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Board Battle Continues!

By: Bill Osborne
Date: 29/07/2002

GRIMSBY Town director today Mr. John Fenty discounted the claim by major shareholder Dudley Ramsden that he wants to own the club.

In a statement to the Grimsby Telegraph today, Fenty said: "The statement that says I want to own the football club is rubbish, surely confirmed by the fact that I have just sold most of my shareholding in Grimsby Town FC."

"The statement also suggests that I have not matched his investment in the football club. This is easily disproved. The fact is we have loans and guarantees of equal size in the football club."

"There is actually a joint written agreement between Dudley and myself. Amongst other things it clarifies that we would fund the business on an equal basis.

"Our serious disagreements began when it was made very clear that Dudley Ramsden wanted to remove a loan in the football club of £50,000.

"There is a letter from his accountant to confirm this. I feel let down by this as I gave substantial support to Dudley and the club during last season. Any withdrawals of financial support for the business would have massive repercussions."

Dudley Ramsden has confirmed that an agreement exists saying: "The agreement does exist, as well an agreement that neither myself, nor John, will use our shareholding to vote each other off the board."END

Now that is interesting as Fenty has now sold his shares to Michael Rouse who can vote to get Ramsden off the board. Is that why it was done this way? We might find out after the board meeting today.

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