SAINTS chairman Rupert Lowe tonight dramatically ended his ten-year reign at St Mary's by announcing his resignation.

After a day of talks in London involving Saints' board and representatives of Michael Wilde's camp, the news was broken at 5.30pm this evening that the controversial Saints' chairman was stepping down along with four other directors.

They are Andrew Cowen, Guy Askham, Michael Richards and David Windsor Clive, who have resigned from the club with immediate effect.

As a result, Ken Dulieu, Michael Wilde, Jim Hone, Lee Hoos, Patrick Trant and Leon Crouch have been appointed as directors of Southampton Leisure Holdings PLC.

This follows the exclusive story revealed by the Daily Echo today that Lowe was putting the finishing touches to resigning after accepting they would lose an EGM vote to millionaire Michael Wilde on Monday. That EGM at St Mary's has now been cancelled.

Rupert Lowe was this evening holding a press conference at St Mary's to formally announce his resignation and explain the reasons behind it.

The news was prompted by the declaration on Thursday that Leon Crouch, Saints; second largest shareholder, would be lending his support to Michael Wilde's camp who could therefore count on more than 40 per cent of shareholders' support at the EGM.

On the club website, Lowe said: "In view of the voting positions established since the announcement of the EGM on June 5, we have come to the reluctant conclusion that it is in the best interests of the company to stand down.

"We have had ten interesting years at the club and leave behind us the legacy of a modern stadium.

"We would like to thank everyone at the club for their hard work over this period and for those who have backed us with their votes over the last few weeks.

"The interests of the company and the club come first, hence our action today. We wish George Burley and the team good fortune in their hunt for promotion and George Prost another successful year with the Saints."

Don't miss the Daily Echo tomorrow for the most detailed and informed report on tonight's press conference which we will be updating on the website.