Extraordinary General Meeting

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Re: Extraordinary General Meeting

Postby 61663 » Thu Aug 13, 2020 4:55 pm

BKK wrote:Zoom a step too far presumably.....


Perhaps the Board could explain why they have not availed themselves of such readily available programs.


And they are legal.



https://www.blakemorgan.co.uk/covid-19-holding-general-meetings-including-agms-under-current-emergency-measures/
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Re: Extraordinary General Meeting

Postby Royal Blue » Mon Aug 17, 2020 6:38 am

So what happened?
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Re: Extraordinary General Meeting

Postby BornundertheElmslie » Mon Aug 17, 2020 8:05 am

Wasn't there (voted by proxy) but have heard that the motions were passed. Some unfortunate stuff seems to have been said too which if true doesn't really paint anyone in a good light IMHO but at least this is done and dusted now and the club moves forward.
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Re: Extraordinary General Meeting

Postby attic » Mon Aug 17, 2020 8:18 am

This was always going to expose any personal grudges that existed. I think the vast, vast majority would have liked to have seen an amicable ending to all parties concerned. Was not there but certainly was a lively evening by all accounts.

Now that the share threshold has been raised. It may well mean supporters digging deep once again to ensure the balance of power remains with them.
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Re: Extraordinary General Meeting

Postby Lanarkian » Mon Aug 17, 2020 8:26 am

While it is true that the three motions were passed (by a majority of 66.71 percent to 33.29 percent), this was not enough to pass the Special Resolution which needed 75 percent to amend the Memorandum and Articles of Association (Mems and Arts). I am not sure where we go from here and would expect a Board statement about this in the near future. I suspect the Chairman may not like it but I would think that some dialogue is needed between the Board and Peter Marsden (who walked out of the meeting after a comment by the Chairman following the vote) otherwise Wealdstone will not progress (in my opinion).
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Re: Extraordinary General Meeting

Postby BornundertheElmslie » Mon Aug 17, 2020 8:28 am

attic wrote:This was always going to expose any personal grudges that existed. I think the vast, vast majority would have liked to have seen an amicable ending to all parties concerned. Was not there but certainly was a lively evening by all accounts.

Now that the share threshold has been raised. It may well mean supporters digging deep once again to ensure the balance of power remains with them.


Funding the club to be competitive in what is essentially a professional league means a) supporters dig deeper, b) reliance on a benefactor/benefactors or c) growing revenue streams way beyond anything we've ever done before. Probably a combination of those options actually. But all require significant change.
Last edited by BornundertheElmslie on Mon Aug 17, 2020 8:55 am, edited 1 time in total.
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Re: Extraordinary General Meeting

Postby attic » Mon Aug 17, 2020 8:44 am

Lanarkian wrote:While it is true that the three motions were passed (by a majority of 66.71 percent to 33.29 percent), this was not enough to pass the Special Resolution which needed 75 percent to amend the Memorandum and Articles of Association (Mems and Arts). I am not sure where we go from here and would expect a Board statement about this in the near future. I suspect the Chairman may not like it but I would think that some dialogue is needed between the Board and Peter Marsden (who walked out of the meeting after a comment by the Chairman following the vote) otherwise Wealdstone will not progress (in my opinion).


Given that demanding another vote is all the rage these days, one would presume this is the likely outcome? However it would surely have to be after further investment is made into shares? Thus being able to reach the 75% required.
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Re: Extraordinary General Meeting

Postby Lanarkian » Mon Aug 17, 2020 8:59 am

Do bear in mind that there is nothing stopping Peter Marsden and his proxies also buying shares.
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Re: Extraordinary General Meeting

Postby charlie » Mon Aug 17, 2020 9:11 am

Good point Lanarkian. PM spent a decade as chairman of Accrington Stanley.. no problems...So

The peps who canvassed for him to be involved in the first place ultimately turned against him for fear of the future of the club.... but his track record suggested otherwise.

You reap what you sow.
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Re: Extraordinary General Meeting

Postby BornundertheElmslie » Mon Aug 17, 2020 9:37 am

charlie wrote:Good point Lanarkian. PM spent a decade as chairman of Accrington Stanley.. no problems...So

The peps who canvassed for him to be involved in the first place ultimately turned against him for fear of the future of the club.... but his track record suggested otherwise.

You reap what you sow.


You can't run a business as an autocracy in this day and age, but equally you can't get to a situation where your main shareholder goes rogue. Both appear to have happened. Diplomacy is needed right now; it's in everyone's interest for Wealdstone FC to be a success. Success increases the value and attractiveness of the club which is good news for anyone wanting to dispose of large amounts of shares.
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