Was there an agm Tuesday?

[betts21]

If so any info give that can be made public?

[Robbo]

My opinion is no longer important. My views the same.

I tried to warn what the outcome might be ( which may look ok in the short term ) but I think giving power to ANY individual is NEVER in any organisations best interests.
Mr Fulton Senior propped the club up by lending it huge amounts of money. That was always going to be a problem.
I think the club should have re structured. We should of balanced the books.

Anyway The Fulton family wanted their money back so took 49000 more shares in lieu of the 2 million pounds.
It means they have 55000 of the 80000 issued share capital.
In effect what they want happens.
I am sure the Fultons are in this for the club and not to make a quick buck. Its just the lack of democracy going forward that concerns me.
Anyway that's the outcome of the meeting.
robbo

[casgadger]

My opinion is no longer important. My views the same.

I tried to warn what the outcome might be ( which may look ok in the short term ) but I think giving power to ANY individual is NEVER in any organisations best interests.
Mr Fulton Senior propped the club up by lending it huge amounts of money. That was always going to be a problem.
I think the club should have re structured. We should of balanced the books.

Anyway The Fulton family wanted their money back so took 49000 more shares in lieu of the 2 million pounds.
It means they have 55000 of the 80000 issued share capital.
In effect what they want happens.
I am sure the Fultons are in this for the club and not to make a quick buck. Its just the lack of democracy going forward that concerns me.
Anyway that's the outcome of the meeting.
robbo

If that is the case they would need the approval of the 7 directors and board members. There are over 30 shareholders and the Fultons only had 18% of the holding (interestingley Richard wright has over 19%) if they have managed to dilute the shareholding (in effect trippling the number of shares) then every other shareholders values have dipped by 2 thirds!!! Wonder if it was a case of accept or we call the loans in????

[casyorkie]

I'm slightly confused I thought the Fultons were majority shareholders before.i understand they may have had a charge on the ground against loans but I'm very surprised they lent the club so much.

From what has been said they now have just short of 68% of the club.

The headline on the website I do believe is very misleading when it mentioned over 80% support on motions but doesn't mention what they were, they should mention what changes have happened.

[casyorkie]

My opinion is no longer important. My views the same.

I tried to warn what the outcome might be ( which may look ok in the short term ) but I think giving power to ANY individual is NEVER in any organisations best interests.
Mr Fulton Senior propped the club up by lending it huge amounts of money. That was always going to be a problem.
I think the club should have re structured. We should of balanced the books.

Anyway The Fulton family wanted their money back so took 49000 more shares in lieu of the 2 million pounds.
It means they have 55000 of the 80000 issued share capital.
In effect what they want happens.
I am sure the Fultons are in this for the club and not to make a quick buck. Its just the lack of democracy going forward that concerns me.
Anyway that's the outcome of the meeting.
robbo

How would you have restructed the club when it clearly has the Fultons a lot to thank for propping the club up when we were short of money.

I know they could always sell the ground to repay the debt but they could also have said no to lending the club money and where would we be then.

[tigerfeat]

There wouldn't be a club or not one in the position it is now without the fultons i would take that as any starting point of the discussion

[mystery]

There wouldn't be a club or not one in the position it is now without the fultons i would take that as any starting point of the discussion

exactly

[yorky]

Roman Abramovich owns chelsea & if he called his loans in chelsea would be looking for someone to take the club over with a huge debt to pay off & i assume we are in a similar position so i dont see what your problem is Robbo. also you said a director & a reporter were banned from the ground, did you find out why?

[Robbo]

casgager that was about it.

Mystery.........the club lost money each year because in my opinion it was not being run correctly. I said as much but everyone said it was bad blood between RW and me.
It was simply that under their stewardship we were relegated twice and were loosing 300/500k a year.
That should have been addressed by the Chairman and CEO.
However we are where we are.
yorky the director banned from both the AGM ( which is about to be challenged in the courts) and the ground remains banned. He clearly upset someone on the BOD .
As this may well become a legal matter I prefer to avoid.

[Robbo]

My opinion is no longer important. My views the same.

I tried to warn what the outcome might be ( which may look ok in the short term ) but I think giving power to ANY individual is NEVER in any organisations best interests.
Mr Fulton Senior propped the club up by lending it huge amounts of money. That was always going to be a problem.
I think the club should have re structured. We should of balanced the books.

Anyway The Fulton family wanted their money back so took 49000 more shares in lieu of the 2 million pounds.
It means they have 55000 of the 80000 issued share capital.
In effect what they want happens.
I am sure the Fultons are in this for the club and not to make a quick buck. Its just the lack of democracy going forward that concerns me.
Anyway that's the outcome of the meeting.
robbo

If that is the case they would need the approval of the 7 directors and board members. There are over 30 shareholders and the Fultons only had 18% of the holding (interestingley Richard wright has over 19%) if they have managed to dilute the shareholding (in effect trippling the number of shares) then every other shareholders values have dipped by 2 thirds!!! Wonder if it was a case of accept or we call the loans in????

There are approx. 150 shareholders.
about 1/3rd of the shares did not vote that's about 10,000 shares.
there were 31000 before the meeting
Approx 6000 held by RW and 6000 held by the Fulton family.
The rest of your maths is pretty close.
Of course the value of the Tigers may well jump up with a new ground given to them.

[yorky]

casgager that was about it.

