Aston Villa - Lerner With 85.5% Of Villa Shares
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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).

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The Journalist

Writer: J P Fear Mail feedback, articles or suggestions

Date:Tuesday September 5 2006

Time: 9:01AM

Your Comments (oldest first)

Change to most recent first
I take it they have extended the period in order to reach 90% and then take the club back into private ownership?
Report Abuse
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.
Report Abuse
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?
Report Abuse
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?
Report Abuse
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
Report Abuse
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
Report Abuse
05/09/2006 09:57:00

Hey Saurat, have you thought of putting those words to music?
Report Abuse
05/09/2006 10:20:00

Thanks, Suspect
Report Abuse
05/09/2006 10:21:00

20m to spend this season and 40m to spend next, bring it on.
Report Abuse
05/09/2006 11:17:00

Where does it outline the 20m & 40m spending plan?
Report Abuse
05/09/2006 11:39:00

Maybe it is just me, but I do not believe that the biggest issue that the Villa has had is in investment in the team! Over the past few years we have punched above our weight in the money spent on new players. The problem has been that it has been spent on the wrong players, at the wrong times, for the wrong reasons by the wrong managers. This includes the likes of Curcic, Collymore, Alpay, Balaban, Stone, Dublin, Merson, Watson etc. Whilst some of these players gave excellent service, the return on the best part of 50 million is just 3 million. Surely buying players is not rocket science (unless of course you are Abramovich when the policy is just buy it, who cares how much they cost). It should be policy to only buy proven quality players with a maximum age of 25. In this way you can get, if not the rest of a players career out of them, you can get 3 or 4 years and then sell them on at good money. Wenger has been a master at this (Anelka, Petit, Overmars, Viera bought for 13 million sold for 67 million. Bergkamp what a great 7 million). The other option is to take a chance on players from the lower leagues. Telling them it is up to them to prove they are good enough. This gets you players such as Delaney, Platt, Yorke, Ashton, Kevin Phillips etc. So if there is 20 - 40 million to spend it is vital that it goes on players that are investments. I believe Villas biggest mistake is the total lack of failure to market the club in the boom years of TV money. Hopefully this will be corrrected by the new owners. What we need to do is ensure that all the kids in the region, country, world have a desire to support the Villa. Nothing annoys me more than seeing kids in Brum wearing Manure, Redscouse or Chelski kits. First we must dominate the midlands, by ensuring that local people want to support their local club. If we get this right, we can then look at competing on a global level. In short, buy your season tickets, wear your colours and put your stickers in your car. Encourage everybody else to do the same and sit back and enjoy the journey in your Aston Martin.
Report Abuse
05/09/2006 11:55:00

Now can you deliver on the field as well as off it?
Report Abuse
05/09/2006 12:34:00

Don't expect miracles. It will take the new owners time to recruit the people necessary to drive the business side of the club forward. However, Randy Lerner hasn't invested 60 million+ to sit on his hands so we should expect a new CEO to be appointed soon. New sponsorship deals, with companies we've actually heard of, will need to be negotiated etc etc. The amateurs over at Small Heath must be sweating buckets!!!
Report Abuse
05/09/2006 13:11:00

Stevew. You are quite right in saying that things will develop in time. The best thing I can think of to say for Ellis is that he never quite destroyed the solid foundations upon which the club was built. So whilst he failed to take us to the levels of Manure, Redscouse and the Arse (I will not include Chelski because they have only bought their trophies and there is no pride in that) he never left us in the state of Forest, Wednesday and Leeds to name but a few. However I can not see why you are concerned about the dildo salesmen from Small Heath. Lets leave them to do what they do best ......... exploiting your girls and wallowing in the filth of dirty old men. Our competition is now at the top of the table ........... where it should have been for years!!
Report Abuse
05/09/2006 13:51:00

above should read exploiting 'young girls' not 'your girls'. OOOps. Anybody know a good proof reader????
Report Abuse
05/09/2006 13:53:00

To correct my earlier post, a statement made on AVFC website states that Lerner's offer is conditional on obtaining 90% of the share capital. In other words, Gordon'sleftboot, your worst fears may be realised and he can walk away if he doesn't obtain 90%. Is he likely to though? He has already presented himself as the new owner and heralded in the new era. Surely the backlash of a walk away at this stage would be hard?
The Usual Suspect
Report Abuse
05/09/2006 14:25:00

I think geordie boy was pretty good with his spelling, wherever he has gone.
Report Abuse
05/09/2006 14:30:00

with up to 5% of share forms sent back wrongly filled in or without share certificates, hopefully the 90% figure won't be too far away. It is still not unconditional, but 85.5% isn't a bad return to kick off with!
The Fear
Report Abuse
05/09/2006 15:02:00

Agreed JF, and the 90% figure should be a mere formality. Would help though if those selfish individuals holding onto their shares, or a number of their shares, for whatever obscure reason, did the right thing and agreed to transfer them to RAL without further delay.
Report Abuse
05/09/2006 21:11:00


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