April 13, 2023

STATEMENT: Trust Update RE Ownership

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During our meeting which took place on Thursday 6th April we promised the supporters that we would keep you updated with any information that we can provide regarding the transfer of shares from Mr Watkinson and Mr Wright to a new party.

Today we have contacted Mr Watkinson and Mr Wright with our comments regarding the current offer that is on the table.

In this email we have taken directly from the statement released last week and reiterated to the current custodians that "we are keen to work with any individual or party" but we also emphasised the part where we said "whose aims and objectives align with our own and we will always do what is best for our membership, supporters and wider community."

We have requested the following:

  • Information regarding parties involved so we can diligence them
  • Confirmation how the investment of funds will be made (debt/equity, in tranches, etc)
  • A meeting with this party

We understand the business plan & financial forecast needs to be approved by the EFL/NL and then a Directors and Owners test must be passed. We may not know the identity of all people involved until this has cleared.

We will provide a further update as and when we have more information.

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