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Guest billsaja

Talking sense about Club 9 here. 10 mill over 2 seasons isnt bad

THEY DON'T HAVE 10 MIL.......Jesus Wept......they have TWO MILLION if that, and are hoping to raise the other 8.

It's like 2008 never happened. They have spent 7+ months trying to raise money, come up with (at most) 2mil (John P's interview the other day he said "if the initial money doesn't arrive" suggesting that isn't even solid yet) and are HOPING they can raise the rest.

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Guest billsaja

But he doesn't want an EGM...

Daz already explained why EGMs are pointless.

This Board does need to go though, he is bang on there

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THEY DON'T HAVE 10 MIL.......Jesus Wept......they have TWO MILLION if that, and are hoping to raise the other 8.

It's like 2008 never happened. They have spent 7+ months trying to raise money, come up with (at most) 2mil (John P's interview the other day he said "if the initial money doesn't arrive" suggesting that isn't even solid yet) and are HOPING they can raise the rest.

I know what youre saying but surely on that basis it could have been negotiated on a pro rata shares for cash basis

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Guest Willie Henderson

wilko's a proper wee wee tail " i believe there is no better person qualified" roger OFF

Think you'll find he meant currently at the club.

Grow up!

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This is why.....

As for an EGM - I think you need to consider the following:

1. You need 10% of the shares to call one - yes, we could if we had a mandate to do so; but

2. If the resolution would be a no-confidence vote in various board members then it has no chance of success because:

a. the individuals do not have to speak at the EGM - so it might be a good way for shareholders to spout off, but apart from costing the club money, there is little point in calling it just for this without a chance of it being able to achieve its objective

b. Historically, only 60-65% of the shareholders vote and recently it appeared that DA's circa 10% has been abstaining (Chesterfield implications??) so that will now likely be a voting turnout at best of just 55%

c. Of that 55%, Hulley and Addy control around 21%, and Board proxies would account for say around another 7% - so around 28% out of say 55% would be certain to vote against

d. Add to that those who vote on the day and even if that were 75% of those voting 'our' way, it is impossible to get sufficient votes - in any case it is likely in c. above that the result would be certain even before the EGM

Why go into a battle you have no chance of winning, won't be guaranteed a single answer, and in so doing provide the usual quarters with ammo against Wednesdayite for fracturing the club (even though we/they should know that as fans we only have the club's short and long term interests at heart).

So, it is much better to try first to communicate across a table than it is from the floor of a hostile EGM.

The FIRST thing we must do is meet with the Board urgently face to face and see what they have to say and what their plans are.

We can draw our conclusions from such a meeting - everything else will follow.

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The FIRST thing we must do is meet with the Board urgently face to face and see what they have to say and what their plans are.

We can draw our conclusions from such a meeting - everything else will follow.

Let's remember Daz - this board has NEVER entered into meaningful dialogue with W'ite. They only did it when Lee was there, I'm not optimistic of it happening now Lee has gone.

With the risk of repeating myself, could an EGM be called to elect a new board member??

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Could an EGM be called to get someone elected to the board?

Regardless of the reason for an EGM the voting info set out in Daz's post above seems to point to us being in a world of poo poo with no real way out. If the main shareholders decide they'd rather see the club die than do anything proactive then we will die. They hold all the power dont they? That thought scares the living wee wee out of me so I'd love it if someone could prove my theory wrong. Please.

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Could an EGM be called to get someone elected to the board?

In principle yes.

But the point is that why call an EGM when we don't know what their view is. What happens if in our meeting with the 3 Directors they agree to certain things we seek? We'd have looked prize idiots calling an EGM for something they will go with anyway.

We are all as frustrated and angry as everyone else. But there's still a right way to go about things and jumping in head first might mean we resurface with a lot of egg on our faces. There is a hell of a lot of work going on behind the scenes - I know because I'm seeing it all and know how much time it is taking me personally - let alone some of the other Wednesdayite Directors.

We need to hear from them first before we can decide on any next steps and we fully understand that this dialogue needs to take place urgently.

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Regardless of the reason for an EGM the voting info set out in Daz's post above seems to point to us being in a world of poo poo with no real way out. If the main shareholders decide they'd rather see the club die than do anything proactive then we will die. They hold all the power dont they? That thought scares the living wee wee out of me so I'd love it if someone could prove my theory wrong. Please.

So we sit and do nowt...

It's one action that hasn't been tried before. I'm certain that W'ite / the SA can identify a fan or two with the right acumen to make a difference if elected to the board.

Identify them, put them forward - then see what reasons our board would have to reject them.

It would show the SA and W'ite were doing something POSITIVE to help the club.

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In principle yes.

But the point is that why call an EGM when we don't know what their view is. What happens if in our meeting with the 3 Directors they agree to certain things we seek? We'd have looked prize idiots calling an EGM for something they will go with anyway.

We are all as frustrated and angry as everyone else. But there's still a right way to go about things and jumping in head first might mean we resurface with a lot of egg on our faces. There is a hell of a lot of work going on behind the scenes - I know because I'm seeing it all and know how much time it is taking me personally - let alone some of the other Wednesdayite Directors.

We need to hear from them first before we can decide on any next steps and we fully understand that this dialogue needs to take place urgently.

Daz - I agree with your stance. YES the board must be given a chance to speak / put forward their plans. BUT, this can't go on indefinately. It needs action fast.

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