Wilde: New investment talk was news to me! (From Daily Echo)

Wilde: New investment talk was news to me!

7:46am Tuesday 23rd October 2007 in Sport By Adam Leitch, Chief Sports Writer

Michael Wilde has admitted his surprise at not being consulted before the release of yesterday's stock exchange announcement.

The former chairman, one of two major shareholders needing to be won over before the potential mystery Saints investors can get a foot in the door, confessed the first he heard of the proposal was seeing the statement after it was released.

It is often the case that major shareholders are consulted and in agreement before a statement is issued but Wilde did not know its contents until everybody else.

Wilde accounts for around 16 per cent of the shareholding and his support, along with that of the Rupert Lowe camp and Leon Crouch, will be vital.

With 75 per cent shareholder support being required Lowe's gang could veto it on their own or Crouch and Wilde together could have the same effect.

He said: "I knew nothing about it until I saw the statement. I haven't been consulted.

"I am surprised that the executive didn't deem it appropriate to consult with the major shareholders before making this announcement.

"I will reserve judgement until I have seen the proposals."

Wilde's comments are the first potential chink in the armour of the proposals with many now calling for further details of the potential investment and the revelation of the people behind the bid so it can be fully assessed and debated before judgements are formed.

Those details will have to be passed on to the major shareholders in double quick time to give the proposal any hope of getting off the ground.