The Glazers' shareholding increased gradually to 76.2% by 23 May, when they made their final offer of 300 pence per share, with a deadline of 3 p.m. on 13 June.[39] On 26 May, the Manchester United board wrote to the remaining shareholders indicating their intention to sell their own shares and advising the others to follow suit; in the same letter, chairman Sir Roy Gardner and non-executive directors Ian Much and Jim O'Neill offered their resignations.[40] On 7 June, Avram Glazer and his brothers Joel and Bryan were appointed to the Manchester United board as non-executive directors.[41] Despite the board's encouragement, the Glazers' share in the club had only reached 97.3% by 14 June, short of the 97.6% threshold required for a compulsory buyout of all remaining shareholders, prompting them to extend the deadline on their offer to purchase the remaining shares until 27 June.[42] A statement released on 28 June said that Red Football's shareholding had reached 98% (259,950,194 shares), prompting a squeeze-out of the remaining shareholders.[43] The final valuation of the club was almost £790 million (approximately $1.5 billion at the exchange rate at the time).[42]