LTFC Accounts Update The Board of Luton Town Football Club have been in contact with us over the past couple of days and they have confirmed that they will be making information available to us immediately. We will be collecting this information later today (1st October 2007). The Board have also agreed that they will answer subsequent questions we have, but obviously with regard to commercial confidentiality which we respect.
We will be analysing the information presented to us over the next few days and we will feedback to members with our views as soon as possible. We have waited a long time for this information, and it was never our intention to rush this analysis, so it would be irresponsible of us to make kneejerk reactions as a result of waiting three months to receive the documents. Therefore, please bear with us and we will update you as soon as we can, as I am sure we will wish to ask the club some clarification questions prior to giving our feedback to members (and it is only right that the club are able to respond to questions before we make our final view known).
We welcome the clubs official statement with regard to building bridges with the fans. It has always been our intention to facilitate this and we will work with the club in this process. As previously advised, we have offered to meet representatives from the club to explain the role of TiL and restart a positive working relationship for the betterment of the club as a whole.
Finally, we have asked the board to clarify their statement that they have no plans to make further additions to the board of Luton Town Football Club Ltd. As members are aware, we did not resign from the board in the first place and only stepped down earlier this year whilst;
a) there was so much missing information that stopped us from complying with our fiduciary duties as a director,
and
b) whilst we elected a new representative after Kelvin Dunn requested that he be replaced
Therefore, we are not concerned by the clubs statement as we are not in a position to need to be reappointed (i.e. our representative is not an addition to the current board). In addition, all members are aware that we are in possession of not only 10% of the shares, but also the documents that show we were given a seat on the board from the moment Jayten Stadium Ltd took over the club in 2003 (as part of the deal for us to agree to the take over as we were a debenture holder). We are sure that Mr Pinkney will confirm that the statement means he is happy with the shape of the board including our presence, and has no plans to extend it from its current format.
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