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Owls fan group prove point
OWLS fan group Wednesdayite believe that their members' vote in favour of Geoff Sheard's offer proves that the aborted takeover by Paul Gregg last year might have succeeded if he had held talks with them.
Gregg's bid collapsed, with Wednesdayite's 10 per cent shareholding one of the reasons given by him, as it gave them the power to challenge the board.
Wednesdayite chairman Darryl Keys said: "We are delighted that our members have voted in great numbers on such an important issue and emphatically supported our (the group board's) recommendation.
"I hope this sends a resounding message to the club, its directors and the fan base at large that Wednesdayite has never been a stumbling block to any investor and that we have always recognised that at the appropriate time our shareholding had to play its part in securing a better and more successful future for the club."
Wednesdayite's landslide vote
Wednesdayite say in a statement that they were unfairly blamed for the collapse of the Gregg deal, as they had never been contacted by the bidder or anyone at the club throughout those negotiations, and they believe that Gregg might well have enjoyed similar support if, like Sheard, he had approached the group and held discussions as part of his negotiation process.
Keys said that Sheard's 20p-a-share offer, valuing Wednesdayite's shares at a little over 1million, is more than three times the offer from Dave Allen that was originally put forward by the former chairman and rejected in 2006: "That decision in retrospect now appears to have been an astute one," said Keys.
Sheard is confident of taking control soon and intends to be at the Burnley game but City analysts remain concerned about how he plans to fund a long-term strategy for the club and about his mystery backers.
The same sources say that the saga has dragged on for so long - six months - that the ball is in Sheard's court as he will have been asked to provide legal proof of funds.
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Weather for Sheffield
Wednesday 23 May 2012
Today
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Temperature: 13 C to 23 C
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