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Saints directors: Ranson told SISU proposal will succeed
RAY Ranson has informed former Saints directors that he was told the majority shareholders would almost certainly agree to SISU’s takeover plans.
As it turned out, Michael Wilde, Leon Crouch and Rupert Lowe were all sceptical at first – and none of them actually got to ever meet Ranson to discuss the proposals further.
Crouch and his former football board director Mary Corbett tried to meet the former Manchester City defender, but it was Ranson who cancelled some planned meetings.
Crouch said: “I knew the executives had been talking to investors but I didn’t know who. When it was presented to us I said ‘it will need 75 per cent of shareholder approval’.
“I asked if major shareholders had been consulted, but I hadn’t been consulted and neither had Rupert Lowe or Michael Wilde.
“Those two didn’t want to accept the offer, but I tried to arrange a meeting with Ray to see if any changes could be made to the offer.
“Ray Ranson twice cancelled a meeting with me, because I at least wanted to try and negotiate.
“I have since met Ray at games and he said he was told it was a foregone conclusion the SISU bid would be accepted by the shareholders.”
Corbett spoke to Ranson the day after SISU had completed their takeover of Coventry in December 2007 as Saints, ironically, were visitors to the Ricoh Arena.
She was also told that Ranson had been informed that SISU’s bid was likely to meet with shareholder approval.