The Fishy - Grimsby Town FC



League Two Table

  PGDPts
1Luton283657
2Notts County281751
3Accrington Stanley271549

4Wycombe281449
5Exeter27548
6Coventry281147
7Mansfield281047

8Lincoln City281145
9Newport County28745
10Swindon27344
11Colchester29342
12Carlisle28138
13Cambridge Utd28-938
14Crawley Town28-536
15Stevenage28-335
16Grimsby29-1135
17Cheltenham29-534
18Port Vale29-732
19Morecambe28-1129
20Crewe28-1429
21Yeovil28-1228
22Chesterfield29-2227

23Forest Green28-1926
24Barnet28-1521

Full League Two Table
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SPL|SC|S1|S2




Question of the Week

When should John Fenty stand down?

Immediately
End of season
When successor found
Job for life!


 

City Gives Huxford the Nod

By: Rob Sedgwick
Date: 11/07/2001

THE STOCK EXCHANGE'S Takeovers and Mergers Panel has formally backed former Vice Chairman Bryan Huxfords's plan to to take control of Grimsby Town by purchasing shares from existing investors. The panel, however, has ruled that the airline chief will have to issue a full prospectus to shareholders.

Mr Huxford indicated he was happy to go ahead with the full prospectus, which would take about three weeks to prepare, "subject to me getting indications that there are sufficient people willing to sell their shares."

Huxford's plans received partial success last week when four former board members agreed to sell him their shares. However the big stumbling back is that the Grimsby businessman needs 76 per cent of the equity for the takeover to succeed - a figure that cannot be attained without the support of chief shareholder Dudley Ramsden, who owns a 26% stake in the club.

It is believed that a 76% holding would give Huxford the power to overcome the block on the issuing of new shares and change the "articles of association" (a document describing the purpose, place of business, and details of the company). It would also enable a holding company to be created for GTFC which could control management and operations by influencing or electing its board of directors.

The battle of the boardroom is becoming increasingly acrimonious, with Huxford saying recently: "There are financial institutions waiting to invest but that money is not apparently welcomed by the current board. You will have to ask them why that is. It is clear that something needs to be done to secure the future of this club in the First Division and I have greater aspirations than that."



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