Takeover talks ongoing but due diligence
THIS week, details of some of the questions & answers from the recent meeting between the boards of Stockport County and the Supporters Cooperative.
1. Takeover Update.
A. There has been some contact with the interested parties but no formal due diligence has yet been undertaken. The directors of the club cannot drive the timings of potential investors. We can only apply the tests which we have previously agreed, namely: Are the parties credible? What are their plans? Do they have the resources to carry these plans out? And then to finally carry out due diligence and understand the structure of any investment.At this point no meaningful due diligence has been asked for or provided, but all parties are aware of the major numbers and these are not a concern or a block to any potential investment. Until such time as there is a detailed proposal the directors will continue to run the club responsibly and invest in its future.
2. Could the Co-op meet any potential investor at the earliest possible convenience?
A. All shareholders will have the opportunity to meet any prospective buyer once a fully detailed offer has been made. 3.Ticketing The Cooperative raised questions about the new ticketing system that was anything but user friendly to supporters.
A .We do take on board the comments made about the communication to our supporters and will do our best to improve this going forward aided by some recent additions to our communications team.
It is clear there have been some significant issues with the new ticketing system and we as a club are dissatisfied with the current operation.