THE Newport County Supporters’ Trust have responded to a column by football writer Michael Pearlman in yesterday’s Argus.

“Whilst the Trust has no wish to have a public row with Michael Pearlman and have been grateful for the support of Kevin Ward, the editor, it is important that a response is provided given the fact the Trust and indeed the club is less than 10 days away from the most important juncture in its history.

The Trust is determined that the process is not derailed, despite a number of attempts over the past few weeks and would appeal to true supporters to continue to provide the support it has since the inception of the process.

Addressing the rather ill-informed and speculative article. The Trust is still progressing towards the launch date of August 27 and has a key milestone date this Friday when the Financial and Legal due diligence reports will be delivered.

On the launch date supporters will be able to digest the Share offer document and this will include:

  • what the target figure is
  • what will the funds be used for
  • what will be paid back and on what terms
  • what the interim structure is
  • Timetable for elections

In essence it will be transparent. Why? Because we are asking for people to invest in the future of our club and it is paramount this is followed.

It is evident from some of the emerging findings and perilous financial position, that the club has not been managed for a considerable period of time and as a result finds itself in a position where firm foundations need to be put into place.

The major shareholder and owner was made aware of these emerging findings and acted in what he thought was the best interests of the club by asking four members of the Trust to step up to the Board.

In addition it was his view that the information required for the due diligence exercise would be more readily accessible with this position.

There was one member who met the Football League criteria in Tony Pring. Whilst Tony would not have chosen to be in this position he acted in the best interest of the club knowing there was not an alternative and more so the impact of the club if he didn't.

In terms of representing the true supporters the Trust has and will continue to engage with the supporters through the groups.

That engagement continues tonight where the Trust will provide an update and seek feedback on a number of issues. This can not happen without everyone’s support.

We are committed to the values we outlined in our meeting on 24th July and will be guided by these at our share launch event.”