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Former Southampton chairman Rupert Lowe has launched a bid to regain control of the relegation threatened club which is likely to succeed. However, the current board has criticised the timing of the move with the team so perilously close to being relegated from the Championship. Lowe, who accused the club of 'poor leadership and weak management', and Michael Wilde head a group of shareholders who have called an EGM to remove all but one of the board. The only board member who would remain under their plan is finance director David Jones who previously served under Lowe. Jones was the only member of the pro-Lowe regime who was kept on by Michael Wilde following the takeover in June 2006. With 42.38 per cent of the vote already secured, it is almost beyond doubt that Lowe and Wilde will win the EGM. The current board could stand down immediately, as they are faced with inevitable defeat, but they are understood to be prepared to tough it out for a few more weeks. They have 21 days in which to set a date for the EGM, which must be held within 28 days. This means that they could hold off until May 19th, 15 days after the end of the season. However, it is thought that the most likely scenario is that they will stand aside before any EGM, but only after the end of the season.
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