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Dudley Ramsden Replies In A Statement!

By: Bill Osborne
Date: 26/07/2002

DUDLEY Ramsden has called for his critics to put their money where their mouths are. Richard Robinson of Wilkin and Chapman, solicitors issued a statement to the Grimsby Telegraph:

"Mr Ramsden doesn't understand how the club is going to benefit from the private transaction of shares between two directors. Is Mr Fenty going to put the proceeds of the shares as a further loan into the company?"

"Mr Ramsden assumes that Mr Rouse, who is now a major shareholder, is now going to match his investment in terms of loans and guarantees of about £400,000."

"Mr Rouse rang me (Robinson) on Wednesday night to tell me that he had now accessed some funds, but he had never mentioned it before at a board meeting at any time."

Ramsden would be prepared to sell his shareholding in the club if an agreement could be reached. "It would make a big difference if Mr Rouse and Mr Fenty matched his investment. John Fenty has made no secret of the fact that he wants to own the football club. Dudley is prepared to reach an agreement if one is forthcoming, but you cannot expect him to walk away and leave his money in the club."

"Dudley's heart is with the football club but he insists it is run on a business-like footing where income matches expenses."

"The cash flows prepared by the club shows a projected loss of between £800,000 and £1-million and Dudley isn't prepared to put money in this year, then next year, and the year after and so on."

"At some time the books have to be balanced and that has always been his wish. To balance the books and see what is available. He believes that is the only way for the club to survive. It's perilously close to the edge now."



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