JOINT ANNOUNCEMENT, 25.01.05
WREXHAM AFC
Mr. Andrew Smith, Chairman and Managing Director of United Plotowners Associates Ltd (UPA), and Mr. Alex Hamilton are delighted to announce that agreement in principle has been reached to acquire all of Mr. Hamilton's interests in Wrexham AFC and related Freehold Properties.
The agreement is subject to contract and it is intended that contracts will be exchanged within 21 days from today. The agreement will also be subject to approval by the creditors of Wrexham AFC, which is currently in the hands of administrators.
This will take several weeks, but, if the arrangements and proposals are agreed by the relevant parties, Mr. Smith believes that they will ensure the future of Wrexham AFC at the Racecourse Ground for the foreseeable future.
As part of the agreement in principle, the parties accept that no further details of the contemplated transactions will be publicly disclosed or discussed, at least until the transactions are finalised.
Both parties look forward to this process being concluded as swiftly and efficiently as possible, so that the manager and players at Wrexham AFC can concentrate on their "on the field" performance in order to ensure that League One survival is secured this season and the team can build for a successful future.
Alex Hamilton
Andrew Smith
25th January 2005