The future of the Newport Gwent Dragons is likely to decided next month.

The region have issued a brief statement on their website which says the key meeting of Newport RFC shareholders – when they will vote on whether to hand over Rodney Parade to the Welsh Rugby Union as part of the governing body’s rescue plan for the Dragons – is likely to go ahead in the second week of May.

The extraordinary general meeting (EGM) vote needs to be carried by a 75% majority for Newport RFC to give their approval.

The statement says that paperwork outlining details of the vote and further information are being finalised.

It adds: “It is likely that the meeting will be held in the second week of May, with a date to be finalised shortly.

“Aside from the formal circular and notices, there will be an extensive Question and Answer information sheet that addresses a number of matters arising from initial meetings.

“Whilst it is targeted at shareholders, all information will also be placed on the websites of Newport RFC and Newport Gwent Dragons, given the wider interest that exists.”

The WRU announced last month it had taken a step closer to assuming ownership and control of the Newport Gwent Dragons after reaching ‘heads of terms’ agreement.

Under the proposal, the region would be under WRU control, both on and off the field. The WRU would also purchase Rodney Parade.

The targeted completion date is July 1, but the takeover must have approval of shareholders of Newport Rugby Football Club.

WRU chief executive Martyn Phillips warned at the time that without the takeover going through, the Dragons may fold.

He said: “We are not where we want to be with NGD, but it is inconceivable to us that professional rugby in that area could be lost and so we have committed to doing everything possible to ensure its future success.

“All parties recognise that from an NGD perspective significant improvement is required on and off the pitch and that it is now time to take a different approach.

“This investment is equally designed to safeguard Newport RFC and its rich history at Rodney Parade and provides a long term programme where we focus on putting in solid foundations to ensure a sustainable and successful team in the region.

“Without this action the future of both the NGD and Newport RFC is at best uncertain, along with the existence of Rodney Parade.”

But Newport members are understood to remain unconvinced over many issues such as the price their club will receive for selling their ground, the long term security of their club at Rodney Parade after the deal goes through, and whether other debts are to be written off.