The Sentinel newspaper claims that former Chairman Peter Miller resigned over the weekend. The move leaves the board below the legal number required to operate the business and has prompted the remaining directors to hold an emergency meeting with the Supporters Club, who are seeking to remove them.
Miller’s resignation means that the remaining three directors do not have the powers to sign contracts as the board is “in quorum” – that is below the legal number required for it to function according to the club’s articles of association.
It has also emerged that Vale chief executive Perry Deakin, acting chairman Mike Lloyd and the club’s solicitor met with a solicitor acting for the Supporters’ Club on Monday. The meeting followed confirmation from the club that information packs which should have been sent out to shareholders on Friday ahead of the AGM/EGM have not been posted. It means the crucial meetings – scheduled for Vale Park on March 13 – will now not take place on that date.
A statement released by Stoke-on-Trent city council also showed the club still owed £9,033 this month after paying the December and January instalments late.
In a seperate article, former director Stan Meigh has slammed the board saying: “The silence coming out of Vale is deafening. No-one knows how much we owe.
“There have been times before when we have dipped into our own pockets to pay players’ wages, but I would not want to pay towards Perry Deakin’s salary.
“If I could be sure where the money was going, I would have been happy to help with the wages of Chris Birchall, who has already said he would play for a nominal amount, or make sure we could afford a loan player like Jennison Myrie-Williams until the end of the season.”