Originally Posted by Nickelson (Post 718166)

The reason Eric wont sell is this - Preston and Leyland Citizen - NON LEAGUE SOCCER: Khan fury over Stanley response and if he thought the club was worth around the 750,000 mark ten years ago. Imagine what he is demanding now.

Originally Posted by expatriate (Post 718171)

and if Mr Whalley were not to subscribe to that share issue then if his shares became less than 56%.

Originally Posted by expatriate (Post 718171)

Hello Chaps.

Just in terms of the mini-debate going on about the past, I thought it would be useful to let you know that just over a year ago I sat down opposite Mr Whalley in the ASFC offices. He offered to sell his shares for £1million, valuing the club at over £2million. You wont be surprised to hear that I politely refused his very kind offer and wished him luck on his quest to sell his shares. It is clear that he has been trying to sell for a while now, and, for what its worth, I do believe that Mr O Neil was a genuine possible buyer before things broke down. I do not have any confirmed facts about the price or the conditions, so I do not know and cannot comment on why Mr O Neil's offer fell away. I can confirm that if Mr O Neil's offer would have included creating further indebtedness, I would have opposed the deal.

Also, switching to the present time, I do not know what value Mr Whalley ascribes to his shares now, nor do I have a very clear view of the value that any independent auditor would attach to the club. However, I do know that the club needs capital - and fresh equity capital "with no strings attached" (ie not debt, or future recievable funding or some sort of funny promissory note). I assume that Mr Whalley's interests and the club's interest diverge at this point since Mr Whalley will want the maximum amount of cash going into his pocket, whilst the club needs cash going into its till to be able to not only pay off creditors but keep a reserve for players and ground improvements.

I do not have any idea about how the club or Mr Whalley might finance their way out of the current situation, and I clearly wish them luck, but I reiterate that I have no interest in buying anyone's shares. My interests are to maximise the cash inflow to the club.

Also, to all those who follow this board, I can confirm that the club finally DID contact me directly this morning. I repeated and clarified my position, including the fact that I cannot and will not be able to run the club, but that I can think of others who would do a great job if Mr Whalley were to move aside in the event that the club were to issue more shares, and if Mr Whalley were not to subscribe to that share issue then if his shares became less than 56%.

Also, finally, I will be in Accrington on Friday and would extend an open invitation to anyone who wishes to meet to talk about the club, including the fighting fund or anything else, at 5.30pm at my family home at Stanhill Hall. I am an absolute believer in transparency of action and of intent, so anyone who wants to come along is welcome. Its not a press event or a time for speeches, but just a chance for all of us who hold ASFC dear to meet and maybe even come up with ideas that can bridge the gap. We must not let the club fall. that is the bottom line. I am the first to acknowledge the success that the club has enjoyed whilst Mr Whalley was in charge, but my focus now is the present, not the past.

Ilyas
(monday june 1st 1.20pm)

Originally Posted by slerpy (Post 718207)

Ilyas, Just one question , how much are you prepared to put into the fighting fund ?

Originally Posted by JEFF (Post 718214)

David Andrew Styring has 14.59% of the shares,

Originally Posted by churchman phil (Post 718206)

So basically Eric's holding out for a fortune he won't get and will thus drag the club down to it's demise....

Originally Posted by Nickelson (Post 718211)

He has already spoken on here saying he is prepared to put £200,000 in providing new shares are released.

Originally Posted by expatriate (Post 718171)

Also, finally, I will be in Accrington on Friday and would extend an open invitation to anyone who wishes to meet to talk about the club, including the fighting fund or anything else, at 5.30pm at my family home at ...