AGM for 2017

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Flat Capper
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Re: AGM for 2017

Post by Flat Capper » 06 Nov 2018, 13:24

Simple question; are CTRLFC breaching any laws by not having an AGM in time and if so, who is responsible for Policing the law?
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Re: AGM for 2017

Post by tigerfeat » 06 Nov 2018, 13:43

It used to be that even if it was only a small percentage of shareholders called for a AGM then by law one had to take place
If it was less than the required percentage then you weren't forced to have one
Not sure if that's still the case these days
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Re: AGM for 2017

Post by Lofthouse Tiger » 06 Nov 2018, 14:21

When one person has cornered the market he can effectively run the club however he wants as is now the case at Cas. Any shares other people hold are virtually worth nothing.

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Re: AGM for 2017

Post by tigerfeat » 06 Nov 2018, 14:26

Yes that's correct if someone as over 90 per cent of the shares I'm not sure what the actual figure is they wouldn't need to call a AGM if they didn't want to
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Re: AGM for 2017

Post by Lofthouse Tiger » 06 Nov 2018, 14:44

If that’s the case then the question is why wouldn’t you want to?

What about the other shareholders that are entitled to know what the club is doing?

It appears the club is being run well, no debts, 2 very good seasons behind us, future looks good. Would seem to be a good time to tell everyone that is a shareholder especially when it was promised.

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Re: AGM for 2017

Post by cogito ergo sum » 06 Nov 2018, 23:38

A reluctance to call an AGM may be construed as the directors/Ian Fulton trying to hide something. If all is well, why avoid one?
Could this be why Robbo is so persistent?

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Re: AGM for 2017

Post by HuddsTigers » 06 Nov 2018, 23:51

When was the last one?
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Re: AGM for 2017

Post by tigerfeat » 07 Nov 2018, 08:59

I presume we've missed a couple of years with robbo asking when the next one is going to be
I'm sure there's a valid reason why one was missed the idea you would stop having AGMs because one person now as over 90 % control and dosnt have to have one or to try and hide things is just too daft to contemplate
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Re: AGM for 2017

Post by HuddsTigers » 07 Nov 2018, 09:47

The only reason I ask is that in the Articles of Association it states that an AGM must be held at least every 15 months in line with the Companies Act(?) when it was incorporated in 1926.
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Re: AGM for 2017

Post by Lofthouse Tiger » 07 Nov 2018, 10:07

tigerfeat wrote:I presume we've missed a couple of years with robbo asking when the next one is going to be
I'm sure there's a valid reason why one was missed the idea you would stop having AGMs because one person now as over 90 % control and dosnt have to have one or to try and hide things is just too daft to contemplate

Really? The club have always been one that hides things. Unfortunately for them things always get out and makes them look poor and unprofessional. We have seen all kinds of things, some in the open and some not, and this is why AGMs are delayed, not done or even worse people not allowed to voice their concerns.

Not how you treat the shareholders of any business.

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Re: AGM for 2017

Post by Robbo » 08 Nov 2018, 20:57

A few corrections
The articles say every year and it’s been over a year.
The BOd had previously agreed to try and hold it early in the year. February March to share the plans for the coming season with the owners.
The Fulton’s have a controlling stake and all the other shares added up cannot out vote them.
The Fulton’s still are owed a large amount of money circa 2 million
They are paid interest on that as previously they had not been
The accounts have been ready months

I am afraid it’s an inconvenience having you which shows how they regard minority shareholders.
Let me guess that one is called maybe two weeks before Xmas when people are busy with other things.
Maybe they should buy the other shares as they carry no voting rights now.
Why not share the great season we had 2 seasons ago?
More questions than answers but see if I am right.
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Re: AGM for 2017

Post by Robbo » 08 Nov 2018, 20:59

tigerfeat wrote:It used to be that even if it was only a small percentage of shareholders called for a AGM then by law one had to take place
If it was less than the required percentage then you weren't forced to have one
Not sure if that's still the case these days
That’s an EGM I called the last one
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Re: AGM for 2017

Post by Spanishtiger » 09 Nov 2018, 00:45

Give me a price for your miniscule shareholding Robbo, I'll gladly buy them to shut you up.
Whilst you're at it please explain to all the people on here what your shareholding is worth, both in percentage and cash terms.
If you can't, please stop moaning on a fan's forum and direct your niggles to the boardroom. Please.

