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Owls Yet To Receive Offer

Wednesday have yet to receive any evidence that a proposed takeover of the club is imminent and have played down talk that a deal has been struck in principle.

Reports circulating in the media, including right here on Vital Sheffield Wednesday, reported that Geoff Sheard and his consortium were edging closer to a deal for the club after agreeing a deal in principle to buy a 30 per stake at S6.

But the club have today responded with a statement, insisting that they believe no offer is imminent but that board is continuing to talk to parties over a possible takeover of the club.

The statement read: 'The Board notes recent press comment relating to the imminence of an offer for Sheffield Wednesday and to certain shareholders in the Company having agreed to sell their shares to Mr Geoff Sheard, one of the parties referred to in the recent press as a potential offeror for the Company.

'The Board wishes to confirm that it has not at this time received any offer proposal from any party that is sufficiently clear or developed with regard to, inter alia, terms, source of finance, timetable or the process by which any offer for the Company is to be implemented. The Board continues to be open to dialogue with any bone fide offeror and to working to develop any acceptable proposal such that it can be presented to the Company's shareholders for their consideration.

'However, the Board does not currently have the required evidence to suggest that the posting of any offer document to shareholders is imminent.

'The Board also wishes to confirm that none of the Company's directors including Mr Geoff Hulley, has entered into any arrangement with any party regarding the sale of their own respective shareholdings in Sheffield Wednesday. Further, the Board has received written confirmations from Mr David Allen, former Chairman of the Company and Mr Keith Addy, a former Director of the Company that they too have not entered into any such arrangements at this time.

'The Board will keep shareholders informed of any further material developments.'

Lancashire-based businessman Geoff Sheard and his consortium of foreign-based backers are believed to be the front-runners for the club, although former Boston United chairman Jon Sotnick has also revealed his interest in the Owls.

Keep your eyes posted to Vital Sheffield Wednesday for all the latest updates!




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The Journalist

Writer: Nick Mail feedback, articles or suggestions

Date:Thursday May 1 2008

Time: 1:28PM

Your Comments

hmmmmmmm
mansfieldowl
geoff sheard is a vip guest at hilsbora satdi. thats why they slashed prices to impress him and tie up the loose ends. not be long now
mick66owl
Elation, Depression, Celebration, Disappointment all in days work for an owl. BBC Radio Sheffield started it all off Tuesday night, with the news of a proposal been accepted. Who was their source?
Bigash
Bit of patience chaps, we have waited years for this , another 4/6 weeks is not going to hurt. All big txns like this take time, and they will just be making sure everything is in place. If you were spending 40m on a investment would you rush into it ?
Aston Owl
NOT WORRIED , they have to say that, takeover rules doesnt allow them to say any different till the t's are crossed and the i's are dotted
mick66owl
Yeah with you Mick.It's nice to hear two parties interested in the club one of which is sure to buy,so no panic. UP THE OWLS! Sorry I will not be there on Sunday so just wanted to say good luck to us, 2-1 winners.
ThatchamOwl
Spot on Mick, and one of the deals I am sure will happen.
Smurf
You can't be sure of anything with this board. They're probably all ****ing off on holiday in a couple of weeks. Don't count your chickens.
onedeaddj
1 chicken 2 chickens 3 chickens 4 chickens 5 chickens 6 chickens 7 chickens 8 chickens 9 chickens 10 chickens 11-12-13-14-15-16-17-18-19-20 chickens carnt count anymore run out of fingers and toes. it will be fine stop worrying. lets concentrate on sunday and 3points
mick66owl
All correct - the one thing (well actually there are lot's of things) you have to be very careful about doing as company owners in a potential take over situation is commenting on events prior to or during the formal aspects of the procedure. This could later be interpreted as the club or the board as trying to influence the offer price ... which is not only naughty ..but also illegal !!
DB2002
ever the optimist onedeaddj
FUTURES BLUE N WHITE
It's gonna be fine...all of it! Up the Owls!
SuperOwls
Well if they are off on their hols ..let's hope they want a little spendin money to take with 'em
DB2002
wonder how many sombrero's and straw donkeys u could get wi 4 million, or maybe they prefer toblerones
mansfieldowl
Nothing to be worried about. Nothing in the statement that we really didn't know!
will it ever happen
The negotiations, that take place before an offer is made will eventually lead to an offer, once an offer is made, and person who the offer is directed at accepts the offer than a binding contract is in existance,what can be acted on in a court of law,even if no money has changed hands yet, so don't expect a formal offer until the accountants, solicitors, investors, share holders are all 100% clear on what is expected form all parties and when. the problem at hillsborough, as any football club is the varying level of resources avilable to different parties, so not all steps towards the gaining of control of the club will move forward at the same pace.. all the pieces of the jigsaw have got to be lined up ready to fit together, things can and will go wrong, be delayed before the investors are in control and developing the club to increase the value of their investment... lets hope no body looses patience with anyone else... wednesday are a great investment, and the fans are the best in europe... it will happen, but once all parties are ready and the contracts are drawn up and examined, (which can take months) by accountants and solictors, then an offer will take place in an agreed format and order to lead to a majority of complete buy out... meanwhile come on wednesday, lets show what we are made off, i'm in the mood for thrashing Norwich...and having a few pints..
wednesdaydoyle
good read doyle. and correwct too. UP THE OWLS
mick66owl
 

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