Offers should be accompanied by an unconditional bid
bond of 5% of the total value of the tender and be vaild for 180 days from the last date of tender submission.
However, despite "intensive discussions" taking place today and into the night the takeover saga shows no signs of reaching a conclusion soon with Duff and Phelps frustrated in their attempts to get an unconditional bid
on the table.
"By the end of June, I had an unconditional bid
from Nanjing for the whole company," he said.
Majority shareholder Penman has accepted an unconditional bid
of pounds 300,000 and will officially hand over the club at the start of the week.
He said: "We have made it crystal clear that to announce a preferred bidder we need definitive, unconditional bids
on the table."
Bob Braddock,centre co-ordinator, said:``We have received six offers and split them into conditional and unconditional bids