Writer: J P Fear
Date:Monday July 31 2006
The club have made an announcement on the official site with regards to the 'takeover' talk.
It reads, taken directly from the official site:
A number of supporters have contacted the club recently requesting information regarding the current takeover discussions.
Whilst we understand the interest and concerns of supporters and shareholders, as a listed company, we are strictly limited to what we can and cannot say regarding the current situation.
Consequently, we have communicated all possible information to supporters and shareholders via the Stock Exchange.
However, the following points give a brief summary of the legal requirements that any listed company must adhere to in such circumstances.
*As Aston Villa is a listed company, the board and its representatives have a legal duty to conduct any takeover negotiations strictly in accordance with the regulations.
*There can be no special deals struck for the benefit of any individual. Personal interests cannot be pursued and all negotiations are conducted in the best interest of all shareholders and the football club.
*As the company's retained advisor, Rothschild has been, and will continue to be, present at all meetings to ensure regulatory practice is upheld.
*The board of Aston Villa are duty bound to consider the merits, or otherwise, of all offers made to the club.
*In such situations, it is not legally possible for a listed company to divulge specific information relating to a takeover without first informing the Stock Exchange.
*Accordingly, as and when appropriate, a further announcement will be made.
Date:Monday July 31 2006
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