Former Watford chairman Graham Simpson has given almost half of his shares in the Hornets’ parent company to his wife Yianna.

The Stock Exchange released a statement this week confirming Watford Leisure Plc were notified on Friday that Simpson had given 3m of his shares to Yianna.

This resulted in Simpson’s personal shareholding in the club reducing to 8.24 per cent, with his wife’s stake increasing to 8.55 per cent.

The couple’s combined shareholding has not changed though as together they still hold 7,368,796 shares, which relates to approximately 16.79 per cent - the same as before.

It is unclear whether the alteration is related to the possible takeover which was also announced on Friday.

The statement released to the Stock Exchange read: “Watford Leisure (AIM: WFC) received notification on 3 December 2010 from Graham Simpson that, following the disposal by way of gift of 3,000,000 ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") to his wife, Yianna Simpson, on 3 December 2010, Mr Simpson is now directly interested in and the registered holder of 3,616,917 Ordinary Shares, representing approximately 8.24 per cent. of the issued share capital of the Company, and 11,840,000 warrants, whilst Mrs Simpson is now directly interested in and the registered holder of 3,751,879 Ordinary Shares, representing approximately 8.55 per cent. of the issued share capital of the Company.

In aggregate, Mr Simpson and his wife together remain interested in 7,368,796 Ordinary Shares representing approximately 16.79 per cent. of the Company's issued share capital.”