The Foxes Trust has given a verbal indication to invest £100,000 in New Fox PLC, the company formed to take over Leicester City Football Club.

The Trust has announced that following a meeting with Jon Holmes (The new Chairman) & Tim Davies (the new Chief Exec) a proposal was put before the Foxes Trust Board to give a verbal commitment to invest £100,000 in New Fox PLC. The proposal was accepted.

It means that the Foxes Trust would receive 100,000 shares in the new company, which would represent a 2% shareholding. No-one will be allowed to have more than 5% of the new company.

Foxes Trust has received a copy of the prospectus issued by New Fox PLC & a Foxes Trust representative will attend the open meeting for potential investors on 30th January. If you want to buy shares in the new club, you'll need a minimm of £25,000. A final decision to commit funds to invest in New Fox PLC will be made by the trust Board ahead of the deadline of the February.

The prospectus gives details about the share issue and proposed Board of directors. There are also projections about dosh...including realistic budgeting for if we don't get promoted or if we get relegated again.

The prospectus refers to the Foxes Trust several times and the new Board appear to be serious about including the Trust in their future plans and Boardroom dealings which is good news.

The Trust still wants views from members about whether or not the money should be used to buy shares. The deadline for the questionnaires to members has been extended as certificates and questionnaires are still going out. See www.foxestrust.co.uk for more details. If you haven't received yours yet, e-mail [email protected].

Tell us what you think about this in our FFS Fans Forum.