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Question of the Week
Do you support Cleethorpes Town?
Huxford To Reveal All!
By: The Fishy Team
IN our previous editorial we looked at the effect of Bryan Huxford's takeover bid and the situation existing with the current share issue. One of the concerns we addressed was the lack of any information regarding his backers, which may affect his bid.
The reason that the information has not been forthcoming as we mentioned in our Editorial is that Huxford's first step was to ascertain how many shareholders would support his move before he initiated a formal takeover bid which he could not do until he received approval from the stock exchange.
Now that the Stock Exchange's Takeovers and Mergers Panel have given him the go ahead to make a takeover bid he has to produce a prospectus to shareholders.
This prospectus would have to be prepared and presented in accordance with the Stock Exchange rules and will contain his business objectives and all the information needed to enable the shareholders to make their decision.
The rules applying to takeovers insist on full disclosure and in that regard Bryan Huxford will be compelled to disclose his backing and plans for the future. A situation that he has no problem with, according to our sources.
"...An announcement is expected soon!..."
Shareholders therefore should have no fear in indicating to him their intention which in any case, will be subject to the prospectus. This will assist him in making his decision as to whether he should continue with his offer or not.
It appears that he has obtained the support of many of the major shareholders which is an indication of the confidence they have in him to lead the club to success. An announcement is expected from Huxford during the next few days and with the majority of fans appearing to support his efforts, it is hoped that he is able to continue with his bid.
Next Story: LENNIE LAWRENCE, Grimsby Town's manager has set a deadline for "Golden Goal" Wayne Burnett to decide his future with the club. Presently operating on a month by month contract, the midfielder has until the weekend to make a decision. More
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