AFC Telford United share issue proves disappointing
AFC Telford United have said that the latest attempt to raise cash with a share issue has been "disappointing".
It also said in a statement there is "no evidence of a consortium" interested in taking a majority stake in the National League North club.
The board will meet tonight to discuss the latest effort to raise money for the club, but a short statement addressing the latest share offer has been issued.
The response to the share relaunch was disappointing, the club said, adding that all applications have been for 50 shares or fewer. Those applications will all be honoured by the club.
Amid reports that The Bucks had also been subject to interest from a consortium of investors who wanted to take a 51 per cent shareholding, the club also said it had received an approach, but this had not even led to the consortium's identity being revealed.
In its statement, AFC Telford United said: "On the April 3 we received a request from a person claiming to be representing a consortium, he requested a non disclosure agreement and told the football club that this would be the first stage in their due diligence process.
"The club returned the NDA the next day. The club did not receive a signed copy of the NDA and no request for any due diligence information and no further contact has been made by this person.
"The football club have no evidence of an actual consortium, the club did ask this person for more information regarding the members of the consortium, and the person declined. The club have not had any further contact from this person."
A further statement is expected tomorrow.
