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Sheard Takeover Edges Closer

Sheard Takeover Edges Closer

A deal which would see Geoff Sheard and his consortium move in to the Hillsborough boardroom seems to be getting closer after Wednesdayite received a formal offer for their shares.

The fans' group have been in talks with Sheard for a number of weeks and have now received a formal offer, believed to be 20p per share, for their 10-per-cent plus shareholding at S6.

But a takeover at Hillsborough could still be weeks away, with Wednesdayite set to ballot their membership over the issue.

Sheard has already held a meeting with former Owls chairman Dave Allen about purchasing his shareholding in the club, and Wednesdayite chairman Darryl Keys believes that a deal could only be done if it's part of an overall deal that would see a party take complete control at S6.

He told the Sheffield Star: 'First we have sought advice from our lawyers to ensure that we adhere to legal procedures and subject to that we are happy to ballot our members and hopefully get the go-ahead for a sale.

'Obviously it would have to be part of an overall deal that gives control to another party; if someone was just acquiring our shares and nobody else's then we would just be shuffling deckchairs.'

But there is still a question mark over the purchasing of the 10-per-cent shares held by directors Geoff Hulley and Keith Addy, both of whom have denied meeting Sheard as yet.

But the move to purchase the shares of Wednesdayite show a clear intent from Sheard to get the takeover at S6 moving.



Click here to join in the debate on the club forum.

Writer:Nick
Date:Wednesday July 2 2008
Time: 10:22AM

Comments

0
its looking good!... s**t jinxed it... sorry
mansfieldowl
02/07/2008 10:49:00
0
On the afternoon of Tuesday 1st July, Wednesdayite received a formal written bid for our shareholding from Geoff Sheard representing a Swiss based trust. We had earlier met with our legal advisers and the letter was immediately referred to them for their advice. We will act in accordance with any advice given with the full intention of proceeding to a member ballot on this issue. With immediate effect and for the avoidance of doubt, only full members who were paid up prior to this notice are eligible to vote in any ballot. We will continue to accept memberships as normal but such memberships will not be eligible to vote in any ballot in respect of this bid. Should the legal advice confirm that a member ballot can proceed as hoped, then at least 14 days notice must be given to members after we have ensured that we have prepared all the necessary paperwork. We estimate that the preparation will take around 7 working days.
mick66owl
02/07/2008 11:07:00
0
Will wednesdayite ballot members on what to do with the funds they recieve if the deal is completed ? and what would be the options ??
Aston Owl
02/07/2008 11:11:00
0
Keep dreaming, heard it all before!
sharpblades
02/07/2008 11:17:00
0
2 true mr blunt however this might just happen! not counting my chickens. but progress has certainly been made, so who knows..................
owler
02/07/2008 11:25:00
0
It's going to take time but it will happen!
will it ever happen
02/07/2008 12:09:00
0
im more confident now just a case of bideing our time
Barton6435
02/07/2008 13:10:00
0
This seems to have been going on forever, will the torture never end!!!!!! Little dramatic I know but just hope something happemns before the three weeks we'll have to wait for wednesdayite otherwise all decent plyers will have been snapped up!
cov_owl
02/07/2008 13:19:00
0
true but we wont have 2 worry about other clubs making derisory offers for our players. we,ll be able to stump up good wages for the current squad, and top quality loan signings during the season plus bring in players in january which depending where we,re sitting in the table especially if the leagues as tight as last year could make all the difference for the run in!
owler
02/07/2008 14:49:00
0
yawn yawn yawn change the record please.
bladesforlife1889
02/07/2008 15:02:00
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