The Foxes Trust Board confirms receipt of a document from Leicester FC relating to the takeover bid of Milan Mandaric.
This document has a requirement to give a written commitment to the sale of the Trust’s shares to Milan Mandaric within a limited time frame.
The Trust is currently completing it’s evaluation of the document.
During the last week the Trust Board, as well as holding it’s own board meeting, has attended a further two meetings.
On Wednesday night, LCFC shareholders had the opportunity to listen directly to Milan Mandaric as he outlined his plans for the future of the club and answered questions. Most of the Trust Board attended this meeting and raised several points
On Thursday night, several of the Trust Board along with a number of shareholders attended a meeting at Grace Road where a discussion took place on alternative options to the Mandaric bid, again Trust Board members contributed to the discussions.
Due to the confidential nature of each meeting, as outlined by the organisers in both cases the Trust Board cannot reveal in any greater depth the content of each meeting at this time.
Attendance of both meetings was vital for the Trust Board as the final stages of deciding whether to back the Mandaric bid.
The Trust Board will announce it’s decision within the next 48 hours.