Munto Finance Ltd, a group owned by a consortium of wealthy investers from the Middle East, are all set to take over the club after signing heads of terms. Headed by Nottingham-born former Everton commercial director Peter Trembling, and also Peter Willett, who have both joined the club's board, the group hopes to take over as soon as the deal is accepted by the shareholders, particularly the Supporters' Trust, who will need to ballot members before accepting the deal.
If all goes smoothly, the deal will be completed within "weeks", ahead of the new season. Chairman John Armstrong-Holmes told the official site:-
"At a specially convened Club Board meeting held on Tuesday evening, the Club Board discussed the proposal from Munto which was accompanied by proof of funds and unanimously agreed to recommend its acceptance to all shareholders.
"Two of the Munto group, Peter Trembling and Peter Willett, were appointed to the club board with immediate effect to assist in the process."
When the takeover does go through, it is expect Trembling will become the club's chief executive, to aid with the day-to-day running of the club.
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