Cash boost for ICT

CALEY Thistle have accepted a financial package in excess of £200,000 from a combination of existing directors and shareholders of the club.

The investment, however, is seperate from the discussions that Caley Thistle's board have been having with a group of Inverness-born individuals, who all are now based abroad.

The club announced last month that a mystery group were preparing to invest a six-figure sum in exchange for board representation.

"We are delighted at this cash injection at such a challenging time for SPL clubs," said Caley Thistle chairman George Fraser.

"We’re grateful to those involved in this initiative to purchase new shares. This has been accepted by the club's board.

"This development is unconnected with our recent announcement about the interest of a group of Inverness expatriates in taking a significant shareholding.

"It is the intention of the Caley Thistle Board to continue our dialogue with this latter group.

"Our club is unique in the SPL in having no bank overdraft but we require to pay our way on an ongoing basis, so all new sources of income are extremely welcome."

See more on this new investment in tomorrow's Courier