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Villa Statement To Stock Exchange

Villa Statement To Stock Exchange

Company Aston Villa PLC
TIDM ASV
Headline Aston Villa Team Management
Released 07:00 20-Jul-06
Number 4722G

For immediate release
20 July 2006

Aston Villa Plc

TEAM MANAGEMENT OF ASTON VILLA

On 17 July 2006, Aston Villa Plc ("Aston Villa" or the "Company") announced that the board of Aston Villa (the "Board") had set up an internal enquiry into the circumstances surrounding the publication of a statement purportedly from the entire first team squad. That enquiry has completed its investigations. Although no misconduct by the manager, David O`Leary was uncovered, as a result of the investigation, it has been agreed that an amicable parting of the ways was in the best interests of all parties. Accordingly, a compensation package reflecting the situation has been established and it has been mutually agreed to terminate the contract of David O`Leary, with immediate effect.

Shareholders and supporters will be aware that Aston Villa has been in an official Offer Period since 19 September 2005, when the AVIL consortium made an initial approach to the Company. As previously announced, the board appointed Rothschild as an adviser to examine the AVIL proposal and can confirm that there have since been a number of other approaches from various parties, both from the UK and overseas. Extensive discussions involving Rothschild, the Chairman, Doug Ellis, and credible parties are ongoing and will be fully explored to determine whether a formal offer for the issued share capital of Aston Villa will be forthcoming. However, there is no certainty that any of these discussions will lead to an offer being made. Shareholders and supporters will be updated in due course.


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

Writer:J P Fear
Date:Thursday July 20 2006
Time: 9:09AM

Comments

0
THIS WOULD NOW BE THE BEST TIME TO BUY AS THERE WOULD BE NO COMPO TO BE PAID OUT FOR A START.FRESH MANAGER WITH A NEW TAKEOVER.IS IT NOT POSSIBLE THAT ELLIS WAS NOT ABROAD HOLIDAYING BUT MAYBE TALKING BUSINESS...JUST A THOUGHT.
JASON
20/07/2006 10:10:00
0
hopefully our corner shop of a club will soon be turned in a tesco!
son_of_cher
20/07/2006 10:15:00
0
Some city analyst on radio said he understood Ellis wanted to sell shares but keep power. In other words, give me £64 million but you won't have any say over the club. Nice one Doug! And you wonder why you haven't sold yet?
Steve W
20/07/2006 10:22:00
0
If 40,000 villa fans all paid £1,600 each we could buy it off him for the £64 million he wants. Maybe we could organise a list of the willing?
tylervilla
20/07/2006 11:03:00
0
Oh what a surprise ellis chooses now to tell everybody that there have been offers for the club that are being looked into. How many more times must he insult our intelligence by coming out with this to try and keep the heat off himself...! sorry doug but it wont wash this tme, you will be removed from the club by fan power and you should be ashamed by what you have done to our great club...!
deemz
20/07/2006 11:13:00
0
This is the time for Ellis to be sent packing it really is. Petchey stop supporting him Ranson come back, Comers speak, Neville where are you, Colombian, Ecuadorian anyone roll up and show an interest......Nurse the excitement is too much.
fatloser
20/07/2006 17:34:00
0
Did you like the Colombian Roll up bit?
fatloser
20/07/2006 17:35:00
0
I did, it was very smoothe and now I'm feeling a bit light-headed ;o)
Villain Of The North
20/07/2006 19:22:00
0
For months supporters have been clamouring for an update on the takeover situation, only to be met by a totally deafening wall of silence from Ellis and co. Why the update now? You have to suspect its merely a sweetener for the supporters, anything to keep the baying hounds away from the door. Tempers and emotions are running high right now. Ellis, Stride and the gang are well aware of that, and they are desperate to dampen the supporters animosity and hostility as much as is possible.
glensider
21/07/2006 03:23:00
0
spot on deemz. damage limitation
DougInABox
21/07/2006 09:12:00
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