AGM

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mart0042
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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.
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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
The measure of who we are is what we do with what we have
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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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Re: AGM

Post by woofie » 13 Dec 2019, 12:20

One thing I’m sure of is that Jack Fulton will be turning in his grave he loaned the club lots of money, partly because of his poor over seeing of the club whilst he was at the helm and partly because His Wife and himself loved being part of the club. He was always clear that the money he gave to the club was a loan, but was also very clear that he would take no interest on the loan.
Since Ian as taken over he bent the shareholders over a barrel and they had little choice in handing over all outstanding shares to Ian for a minimal sum. He is now taking interest on the loan around £160000 per year that at the end of the day is father was partly at fault for racking up.
For one I will always be great full to Jack and Bradie for the money they loaned to the club and I am convinced both will be looking down disappointed that Ian is now taking interest on this.
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Re: AGM

Post by tigerfeat » 13 Dec 2019, 12:35

When IF took over from his dad he made a point of saying anyone who thinks i would do anything to the detriment of CTRLFC knowing how much the club meant to my mam and dad are very much mistaken
Maybe if there is a AGM or at the next QandA someone will push him on this
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Re: AGM

Post by Robbo » 13 Dec 2019, 20:55

Some good posts there.
I am not sure the interest is 160 k a year and again without an AGM we cannot ask the question.
The accounts shared ( not been sent them yet ) are the filed copy with little detail.
Offence has been taken to me calling an EGM and that’s why he issued a controlling stake.
At the very least buy out the holders so we can move on.

I think it’s very sad.
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Re: AGM

Post by Robbo » 14 Dec 2019, 08:52

I understand there is a valid reason why the AGM has not been called.
Under the circumstances I am happy that it’s delayed further.
However there should be one at some point in the future.
Robbo
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Re: AGM

Post by casjunction » 14 Dec 2019, 10:07

Out of curiosity.
How did you find out about the valid reason.
I presume it must be some form of official channel or private email.
Does the author or originator of the message have some senior official capacity.
If this is the case should future questions on aricles, practice and proceedures be addressed to them.
Not being from or ever having lived in Cas l am not aware of the politics of the club.
I can understand your frustration but it does in my opinion harm rather than help your cause using the forum in this way.
So Seasons Greetings.
Not a great deal to be merry about after yesterday's outcome.
Bah Humbug

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