[Post edited 5 Dec 2021 11:38]

Non shareholder tries to cancel EGM by ColDale 3 Oct 2021 11:53
Matt Southall has written to the club to ask them to cancel Wednesday's EGM:

Dear Sirs

We are happy to enter positive discussions with the Board. We suggest a meeting next week.

Unfortunately, the Board has initiated an EGM with the sole intention of seeking to dilute our shareholding. We have taken legal advice upon that process and the Board will receive correspondence from our Solicitors within the next 24 hours.

The correspondence will insist that the Board sends notice to all shareholders of the cancellation of the EGM on Monday 4 October.

If the Board try to proceed with the EGM, we are advised by the lawyers to start legal proceedings in The High Court to obtain an Injunction on Tuesday to ensure that the meeting does not proceed. We do not want to do that, but if the Board do not cancel the meeting, we will, and will also seek an order that the Directors who initiated the EGM pay the costs.

I stress that this is not a route that we want to take, but if the Board refuse to act in a co-operative manner, we will be left with no choice. The decision to call an EGM was a poorly conceived and unhelpful tactic which individual Directors will be held to account for, if they chose to proceed.

The best starting point for a constructive discussion is for the Board to immediately — this weekend — cancel the EGM. We will see this as a very positive and sensible move; and we can sit down and talk next week to explore all options with the Board. A pre-condition of commercial discussions with the Board, is confidentiality. You will understand that placing commercial discussions into the public domain is very unhelpful.

We are keen to reach a solution as soon as possible. We are sure that positive discussions can take place in the next week or shortly thereafter, so long as we can undertake the discussions without the need to tell the lawyers to commence action on Tuesday and on the basis that we are not going to read what we have discussed in confidence with the Board, half an hour later on the internet.

We look forward to your urgent response.

Regards

Matt Southall