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Mystery group on verge of takeover

12 March 2009 11:25
Magpies chairman John Armstrong-Holmes and board member Roy Parker are integral to the success of the takeover, according to the group, although the existing board have been the subject of recent criticism for failing to communicate the progress of the deal to the supporters' trust.

"We are in what could be described as the final stages of being able to place a firm offer for consideration by the club board, and we are optimistic that if talks continue in the way they have over recent weeks a firm offer will be on the table for the shareholders to consider in due course," read a statement from the group, which was posted on the club's official website.

"It is the intention of the investment group to stay working with Mr Armstrong-Holmes and Mr Parker as board members, as it is our belief that they have made significant inroads into ensuring the club remains viable."

The deal is dependent on all discussions remaining confidential, the statement added.

It read: "We very much hope not to be forced into a position of having to withdraw our interest because of the attitude of certain individuals who have leaked confidential information."



Source: Team_Talk