It is with regret that Kidderminster Harriers Football Club must report that former Chairman, David Reynolds, has decided to leave the board of Aggborough Holdings Ltd.
David, who was instrumental in launching a rescue package to try to save the Club, believes that his departure may encourage other parties to invest in the Football Club.
Chairman Mark Serrell said: "Without David Reynolds' financial input in 2009, and again in October 2010, Kidderminster Harriers Football Club would no longer be in business.
"David has also waived repayment on all the loans he has given to the Football Club."
He has only ever been interested in ensuring the best for Kidderminster Harriers Football Club, and to this end we have to reluctantly accept the decision that he has made."
Kidderminster Harriers Football Club has this evening discovered the outcome of today's [6 January] hearing with the Football Conference.
The club appeared in front of the Conference Board having accepted charges of Misconduct in accordance with Rule 18, with regards to returns as part of the Financial Reporting Initiative for the periods October-December 2009; January-March 2010 and April-June 2010.
The Conference Board's decision is as follows:
* The Football Club is to be deducted five (5) points from its current League table score.
* The Football Club was fined
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