IN A SENSATIONAL STATEMENT QUEENS HAVE ANNOUNCED THAT ALL LOANS INVOLVING DIRECTORS PAST AND PRESENT HAVE BEEN WAIVERED AND THE CLUB IS NOW DEBT FREE
This will come as brilliant news to all Queens fans considering the club was heading for financial meltdown a couple of years back.
According to Financial statements for the year 31st May a breakdown of the debts were as follows:
Mrs Joan Houliston the widow of the late Keith Houliston - £15,000
NG Blount Limited - £199,270
D.Rae - £240,710
W.J. Hewitson - £70,461
C.Patterson - £40,038
M.Robertson - £10,000
W.J.Hewitson also paid £124,000 to Queens for surplus land which was highly unlikely to have been matched on the open market.
This is a tremendous gesture to all concerned and I hope the fans will show their appreciation by turning up in large numbers to future fixtures.
The club can look forward to a secure future and the plans for ground development can go ahead with confidence.
It has also been announced theat D.Rae and NG Blount have been made honorary directors directors of the club.
Meanwhile Queen can prepare for further financial windfall with bumper Cup ties against Rangers and Hearts in Dumfries and Edinburgh respectively.