AGM

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Tamworth Tiger
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Re: AGM

Post by Tamworth Tiger » 10 Dec 2019, 23:03

I don’t really understand the current ownership arrangements but one thing that does interest me is whether the planning agreement for the new stadium will protect it from being sold off. Basically the stadium would I assume have been part of the planning gain for the local community required to justify such a large green belt development. I would be amazed if this new stadium would effectively become a gift to the Fulton family without safeguards to keep it as a community asset.
Does anyone know?

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Re: AGM

Post by Casmania » 10 Dec 2019, 23:46

Tamworth Tiger wrote: 10 Dec 2019, 23:03 I don’t really understand the current ownership arrangements but one thing that does interest me is whether the planning agreement for the new stadium will protect it from being sold off. Basically the stadium would I assume have been part of the planning gain for the local community required to justify such a large green belt development. I would be amazed if this new stadium would effectively become a gift to the Fulton family without safeguards to keep it as a community asset.
Does anyone know?
There is no such condition safeguarding the stadium in any guise.
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Re: AGM

Post by Tamworth Tiger » 11 Dec 2019, 02:48

Thanks. Do you know if the stadium is only required by planning condition or is it covered by a requirement for a planning undertaking or agreement which often has to be signed before planning permission is issued? All very unusual if not.

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Re: AGM

Post by tigerfeat » 11 Dec 2019, 08:59

I don't get the cloak and dagger stuff have the AGM every year and let anybody that wants to say summat stand up and say it
To be honest nobody who dosnt have the best interests of the club at heart spends all the money on buying players the club as done in the last few years you could easily wait for lesser players to come off contract and sign them rarther than spending money on transfers
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Re: AGM

Post by Lofthouse Tiger » 11 Dec 2019, 10:37

Unfortunately it’s all about looking after number 1 and keeping control. Some people don’t like an AGM because they are usually the only place shareholders get to have their say and ask any questions.

We have effectively an owner in IF who doesn’t like being questioned and doesn’t want any kind of discussions in how the club is run. This was why he held a gun to the clubs head to gain the control he has now.

Sad but true. A shareholder at Cas now has almost no input and no say, just the way I F wants it. He has a free reign to do exactly as he pleases. Sorry state of affairs.

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Re: AGM

Post by mart0042 » 11 Dec 2019, 11:04

Robbo wrote: 10 Dec 2019, 20:36 Cas mania
The articles of the club say that there shall be an annual AGM
These have not been changed.
The fact that the Fulton’s voted to give them full control is morally questionable .
They have not bought these shares and I think it’s wrong they should hold voting rights.
The debt accruing interest is still there.

At the very least they should buy out other holders.
Some of us put many thousands of pounds into the club for no return.
Robbo
You arranged to sell some shares but failed to do so. You've had your chance to "get rid" but didn't. You can't have it both ways.

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Re: AGM

Post by Frankas » 11 Dec 2019, 11:43

Buy the fultons out, pay of the debt owed to him, and then you can make the rules.
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Re: AGM

Post by duke street 10 » 11 Dec 2019, 13:09

Frankas wrote: 11 Dec 2019, 11:43 Buy the fultons out, pay of the debt owed to him, and then you can make the rules.
I.F would over value the club if he ever put it up for sale. Unless there is a a cluster of very successful business people willing to group together to form a consortium and put the money down we are where we are.

May as well get those share certificates out frame them and put them on your walls....not worth much else.

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Re: AGM

Post by mart0042 » 11 Dec 2019, 13:58

duke street 10 wrote: 11 Dec 2019, 13:09
Frankas wrote: 11 Dec 2019, 11:43 Buy the fultons out, pay of the debt owed to him, and then you can make the rules.
I.F would over value the club if he ever put it up for sale. Unless there is a a cluster of very successful business people willing to group together to form a consortium and put the money down we are where we are.

May as well get those share certificates out frame them and put them on your walls....not worth much else.
Yes. That's where mine would be. Probably along with a signed shirt and stuff. Aswell my buy a brick and the one we got for the squad builder.

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Re: AGM

Post by HuddsTigers » 11 Dec 2019, 18:57

Anyone who buys shares in a rugby league club expecting a return is incredibly naive. You buy in for the love, not the money.
In the spirit of the final Blackadder episode - Goooodbyeee!

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Re: AGM

Post by Lofthouse Tiger » 11 Dec 2019, 19:22

Do you want to tell Ian Fulton that Hudds?

