Accrington Web - Letter and message from Ilyas

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Letter and message from Ilyas

OK I know the link to his letter has been posted..But I have spoken to Ilyas tonight and he has asked me to post it on here for him and he adds the following

Quote:

However, if you go on the site, please do mention that you
have been in touch, and that I always was, and always will be both honest and true to my commitment to Stanley.

He also told me his reasons for not wanting to be involved with runnign the club (distance) and his intentions which are pretty much the same as in the letter... My own views made clear earlier today are that Ilyas would be good for the club.. He is honest open and transparent in what he does and for me the biggest plus is he isn't doing it for fame or anything for himself.. I know some of the things he has done for the club in the past and remained anonymous

PS
Also as willie miller will back me up on ... he likes to wind up the odd barrow fan from time to time :)

So as I have been asked to.. here it is in it's original form..

Quote:

OPEN LETTER TO DIRECTORS AND SHAREHOLDERS AND ALL STAKEHOLDERS OF ACCRINGTON
STANLEY
Dear Rob

Following recent events I understand that the club is in the process of
borrowing money to pay off current liabilities.

As I am sure you are aware, I think this is absolutely the worse step that
we could take. I am also shocked that in the current environment, that the board and shareholders would even contemplate taking such a step. Events in all spheres of life in the past year surely must have taught us that debt is not the answer. It is the problem.

I would like to request a meeting of the shareholders, as soon as possible,
where we can organise a new issuance of shares and raise money to put into the club and restore it to financial health. I am willing to subscribe for
new shares, and I am know many other people, including David O/Neil (I
imagine), would also be prepared to buy shares. A new share issue will
strengthen the club¹s balance sheet, and will ensure that Accrington Stanley remains free of debt. I will buy upto £200,000 worth of new shares myself.

This means we could probably raise much more as I know that David, a wealthybusinessman in his own right, also has the capacity to invest more. I would like to request that as Chief Executive you pass this message onto all shareholders. I am available at short notice and can get to the club at any time you request * including today evening * if other shareholders are around. Please would you kindly ensure Mr Whalley gets this letter, and all other directors and shareholders you might be aware of.

I am sending this letter to both the Lancashire Evening Telegraph and also
the Accrington Observer in order to ensure that the widest constituency of shareholders can hear about my request for a shareholder¹s meeting.

I am sure that there will be other issues that can be discussed in that
forum, but my request is very simple. Please do not put our venerable and
much loved club into debt. Please accept an equity offering that will
restore the balance sheet and pay off debt. All of us who love and admire
the club will step up, I am sure.

I will close by asking you to let David know that if he wishes to buy Eric¹s
shares then he has my support. I have no ambition to run or manage the club in any form. My desire, exhibited over 17 years now, is for the club to be healthy and for the people of Accrington to take pride in th¹owd reds ! Lets not run the risk of being deducted points for things that are off the field. Lets not borrow money that we don¹t have. These securitised debt instruments that pay today for future revenue are the kiss of death. Look at RBS, look at the other well known casualties of the financial crisis. Lets not allow Accrington Stanley to fall into that trap. We have alternatives. Lets use them.

Ilyas Khan