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Lerner With 85.5% Of Villa Shares

Lerner With 85.5% Of Villa Shares

Recommended Cash Offer for Aston Villa plc ('Aston Villa') by Reform Acquisitions Limited ('RAL')

Level of acceptances and extension of Offer

As at 1.00 p.m. (London time) on 4 September 2006, valid acceptances had been received in respect of 9,790,187 Aston Villa Shares, representing approximately 85.50 per cent. of Aston Villa's issued share capital to which the Offer relates (being 11,449,245 Aston Villa Shares).

This total includes acceptances in respect of 6,508,423 Aston Villa Shares for which RAL had received irrevocable undertakings to accept the Offer, representing approximately 56.85 per cent. of the issued share capital of Aston Villa.

The Offer has been extended and will remain open until 1.00pm on 18 September 2006.

Neither RAL nor any person acting in concert with RAL for the purposes of the Offer held any Aston Villa Shares (or rights over such shares) before 19 September 2005, the first day of the Offer Period, nor has any such person acquired or agreed to acquire any such shares (or rights over such shares) since the commencement of the Offer Period.

This announcement should be read in conjunction with the Offer Document dated 14 August 2006. Terms used in this announcement shall have the meaning given to them in the Offer Document.

Further acceptances

For Aston Villa Shares held in certificated form, Forms of Acceptance not returned should be completed and returned in accordance with the instructions set out in the Offer Document and on the Form of Acceptance so as to be received as soon as possible.

For Aston Villa Shares held in uncertificated form, Electronic Acceptances should be made in accordance with the instructions set out the Offer Document so
that settlement occurs as soon as possible.

Any Aston Villa Shareholder requiring additional Forms of Acceptance, should contact Capita Registrars on 0870 162 3121 or, if calling from outside the
UK, +44 (0) 20 8639 2157 (during normal business hours only).

Writer:J P Fear
Date:Tuesday September 5 2006
Time: 9:01AM


I take it they have extended the period in order to reach 90% and then take the club back into private ownership?
05/09/2006 09:06:00
At this point I think we have to say a well done to DO'L and players involved with the statement. This plunged the club into a media frenzy 'crisis' which led to us getting a new manager and also gave the green light for the takeover bids to come in. Maybe DOL is claret and blue through and through, knew it would lead to him getting the sack but did it so the club could get rid of Ellis.
05/09/2006 09:17:00
Interesting point tylervilla. It would certainly be interesting to know whether Randy was in contact prior to the D'Ol sacking. For some reason I reckon he and others must have been and that brought it to a head. But who knows. I understand that 85% gives randy control but does not let him take the club private. If he can't get the other 5% or so he needs, can he still walk away or is he tied in now?
05/09/2006 09:27:00
One final annoying point, why does the official site always call him Lerner when Ellis has been Mr Ellis for years? Does DD write the web site too?
05/09/2006 09:28:00
It's a hap hap happy day, and whatever you've gotta do you've got a lovely day to do it in that's true
05/09/2006 09:30:00
Gordon's left boot... I believe he is effectively tied in, as he has bought the 60% shareholding from Ellis and Petchy, and is now obliged to buy the 25% of shares held by other shareholders that accepted the offer. He owns 85% of shares. He'd have to sell them to walk away. He'll get the remaining 5% needed to take the club private in time, but maybe not in the next 2 weeks. This is a great day. Finally Ellis is gone. The new era begins.
The Usual Suspect
05/09/2006 09:57:00
Hey Saurat, have you thought of putting those words to music?
05/09/2006 10:20:00
Thanks, Suspect
05/09/2006 10:21:00
£20m to spend this season and £40m to spend next, bring it on.
05/09/2006 11:17:00
Where does it outline the 20m & 40m spending plan?
05/09/2006 11:39:00
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