Mystery.........the club lost money each year because in my opinion it was not being run correctly. I said as much but everyone said it was bad blood between RW and me.
It was simply that under their stewardship we were relegated twice and were loosing 300/500k a year.
That should have been addressed by the Chairman and CEO.
However we are where we are.
yorky the director banned from both the AGM ( which is about to be challenged in the courts) and the ground remains banned. He clearly upset someone on the BOD .
As this may well become a legal matter I prefer to avoid.

ok Robbo i understand, many thanks.

[fords]

casgager that was about it.

Mystery.........the club lost money each year because in my opinion it was not being run correctly. I said as much but everyone said it was bad blood between RW and me.
It was simply that under their stewardship we were relegated twice and were loosing 300/500k a year.
That should have been addressed by the Chairman and CEO.
However we are where we are.
yorky the director banned from both the AGM ( which is about to be challenged in the courts) and the ground remains banned. He clearly upset someone on the BOD .
As this may well become a legal matter I prefer to avoid.

ok Robbo i understand, many thanks.

Robbo is correct. I have seen the accounts for last few years. We were loosing what he says and jack fulton loaned the club the cash to keep us going.

Its loaned against the clubs assest (i.e. ground) and it was about 2.25million i think from memory the club owes the fultons. They go down as short term loans on the books.

[yorky]

so the sale of the old ground "when we move to the new free of charge ground" will clear the clubs debts?

[onetiger]

so the sale of the old ground "when we move to the new free of charge ground" will clear the clubs debts?

it should cover it easy may be even a bit over to go in kitty ...then move to new ground debt free

[yorky]

so the sale of the old ground "when we move to the new free of charge ground" will clear the clubs debts?

it should cover it easy may be even a bit over to go in kitty ...then move to new ground debt free

wonderful, lets hope for a better debt free future.

[Max n paddy]

Hi,

Just a few observations and questions if anyone can answer......

Did the ground get discussed ? If so any news on dead lines ? Etc

Was there a full turn out of directors ? Was there any talk of the future plans to progress into the top 4 etc ?

Did anyone talk about future plans and ambitions at all ?

If it's true what Robbo said , why has a director been let's say , expelled lol and banned from the ground ?

Just a thought because I'm not up with all this type a stuff, if we go to the new ground ,and we are debt free , will this have any impact on share value, who ever the shareholders my be and however they obtained them ?

I'm not sure if anyone attended the agm, was it well attended ? And was it a positive meeting with a optimistic and a go forward type of drive to it ? Of the directors, who spoke well and was very informative ?

Any feed back would be good.

Cheers

[Robbo]

Hi,

Just a few observations and questions if anyone can answer......

Did the ground get discussed ? If so any news on dead lines ? Etc NO But there was a suggestion we keep WR as a training facility.

Was there a full turn out of directors ? YES ALL THERE ...with one exception
Was there any talk of the future plans to progress into the top 4 etc ? NO

Did anyone talk about future plans and ambitions at all ? New ground happening not discussed

If it's true what Robbo said , why has a director been let's say , expelled lol and banned from the ground ? Only they can answer that.

Just a thought because I'm not up with all this type a stuff, if we go to the new ground ,and we are debt free , will this have any impact on share value, who ever the shareholders my be and however they obtained them ?
YES IF YOU ADD 10 MILLION to the companies value someone will do very well.

I'm not sure if anyone attended the agm, was it well attended ? YES a good turn out
And was it a positive meeting with a optimistic and a go forward type of drive to it ? Apart from my concerns and a few others little was said.
Of the directors, who spoke well and was very informative ? CEO and Ian Fulton spoke.

Any feed back would be good.

Cheers

[greenhouse]

if we ever get the new ground i assume we will sell the old ground and become debt free. does anyone see any new investors coming in ? or will they not be be allowed to.

[Max n paddy]

if we ever get the new ground i assume we will sell the old ground and become debt free. does anyone see any new investors coming in ? or will they not be be allowed to.

That was I was getting at too, with a new ground on the horizon who is pushing us on into the next century and in charge of the forward thinking....

I think generally the coach has delivered his part of the bargain.... what's the results-discussion , and then what's the plan going forward, it would be nice just to know ,but wrongly I thought the Board would have briefed the share holders on the road ahead..... eg will we ever see the quality of the likes of Full back Gary Belcher and players like him..

It's not a moan, the DP era is probably the best in recent times and was just wondering if we were going to push on, I thought that type of stuff would have been discussed at that level that's all...

I suppose we will have to keep on listening to the "in the know" bunch ..

[greenhouse]

if we ever get the new ground i assume we will sell the old ground and become debt free. does anyone see any new investors coming in ? or will they not be be allowed to.

That was I was getting at too, with a new ground on the horizon who is pushing us on into the next century and in charge of the forward thinking....

I think generally the coach has delivered his part of the bargain.... what's the results-discussion , and then what's the plan going forward, it would be nice just to know ,but wrongly I thought the Board would have briefed the share holders on the road ahead..... eg will we ever see the quality of the likes of Full back Gary Belcher and players like him..

It's not a moan, the DP era is probably the best in recent times and was just wondering if we were going to push on, I thought that type of stuff would have been discussed at that level that's all...

I suppose we will have to keep on listening to the "in the know" bunch ..

there must be someone out there who would love to take us to that next level.if there is no debt will there be anything to stop them or will it be still a closed shop.