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Re: AGM for 2017

Post by nottinghamtiger » 09 Nov 2018, 01:14

Spanishtiger wrote:Give me a price for your miniscule shareholding Robbo, I'll gladly buy them to shut you up.
Whilst you're at it please explain to all the people on here what your shareholding is worth, both in percentage and cash terms.
If you can't, please stop moaning on a fan's forum and direct your niggles to the boardroom. Please.
Didn’t Robbo do exactly this a few years ago?

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Re: AGM for 2017

Post by mart0042 » 09 Nov 2018, 12:37

Spanishtiger wrote:Give me a price for your miniscule shareholding Robbo, I'll gladly buy them to shut you up.
Whilst you're at it please explain to all the people on here what your shareholding is worth, both in percentage and cash terms.
If you can't, please stop moaning on a fan's forum and direct your niggles to the boardroom. Please.
:clap:

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Re: AGM for 2017

Post by Lofthouse Tiger » 09 Nov 2018, 12:55

Not sure how these things work but a few question to see if I can find out.

If the club owe the Fulton’s 2 million pounds then this is something that will be and should be repaid as and when is realistically possible. No problem, seems only right.

If the club are now paying interest on this loan then when was this done, why was it done, who proposed it and who agreed it? We’re ALL the shareholders involved in this process?

If this is the case then why were additional shares given to the Fulton’s in lieu of the outstanding loans? If additional shares were given were these to replace any outstanding debt/loans? If not why were they given? If they were then how is that debt still in place with interest being paid? Cake and eat it scenario.

Is this 2 million loan still going to be repaid as and when possible? If so then what will happen to the additional shares once paid? Will these be kept and possibly sold on? If the shares are cancelled, then what is/was the point of the whole process to begin with?

Seems to me only one person or group is at an advantage whichever way you look at it.

As I said I am not fully au fair with this kind of thing but to the man I the street this is an odd way to run a club and not a good way to treat ALL the shareholders.

The answers must be out there.

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Re: AGM for 2017

Post by Lofthouse Tiger » 09 Nov 2018, 12:56

Spanishtiger wrote:Give me a price for your miniscule shareholding Robbo, I'll gladly buy them to shut you up.
Whilst you're at it please explain to all the people on here what your shareholding is worth, both in percentage and cash terms.
If you can't, please stop moaning on a fan's forum and direct your niggles to the boardroom. Please.

Offering to buy silence from people Spanish? Are you a Tory MP by any chance? :dance: :dance: :dance:

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Re: AGM for 2017

Post by HuddsTigers » 09 Nov 2018, 13:44

Robbo wrote:A few corrections
The articles say every year and it’s been over a year.
Robbo - you're both correct and incorrect. The articles are publicly available on Companies House but they clearly state 15 months as a gap.

It states 'one general meeting of the company at the least shall be held in each calendar year at such time and place as the Directors may determine'

However, it then goes on to state "provided, however, that no greater interval than fifteen months shall be allowed to elapse between two Ordinary General Meetings'.

In this case, the club could have one in January but it means they could realistically wait until April the next year to hold the next one. One each calendar year, 15 months apart.

So if the last one was in November last year, then to fall into line with the Articles they can hold it any point before the end of the year. Doesn't have to be November-November.
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Re: AGM for 2017

Post by Robbo » 09 Nov 2018, 20:24

Spanishtiger wrote:Give me a price for your miniscule shareholding Robbo, I'll gladly buy them to shut you up.
Whilst you're at it please explain to all the people on here what your shareholding is worth, both in percentage and cash terms.
If you can't, please stop moaning on a fan's forum and direct your niggles to the boardroom. Please.
1000 shares so make me an offer.
Cost 20 k you give me that you can have them
There are 40 k issued and paid so 2.5%
However another 40 k on loan to Fulton’s
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Re: AGM for 2017

Post by Robbo » 09 Nov 2018, 20:35

HuddsTigers wrote:
Robbo wrote:A few corrections
The articles say every year and it’s been over a year.
Robbo - you're both correct and incorrect. The articles are publicly available on Companies House but they clearly state 15 months as a gap.

It states 'one general meeting of the company at the least shall be held in each calendar year at such time and place as the Directors may determine'

However, it then goes on to state "provided, however, that no greater interval than fifteen months shall be allowed to elapse between two Ordinary General Meetings'.

In this case, the club could have one in January but it means they could realistically wait until April the next year to hold the next one. One each calendar year, 15 months apart.

So if the last one was in November last year, then to fall into line with the Articles they can hold it any point before the end of the year. Doesn't have to be November-November.
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