Further to last weeks’ update regarding a preliminary communication received in relation to our 10.07% shareholding in Sheffield Wednesday PLC, we can confirm that constructive dialogue is ongoing with a potential bidder.

The party has asked for details of what information may be required in order to obtain our shareholding. We have provided a logical assessment of what factors might influence members should we need to ask them to consider relinquishing the organisation's shareholding. It is important to stress that this is not a mandatory list of pre-conditions, and the potential bidder may wish to provide as much or as little information along with a bid as they would like. However, we have consistently suggested that our members are more likely to react positively if as much information as possible can be made available to them at the outset.

Unfortunately, no further details can be given at this stage. We will continue to update members as we are able.