Trust Statement on New Club Ownership Model
The Supporters’ Trust is delighted to confirm that the EFL process for the approval of the sale of a majority shareholding to Huw Jenkins has now been completed.
Huw is now the majority shareholding owner in the Club and will lead the club as Chair.
We thank Trust members for their patience and continued support since our Special General Meeting back at the end of September where we selected Huw as our preferred bidder for majority ownership of the Club.
The Trust retains a significant 27 per cent shareholding in the Club with two director places on the Board. Those two places will be held by current Trust directors Shaun Johnson and Paul Marks, for the time being, and until the Trust holds its election for the two positions. Huw, as the incoming Chair, has asked for some continuity and support as the new arrangements bed down.
The arrangements for the election will be discussed with Trust members in the second part of our AGM (Thursday 25th January at 7.00 p.m. at Rodney Parade) and then approved at a Special General Meeting in April.
Peter Madigan, Mark Crook, Mike Everett and Bob Herrin have all stood down from the Club Board. The Trust would like to thank them for their work and commitment over recent years, and during the takeover process. They will continue to assist and advise Huw during the transition as needed.
This is a landmark day for the Trust and the Club. We welcome Huw to Newport County AFC.
