Update on the Update

This earlier members’ update (shown below) has generated a number of queries, particularly in relation to it conflicting with what was said last night in the Vere Suite.

A number of you have said Don mentioned there are two interested parties. This is correct, but these are now supporters who may invest through the Share Scheme, rather than make an outright bid for a majority stake in the Club.

There have been as many as nine interested parties in total and the situation changed every day this week. The significant developments were that the bidder who we believed would become serious after our result at Torquay decided to look elsewhere, and the original bidder (whose interest led to all the previous announcements and the members’ meeting) reduced their offer and we are no longer considering them. That development was only finalised last night.

So, that is it, nothing is being hidden and we apologise if you have been confused and/or annoyed.

Looking forward, we believe the Share Scheme is a viable route to providing the working capital the Club needs and as £400k has been pledged, a number of you clearly agree with us. For those of you wishing to hear more about our future plans before committing, we will begin that process at the forthcoming meeting.

Thanks for reading.

Colin Treacher