AGM for 2017

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Robbo
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Re: AGM for 2017

Post by Robbo » 26 Nov 2018, 19:58

Well it’s early days but I do not like what is proposed at the forthcoming meeting.
The highlights are.
Approx 419000 shares to issued to Ian and Janet.
A change in the articles of the club.

This rather over shadows the excellent financial year we had in2017.

There are no explanations as to why these shares are being issued at 10p 41900 pounds
There is no explanation as to why the articles are being changed other than to allow this to happen.

I am reserving judgement but this has a nasty smell about it.

As it was before there was 80,000 shares and approx 32000 issued

The remaining 48000 were given to Ian and Janet as security for the loan.
The loan was not cancelled.
Now we are suggesting 500,000 shares of which about 474,00 will be with the Fulton’s.
That’s 94% of the issued shares

Let’s hope it’s not what I think.
Can anyone wanting a meaningful discussion with me contact me directly rather than on the board please.
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Re: AGM for 2017

Post by Johnlewis1920 » 27 Nov 2018, 11:55

The Fulton family at present have total controle of the club now in voting rights
The only reason to alter the share issue and only the Fulton’s can aquire more shares is to raise there percentage of there ownership of the club which opens up a number of caveats all of which are in the Fulton’s favour and not the clubs or the rest of the shareholders best interest
The new generation Fulton family appear not to have the same affiliation to Castleford Tigers as there parents as they have already threatened to call in the loan if they did not get there way that would have basically closed the club in my opinion they have tarnished the good name Fulton
COYF

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Re: AGM for 2017

Post by derbystiger » 27 Nov 2018, 13:31

Johnlewis1920 wrote: The new generation Fulton family appear not to have the same affiliation to Castleford Tigers as there parents
And there seems to be the biggest potential issue in my opinion

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Re: AGM for 2017

Post by tigerfeat » 27 Nov 2018, 15:48

There's nothing wrong with someone having nearly all the shares as long as they have the best interest of the club at heart even if it's just so they can make more money with the club being successful
Really don't like the threating to call the loan if they didn't get what they want not good if that's true looking ahead to what might happen somewhere down the line
I remember when the new owner took over from his dad he said something along the lines of ..if anybody thinks I would ever do anything to the detriment of the club knowing how much the club meant to my parents they are very mistaken let's hope that always remains the case
The measure of who we are is what we do with what we have
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Re: AGM for 2017

Post by Lofthouse Tiger » 27 Nov 2018, 18:01

Obviously not a man if his word then. To threaten the club with closure, pretty much, if he didn’t have his own way is ludicrous.

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Re: AGM for 2017

Post by Lofthouse Tiger » 30 Nov 2018, 15:33

So yet again shares are to be “given to the remaining Fulton’s and the loan will stand? So again who has suggested this is done? Who will get a vote on this? We’re the shareholders consulted? Appears not. Is there any way this can be voted on and not carried?

Will all these “Additional free shares” benefit the club in any way at all? Will the future of the club be safe with one or more shareholders being given what they want when they feel like it? If someone wants the control of the club why isn’t he/she “Buying the remaining shares from other shareholders? They aren’t worth the paper they are written on. Ok so what is the point of the other shareholders in a situation like this one?

Something does not appear to be right here.

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Re: AGM for 2017

Post by Oldcasman » 30 Nov 2018, 16:28

Just curious if the new stadium is built at no cost to the club will the Fulton’s own it ?

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Re: AGM for 2017

Post by yorky » 30 Nov 2018, 17:32

Oldcasman wrote:Just curious if the new stadium is built at no cost to the club will the Fulton’s own it ?
something i have brought up several times, i hope that if the new ground ever gets built, then who ever owns the old ground will get their share equivalent in money from the money generated by the sale. the new ground should be owned by castleford rugby league club & not individuals :roll:

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Re: AGM for 2017

Post by Lofthouse Tiger » 30 Nov 2018, 17:46

Based on what we are hearing, presuming it is correct, then would anyone be surprised if it ended up in the hands of any individual or two maybe?

Some people seem to have a habit of picking things up for free these days.

