Payment of creditors behind collapse of Stones takeover talks
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by Alex Hoad
How best to pay-off Maidstone's creditors appears to be the
reason why takeover talks between Lashings and the Stones
shareholders have broken down.
Club officials say they were unable to allow the takeover to
progress with new FA guidelines regarding the payment of creditors
believed to be the reason.
Last week former Stones player Glenn Aitken - acting as
representative for Lashings supremo David Folb - asked the Stones
directors what it would take for them to step aside.
Mr Aitken said initial talks had thrown up a figure which
Lashings considered 'unreasonable' and with the two parties 'miles
apart' according to Mr Aitken, talks were ended late on Friday in
an email sent from the club to Lashings.
Stones chairman Paul Bowden-Brown (pictured) - who has
repeatedly said he will step aside should the right deal be in
place for the club - said: "To enable a successful takeover we have
to adhere to certain criteria set down by the Football Association
and our own league.
"It has not been possible at this stage to reach a conclusion
which would abide by those rules in our considered opinion."
Rumours abound that an alternative takeover - possibly one
centred around existing investor Oliver Ash - is already in the
pipeline and is the reason why the chance of a Lashings deal has
been allowed to pass.
Mr Bowden-Brown said: "The current shareholders have agreed to
consider all other options available to them and to this end will
hold further talks early this week to try and agree a satisfactory
way forward."
He added: "While I understand this news will lead to some
uncertainty, may I reassure supporters that we, the shareholders,
want to be able to reach an agreeable resolution in a matter of
days.
"I would personally like to thank David and Glenn for their
interest in the club and the professional manner in which they have
conducted their negotiations with both myself and my
investors."
Tuesday, August 31 2010
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