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EGM to be called

NLVMalc

By NLVMalc
in Port Vale present

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NLVMalc

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Press Release - Thursday 17th March 2011

 

Fans to call EGM at Port Vale

 

North London Valiants who recently polled the views of shareholders in Port Vale Football Club announced today their intention to call an Extraordinary General Meeting.

 

The meeting will allow shareholders to decide on whether they wish to accept a bid for the club from local businessman Mo Chaudry.

 

Mr Chaudry’s offer is to buy 51% of club shares injecting an immediate £1.2m into the financially strapped club, who recently sent loan players back due to financial constraints. Further investment has been promised in a

programme that aims to see Vale back at Championship level within 5 years.

 

Malcolm Hirst, Spokesperson for North London Valiants said:

“During our consultation with shareholders we have received more than enough share pledges to ask the board to call an EGM. We will now be contacting shareholders to help facilitate their wishes. The shareholders and fans of Port Vale will be asked to decide between the ‘blueprint for the future’ issued recently by the board, and the bid and business plan submitted by Mr Chaudry. We are a fan owned club and it is for the shareholders and fans to decide which plan is in the best interest of Port Vale”.

 

For more information, please contact Malcolm Hirst via [email protected]

Ends

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Santa Veteran

Santa

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Posted

Two questions:

 

Have you decided the wording of the motion(s)?

 

As for timescales, are you aware of the timings involved and how the board might spin any EGM as being destructive if it takes place in the last weeks of the season or even during the play offs?

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