The Board of HUST are deeply concerned at the length of time it is taking to complete the investment deal that will resolve the future of the club.
It is 22 days since we met with the Club Board to discuss our £1 offer for the Club. In that meeting we were told that the proposed investment was expected to be completed within 10 days, comments that were made publicly in the Hereford Times two days later. We stressed the need to conduct due diligence on the club in order to ensure that any funds our members put in to our offer were not wasted. Since that meeting we have received no further communication from the Club’s Board.
David Keyte has already stated that the Conference require a budget for next season by Friday May 30th (Hereford Times, May 15th), and that the club will have to respond to Martin Foyle’s Winding-Up Petition by that date also. This means that the club has only 48 hours to complete a deal to satisfy both demands.
At this stage HUST has no control over the situation and it cannot force the Club Board’s decision, but HUST remains available to consider the options available to it in the short time frame available. We have kept our experienced advisers up to date with the ongoing situation and they remain ready to assist us in any rescue of the club.
The Board of HUST implores the Board of Hereford United (1939) Ltd to make their decisions in the interests of the Club and the Fans.