The Supporters club have a Paypal account available for fans wishing to contribute towards legal action against former members of the Vale board.
It was announced at last week’s AGM that £6,000 was required to issue bankruptcy proceedings against former directors Peter Miller and Perry Deakin over the “nil-paid” shares issue.
The action will be lead by Begbies-Traynor who will be undertaking the work free of charge. They are confident that there are grounds to issue the proceedings as no evidence of payment for the shares has been received. If the case is successful, supporters should be able to get their money back.
Supporters can donate online via the Paypal account firstname.lastname@example.org
Please include a telephone number with your donation. Please note, any refunds will incur a PayPal charge.
If you do not wish to donate online, it is possible to donate in other ways. You can donate via cheque to this address:
Port Vale Supporters Club,
C/O Ally Simcock – Chair,
42 Seedfields Road,
Stoke on Trent
Or via bank transfer: please email the Supporters Club for details: email@example.com
MOLD - the board which nearly killed Port Vale
Peter Miller, Glenn Oliver, Mike Lloyd and Perry Deakin (the first letter of their surnames spelling “MOLD”) led the football club into administration after a number of highly controversial decisions notably Deakin and Miller’s ascent to the board despite not paying for their shares (the so-called “nil-paid shares” affair), failed financial link-ups with two US companies Ameriturf and Blue Sky International (their £8m deal was described as “pure fantasy” by the firm’s CEO), a secret remortgaging of Vale Park which broke the terms of the club’s loan agreement with Stoke-on-Trent council and being sued by former club sponsors Harlequin Properties.
On 9th March 2012, the club entered administration for the second tie in its history after HMRC issued a winding-up petition.
To date, Deakin and Miller have failed to pay for any of the shares they “purchased” in Port Vale football club. The Port Vale Supporters club are continuing legal efforts to reclaim the money from the pair and reimburse many Port Vale fans who, as shareholders, lost money when the pair illegally joined the Port Vale board and mismanaged the club.