[AccyMad]

For anyone who can't get to the observer website, basically Ilyas has stepped down as Chairman and is giving his shares away as he said he would once the club was on a healthier financial footing. For every 'C' share anyone has they will receive 3 of Ilyas's shares.
Peter Marsden is the new chairman & he has put together a consortium of investors, some of who will become directors.
Ilyas has said that his stepping down is a symbolic gesture, nothing has changed with his relationship with the club & he'll always be around to help if needed (Story now on fishy site)