A letter from liquidators Begsbies Traynor send out to all shareholders in Port Vale (Valiant 2001) Football Club Ltd has reminded shareholders that the liquidators “reserve the right to request payment of the capital”.
Out of the hundreds of shareholders listed in the document dated 16th October 2014, only three people – Blue Sky International owner Hank Julicher (shares named in his wife Margrit Julicher’s name) and former directors Perry Deakin and Peter Miller – have not paid for their shareholding.
Hundreds of Vale fans purchased shareholdings, some bought for children or others by fans who have sadly passed away and each one paid for their shares in full.
Julicher denied buying any shares, memorably commenting that: “I’d have to be crazy or on drugs to agree to such a thing.”
However, Miller (50,000 shares with none paid for) and Deakin (20,000 shares with none paid for) also stand out on the list.
OVF still hopes that justice will be seen to be done.
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.