Villa Statement To Stock Exchange
Company Aston Villa PLC
Headline Aston Villa Team Management
Released 07:00 20-Jul-06
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.