BURNLEY director Clive Holt purchased shares worth £127,000 in the club following the recently completed rights issue to become the third biggest Clarets shareholder.

Holt bought 635 shares to take his overall holding to 2,074.

Chairman Barry Kilby is the major shareholder with 17,377 - about 50 per cent of the issued shareholding.

And Ray Ingleby has 6,048 shares following his recent investment which gained him a seat on the board.

Holt and co-directors Frank Teasdale and Bob Blakeborough - who haven't increased their stakes in the club according to the latest records - assigned their rights to Kilby to allow him to take his investment in the club to £3 million during the rights issue.

But Holt subsequently had shares allotted to him by the board to bolster the club's bank balance.

His intention had always been to put a six-figure sum into the club and converting previous loans to the Clarets into shareholding equated to a further 135 shares.

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