MARGATE have confirmed the winding-up petition over the club has been dismissed.

A club statement said: "The action taken by the court followed the lodging of a six figure sum with our supervisor, Langley & Partners.

"This payment included the settlement of all small creditors included in the CVA. The directors would like to place on record their thanks to their creditors for their cooperation and support."

The club have also announced the appointment of a new director, local businessman Terry Painter, who will have responsibility for commercial matters.