Stock Market stunner for Crouch (From Daily Echo)

Stock Market stunner for Crouch

12:08am Wednesday 24th October 2007 in Sport

A SECOND former Saints chairman has revealed his "surprise" at the release of a Stock Market announcement promising new investment.

Saints revealed on Monday afternoon that they were in talks with a major UK-based investor.

Though the deal will only go through if the club's main shareholders agree to support it and sell some of their shares, NONE of them had been contacted by the potential investor prior to the statement being released.

"I was very surprised that the club released the statement," said Leon Crouch, who had sat on the club's PLC board when it met to discuss the new financial proposal three days earlier.

"The club's financial advisors Seymour Pierce said they would sound out the major shareholders to see what they think.

"I'm very surprised that has not happened."

Crouch - Southampton Leisure Holdings PLC's second largest individual shareholder with 10 per cent - said he first knew about the mystery new investors at the PLC board meeting.

A third ex-chairman, Rupert Lowe, turned down the chance to be involved in various negotiations, the Daily Echo can reveal.

As of yesterday, Crouch was still waiting to hear from the mystery company, believed to he headed by ex-Manchester City defender Ray Ranson.

For full story see today's Daily Echo.