In light of the intense press, media and social media speculation all parties wish to clarify the present position.

The Club can announce that Tom Shutes has withdrawn from the consortium who were proceeding to purchase the majority shareholding of John Fenty

Philip Day commented “We are very disappointed that at the last minute when all terms had long been agreed, all of the necessary documentation prepared and the consent of the EFL obtained that we received an email from Tom Shutes stating that for personal reasons he is having to step away from the consortium’s proposal for the acquisition of the Club. However, we move on and are pleased to report that we are still in dialogue with Jason and Andrew to move the matter forward”.

Jason added “Like Philip, we are terribly disappointed by Tom’s decision. We are hopeful however that a solution can be found and will continue our discussions with the Club”.

There will be no further statement from either party until there is something of substance to report to shareholders.