On the afternoon of Tuesday 1st July, Wednesdayite received a formal written bid for our shareholding from Geoff Sheard representing a Swiss based trust. We had earlier met with our legal advisers and the letter was immediately referred to them for their advice. We will act in accordance with any advice given with the full intention of proceeding to a member ballot on this issue.
 
With immediate effect and for the avoidance of doubt, only full members who were paid up prior to this notice are eligible to vote in any ballot. We will continue to accept memberships as normal but such memberships will not be eligible to vote in any ballot in respect of this bid.
 
Should the legal advice confirm that a member ballot can proceed as hoped, then at least 14 days notice must be given to members after we have ensured that we have prepared all the necessary paperwork. We estimate that the preparation will take around 7 working days.