The Board of Grimsby Town Football Club PLC have met this evening to consider an application by Mr Alex May to acquire shares in the Club.
The Board have agreed to reject the offer. Contrary to certain statements made in the media this was not an application to acquire the Club or a controlling interest in it. It was an application to acquire shares and nothing more.
The Board had previously made it clear to Mr May that because of his criminal conviction he could not become a Director or be involved in the management of the Club. He understood that position but nevertheless still wished to proceed with the share acquisition. However in all the circumstances the Board declined to accept the offer.
Mr May had visited the Club on occasions to discuss his proposal. He wished to acquire £1,000,000 of shares which would not have been used for the day to day running of the Club but as a contribution towards the cost of a new training facility for use of the Club and also the local community.
The Board reaffirmed their previously stated position that they are prepared to enter into discussions with any interested party wishing to invest in the Club or who are interested in acquiring a majority shareholding.
Tonight’s decision does not affect the previous statement that funds are available for team strengthening in January.