The debt and shares are only his due to his father. IF hasn’t invested a penny in the club yet holds it to ransom and is slowly killing it.l and taking interest on top of interest from the club. How many other sports clubs do this Hudds?

If this new stadium doesn’t happen Cas will be nothing within 10 years with him holding the cards and purse strings.

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Re: AGM

Post by Casmania » 11 Dec 2019, 19:43

HuddsTigers wrote: 11 Dec 2019, 18:57 Anyone who buys shares in a rugby league club expecting a return is incredibly naive. You buy in for the love, not the money.
I agree, and I would do so again to help the club.
However you need to be aware of the following;
I paid £40 per share for mine. IF paid 10p for his in 2017 when the shares were reallocated.
My understanding (and many others) was that my and others shares would be considerably devalued and that the Fultons would then own 75% of shares, with nobody else allowed to purchase more. I was happy with that, as I thought the debt would be wiped out. You can imagine how I and others felt when the debt remained and interest was to be charged at 2.5% above the bank base rate.
Now the Fultons own 94% of the club, the debt still remains and interest is being charged.
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Re: AGM

Post by Robbo » 11 Dec 2019, 22:35

Hudd
It’s not about a return but rather a voice.
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Re: AGM

Post by Robbo » 12 Dec 2019, 08:44

Lofthouse Tiger wrote: 11 Dec 2019, 19:22 Do you want to tell Ian Fulton that Hudds?

The debt and shares are only his due to his father. IF hasn’t invested a penny in the club yet holds it to ransom and is slowly killing it.l and taking interest on top of interest from the club. How many other sports clubs do this Hudds?

If this new stadium doesn’t happen Cas will be nothing within 10 years with him holding the cards and purse strings.
The club lost all this money during the time JF and RW were at the helm. That's a simple fact.
People left the BOD and club because they were not allowed an opinion.

Money poured into the club by JF to support Cas Tigers. Year after year.

Had there been a plan then we would not be in this mess.

Amazing that as soon as change is made we manage to balance the books again. Proving my point it could be done.
Towards the end of this period fans became disenfranchised with Cas Tigers and season ticket sales fell.
can anyone see this happening again?

This should not be BOD v Supporters but a united force.
To the poster who suggested buying Fulton out why would anyone?

They have issued shares at no cost to have control and not written the debt off. It should be one or the other.
As I warned during the RW years when nobody listened the situation is now just as bad with no controls on the management of the club.
This may not end well.
robbo
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Re: AGM

Post by tigerfeat » 12 Dec 2019, 09:01

I know what your saying but lots of sports clubs have one person in control they do what they want and the fans hope it's the best for the club
If the new ground dosnt get built It will end badly no matter what
And like I said yesterday nobody who ran a rugby league club would be spending 100grand and 150grand and the rest buying players if they didn't won't it to do well
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Re: AGM

Post by casjunction » 12 Dec 2019, 18:50

From what is being said.
If l were a share holder, l would be quite annoyed if my shares became devalued to profit someone else via a reallocation effectively taking control without consultation.
The answer does not lie on these pages.
Perhaps it could be raised at the next Q&A if there is no other avenue.
As a mere fan what concerned me was what was alluded to about the new stadium having no safeguards for its future use.
Suggesting it seemed not Cas RFL the stadium becomes owned by the Fultons what a great incentive!!!!
Have l misinterpreted earlier posts.

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Re: AGM

Post by mart0042 » 13 Dec 2019, 11:00

casjunction wrote: 12 Dec 2019, 18:50 From what is being said.
If l were a share holder, l would be quite annoyed if my shares became devalued to profit someone else via a reallocation effectively taking control without consultation.
The answer does not lie on these pages.
Perhaps it could be raised at the next Q&A if there is no other avenue.
As a mere fan what concerned me was what was alluded to about the new stadium having no safeguards for its future use.
Suggesting it seemed not Cas RFL the stadium becomes owned by the Fultons what a great incentive!!!!
Have l misinterpreted earlier posts.
In the other project at glasshoughton, the trust got the ground but the club. Tbh, I thought this was the same.

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Re: AGM

Post by casjunction » 13 Dec 2019, 11:37

I sincerely hope that is the case.

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Re: AGM

Post by mart0042 » 13 Dec 2019, 12:13

Just asking the question, if the fultons did want to sell, do we have a local millionaire to buy us or even a consortium ready to move in?

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Re: AGM

Post by mart0042 » 13 Dec 2019, 12:14

casjunction wrote: 13 Dec 2019, 11:37 I sincerely hope that is the case.
Hudds will know more definitely.

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