A question for Neil Doncaster

did we get the Safri money all up-front. Or are we now sweating on it like we are with MacKenzie?

"The board of Southampton Leisure Holdings is today providing a Trading Update and Offer Update prior to the release of its financial results for the year ended 30 June 2007.

The Company continues to trade in the current financial year, ending 30 June 2008, broadly in line with the directors' expectations. However, in the absence of significant new investment, the directors would require to trade players during the January transfer window in order to generate funds for use as working capital during the remainder of the financial year. Further cost reduction measures would also be taken.

The sale of players in January would, in the opinion of the directors, be likely to have an adverse impact on the Company's ability to achieve promotion to the FA Premier League.

Whilst the Company's bankers continue to support the Company, they have indicated that they will not passively sit by and watch the liquidity position of the Company deteriorate over the coming year.

The Company remains in discussions with SISU Capital Limited but requires the support of the major shareholders to finalise any transaction with this investor.

The preliminary announcement of the Company's financial results for the year ended 30 June 2007 will be released later this month."

Posted By: The King of Prussia on November 3rd 2007 at 11:30:18

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