the club to £1.5million over the last three years.
The club statement read: “Lincoln City Holdings disclosed earlier this week at Companies House [United Kingdom’s registrar of companies] details of a further investment of £355,000 in the company.
“The necessary formalities were confirmed at the recent board meeting held on 13 February.
“This represents a planned ongoing annual investment from Sportvest Capital LLP into Lincoln City. Sportvest first invested into the club in February 2016 and has now invested in excess of £1.5million.
“All funds invested by Sportvest, similar to all other investment, has been through equity and consequently there are no amounts owing to any directors or investors.
“All funds held in Lincoln City Holdings are liquid and available to be invested in the club when required.”
Imps vice-chairman Roger Bates said: “After their original investment into the club just over three years ago, Sportvest have shown an unswerving determination to see the club progress both on and off the field.
“Their expertise has been invaluable to that progress, playing a significant part in moving the club forward, and this latest investment only serves to further demonstrate their continued commitment to the future of Lincoln City Football Club.”