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Bryan Huxford Withdraws His Takeover Bid!

By: Bill Osborne
Date: 14/07/2001

BRYAN HUXFORD today announced that he has withdrawn his takeover bid for Grimsby Town Football Club. In a press release to The Fishy the airline chief explains the reasons for his decision, and passes on the recommendations he has made to his backers.

The Huxford Statement

In view of not having reached the required level of shareholder support, which would have enable my Company to successfully take overall control of Grimsby Town Football Club Plc and in the interest of the business its employees and short term stability of the Club, I have with regret decided to unreservedly withdraw the offer.

Whilst those shareholders supporting the principle, afforded my Company the opportunity of acquiring a majority shareholding, the required seventy six percent was not forthcoming.

I personally therefore do not wish one of my Companies to be responsible for continuing the uncertainty that has surrounded Grimsby Town FC during the last few weeks.

The financial institutions, with which I have succeeded in developing serious interest in GTFC, are still keen to progress an involvement to the future benefit of the Club and I have therefore suggested that they may wish to consider making their own approach direct to the Company's shareholders.

Finally I would like to thank all shareholders, for taking the time to consider my offer, even though I was unsuccessful.

Bryan Huxford
Chairman
P & B Investment Holding Ltd


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