Update

 

TIDMSOO 
 
RNS Number : 1664R 
Southampton Leisure Holdings PLC 
24 April 2009 
 

 
 
 
 
Southampton Leisure Holdings Plc 
 
 
The joint administrators ("the Administrators") to Southampton Leisure Holdings 
plc ("the Company"), the AIM-listed holding company that owns Southampton 
Football Club ("the Club") today issued the following response to the findings 
of the independent forensic report commissioned by the Football League ("the 
League"). 
 
 
The Administrators and the Club were informed of the League's intention to issue 
a release on the findings of the independent forensic report five minutes before 
its publication, allowing no time for consultation and both the Administrator 
and the Club to inform fans, players and staff. These findings have resulted in 
the League applying a 10 point penalty to the Club. The deduction of points will 
take effect either: 
 
 
  1.  in the current season if the Club avoid relegation; or 
  2.  next season, if the Club does not avoid relegation. 
 
 
 
The Administrators are of the opinion that an incorrect conclusion has been 
reached. The football regulations do not apply to the circumstances surrounding 
Southampton Football Club. This is a view shared by the lawyers and advisers to 
both the Club and the Administrators. 
 
 
With regard to the issue surrounding non-cooperation by the Company to the 
League's investigation, this allegation is not accepted. A different scope of 
investigation was issued to the Club and to the accountants instructed by the 
League which resulted in questions being raised outside of the scope of the 
investigation.  This matter had been raised by the solicitor acting for the Club 
and no response has been received. Both the Club and the Administrator were 
unaware that the investigation had been concluded. 
 
 
Both the Club and the Administrators are now considering their positions and 
expect to launch an appeal. 
 
 
 
 
For further information, please contact: 
 
 
+-----------------------------------------+------------------------------------+ 
| Begbies Traynor                         |                                    | 
+-----------------------------------------+------------------------------------+ 
| Mark Fry / Kirstie Provan               | 020 7398 3800                      | 
+-----------------------------------------+------------------------------------+ 
| Smithfield                              |                                    | 
+-----------------------------------------+------------------------------------+ 
| John Kiely/Will Swan/Will               | 020 7360 4900                      | 
| Henderson/Andrew Wilde                  |                                    | 
+-----------------------------------------+------------------------------------+ 
| Seymour Pierce                          |                                    | 
+-----------------------------------------+------------------------------------+ 
| Paul Davies                             | 0207 107 8000                      | 
+-----------------------------------------+------------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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