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Board statement.

On Tuesday morning The Chairman, John BURGESS and Sandra SAUNDERS, Vice Chairman, met with Dave ARCHER and had a frank and open discussion around the concerns outlined in the press release. The details of that meeting have been passed to all Members of the Fleet Supporters’ Trust Board.

Dave confirmed that the wages of all staff had been paid for January and that this should not occur again. He also confirmed that at no time did the medical insurance for players cease although one premium was paid late but the Club were informed that cover remained valid.

He acknowledged that there was amount overdue in respect of Pension payments and this would be rectified in the near future. Payments being made to staff who have left are fairly substantial but these will cease before the end of the season which will ease the financial position.

One of the main reasons for late payments and any cash flow problems is that monies transferred into the UK are subject to checks and even if deposited in a UK bank account they cannot be accessed until compliance is confirmed by the bank.

Dave assured us that Dr Al Humaidi has no intention of selling the Club and intends to remain its owner for many years. Dr Al Humaidi has made substantial monthly payments over the course of this season and even with a reduced budget next season will still need to make a considerable payment each month.

The Board are reassured about the future of the Club and that the financial situation will be much improved next season.