Four East Fife directors are poised to complete a takeover of the Scottish League Two club.
Jim Stevenson, Dave Marshall, John Barclay and John Donaldson announced on the club website that terms had been agreed with the majority shareholder.
Loraine Johnston Twigg said: "The heads of terms for the purchase of my shares in East Fife Football Club on behalf of the directors are with my solicitors.
"The deal is acceptable subject to contract."
East Fife have announced a public meeting on Monday 10 November at their Bayview Stadium in Methil.