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Re: AGM for 2017

Post by tigerfeat » 30 Nov 2018, 17:57

I'd be more concerned what would happen if the new ground dosnt get built which must be odds against at this moment in time
The measure of who we are is what we do with what we have
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Re: AGM for 2017

Post by Robbo » 01 Dec 2018, 17:48

Any assets are owned by the shareholders.

If the latest proposal goes through it will look like this

before the last issue we had ( approx. figures)
32000 issued shares

Biggest holders were
Fultons 6500 20%
R Wright 6000 18%
others 20,000 62%

We now have 80,000 shares
Fulton family 54000 68%
Richard Wright 6000 7%
Others 20,000 25%

Proposed if we are reading it correctly

Fulton family 474,000 94.85%
Richard wright 6000 1.15%
others 20,000 4%

And if anything happens to Ian or Janet Fulton the DEBT is payable immediately.

Watch this space as this may upset even the biggest Fulton fans who remember Loaned never gave this money to Cas and currently taking interest as well as having control.
The question as to what happens once the loans are paid off is still to be clarified.
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Re: AGM for 2017

Post by casjunction » 02 Dec 2018, 12:57

My interest in Cas lies with what happens on the pitch.
These last few seasons have been the most exciting.
Shame Jack is not here to witness it.
I am not privy to what happens in the boardroom.
So have no special insight.
I do find it disappointing that a board member see his only avenue of communication is on a fans forum.
It either reflects badly on the boards conduct or the director.
Where ever the fault lies the answers will not be found on this forum.
I have taken issue in the past on Robbos negativity.
I accept if his version of events are correct it is not conducive to good relationships and seems at odds with what we are told is the club's philosophy.
If the usual approaches are failing an alternative strategy
needs to be taken.
That aside Season's Greetings to all yes even you Robbo as a supporter and investor without you there would be no club.
Let's enjoy the ride whilst we can.

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Re: AGM for 2017

Post by Robbo » 02 Dec 2018, 14:20

Robbo wrote:Any assets are owned by the shareholders.

If the latest proposal goes through it will look like this

before the last issue we had ( approx. figures)
32000 issued shares

Biggest holders were
Fultons 6500 20%
R Wright 6000 18%
others 20,000 62%

We now have 80,000 shares
Fulton family 54000 68% 60000 74.25%
Richard Wright 6000 7% 600 .75%
Others 20,000 25%

Proposed if we are reading it correctly

Fulton family 474,000 94.85% 480,000 95.5%
Richard wright 6000 1.15% 600 .50%
others 20,000 4%

And if anything happens to Ian or Janet Fulton the DEBT is payable immediately.

Watch this space as this may upset even the biggest Fulton fans who remember Loaned never gave this money to Cas and currently taking interest as well as having control.
The question as to what happens once the loans are paid off is still to be clarified.
robbo

PLEASE SEE ABOVE.UPDATED
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Re: AGM for 2017

Post by Robbo » 02 Dec 2018, 14:20

casjunction wrote:My interest in Cas lies with what happens on the pitch.
These last few seasons have been the most exciting.
Shame Jack is not here to witness it.
I am not privy to what happens in the boardroom.
So have no special insight.
I do find it disappointing that a board member see his only avenue of communication is on a fans forum.
It either reflects badly on the boards conduct or the director.
Where ever the fault lies the answers will not be found on this forum.
I have taken issue in the past on Robbos negativity.
I accept if his version of events are correct it is not conducive to good relationships and seems at odds with what we are told is the club's philosophy.
If the usual approaches are failing an alternative strategy
needs to be taken.
That aside Season's Greetings to all yes even you Robbo as a supporter and investor without you there would be no club.
Let's enjoy the ride whilst we can.
Truth is always best !

