Takeover given Trust green light

The results of the Supporters' Trust vote on Munto Finance Ltd's proposed takeover of the club have been counted, and members have given the prospective takeover the overwhelming green light. Members of the Trust had until 12 noon yesterday to cast their vote on the takeover, and 83% of the Trust's 1,025 members did so.

814 votes were counted in favour of the Trust gifting their shares to Munto Finance Ltd, with just 55 being received against the proposal, meaning a huge majority of members are in favour of the plans, meanwhile 784 votes were in favour and 78 against, with regards to the second questions on whether the Trust should write off any loans which are owed by the club.

This is a major step forward for the proposed deal, which chairman John Armstrong-Holmes believes should now only take around two weeks to be finalised fully. However, Peter Trembling, who has already been appointed as chief executive at the club, will now be given a far bigger role to play in decision making by Armstrong-Holmes, before the formalities of the takeover are complete. He will also become chairman when the takeover goes through, and Armstrong-Holmes opts to step down.