Pearse Flynn red cards his 4% Celtic stake

CORK-born businessman Pearse Flynn has sold a 4% stake in Glasgow Celtic Football Club — shares of which were slightly up yesterday at just over 50p.

According to a statement made by Celtic to the London Stock Exchange, yesterday, Mr Flynn disposed of 800,000 convertible preferred ordinary shares on February 23. The stake was held by Natwest FIS Nominees Ltd and represented a 4.44% shareholding.

Celtic’s last annual report, for the full-year to the end of June, 2006 stated that the 4.44% stake was Mr Flynn’s complete holding in the club up to that point.