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Re: AGM for 2017

Post by Lofthouse Tiger » 02 Dec 2018, 14:46

[quote="casjunction"]My interest in Cas lies with what happens on the pitch.
These last few seasons have been the most exciting.
Shame Jack is not here to witness it.
I am not privy to what happens in the boardroom.
So have no special insight.
I do find it disappointing that a board member see his only avenue of communication is on a fans forum.
It either reflects badly on the boards conduct or the director.
Where ever the fault lies the answers will not be found on this forum.
I have taken issue in the past on Robbos negativity.
I accept if his version of events are correct it is not conducive to good relationships and seems at odds with what we are told is the club's philosophy.
If the usual approaches are failing an alternative strategy
needs to be taken.
That aside Season's Greetings to all yes even you Robbo as a supporter and investor withoutyou there would be no club.
Let's enjoy the ride whilst we can.[/quote

That’s a great approach, leave it to the people in charge to do as they please. We have already heard how the current chairman held a gun to the clubs head to get his own way. Had the people involved, however many that is, not agreed then the debt owed would be called in. Then there would be no club. Then what?

We may not be on the BOD or shareholders but if we the fans disappear because of one persons greed and selfishness then where would that person be then?

If the team have a poor season or two then the gates will drop, this happens everywhere. If we arent challenging for trophies then attendances will drop. Where will the money these fans spend come from then?

We already saw a drop in gates and we won the LLS playing the best rugby most of us have ever seen. So why would it be any different if we are knocked out of the CC first round we enter and don’t finish in top 5?

We have seen a quote that says the current chair would not do anything detrimental to the club after all the previous chair did. Is that not what is happening just now?

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Re: AGM for 2017

Post by casjunction » 02 Dec 2018, 16:59

I have no influence over the business.
I am old enough to realise what l can and cannot change.
I am a former sponsor and watched the team for decades.
I have no connection to Castleford.
I would be grateful to know who,or her than the directors can influence the board.
Indeed judging from Robbos comments the have little or no influence.
People can interpret my comments to suit their opinion.
However it does not deny me the right to have an opinion.
Once more peace on earth(especially in The Tigers Boardroom!)

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Re: AGM for 2017

Post by casjunction » 02 Dec 2018, 17:12

Just as an aside.
My support has never wavered even in the lean years.
Sport is now a business more reliant on sponsorship and TV income than on spectators.
I hope Robbo gets the board meeting he so desires.
I hope all his worst fears are dispelled.
I hope all those who seek argument for arguments sake get to meet up with one another what a joyous gathering that would be

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Re: AGM for 2017

Post by Lofthouse Tiger » 02 Dec 2018, 18:12

Nobody is questioning anyone’s support of the club/team through good or bad times.

People who contribute on a forum do so for discussion mostly about what is happening within the club and more often about what goes on with the team on the field.

You don’t need to have a connection with the town to be seen as a supporter. We have many many fans that are not from Cas or ever lived there.

TV money and sponsors are not the only revenue that counts. 4,000 season tickets, almost, at junior prices would generate over £300,000 or £920,000 if all adults. Somewhere in between is more realistic. Could any SL club survive without that? Game day with a crowd of 8,000, just a number, at an average of £15 would see another £60,000 per game x 13 would be almost another £800,000. These may be lower, may be higher but a rough estimate. Do you feel this is not very important?

If we drop down the table and don’t compete for top bids then these figures will decrease, we saw a decrease after we won the LLS so a season or two with not much would surely be the same. Fans are a big part of why a club survives and why a club can continue to grow and compete. If these fans are not there, for whatever reason, then what would happen to the club/team? Add to this the merchandising revenue that fans spend then I am sure that is more than or very close to more than we get from Sky or sponsors.

Don’t under estimate what the fans bring and spend to keep the club going.

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Re: AGM for 2017

Post by duke street 10 » 02 Dec 2018, 21:19

These developments are worrying. What i would like to know is was there any attempt to sell those shares and get some much needed funds into the club before handing them to the Fultons?

Should one or both of the Fultons wake up one morning and call in their inheritance, would they sell their shares at the same value they acquired them? Then there is the matter of the ground.

Questions should be asked at the AGM.

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Re: AGM for 2017

Post by Lofthouse Tiger » 03 Dec 2018, 15:12

More shares will not be made available to buy for anyone outside the club because that will mean less money to share with the current crop.

If any shares were “sold” to there they would be worth a fart because you wouldn’t get any rights with them. Who do you know is stupid enough to give their money away for nothing in return.

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