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Any reason why only trust member shareholders ask to be part of this, as opposed to any shareholders?
Any shareholder can ask for an EGM, and provided they have enough support (usually 10% of shareholders) one must then be held within 14 days (I think).
Only specific items can be dealt with at an EGM, so those calling one must make sure that they word things very very carefully.
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Trust calls for EGM on 09:52 - Apr 14 with 8045 views
As an ignoramus, could somebody explain to me exactly what an EGM is? The ‘extraordinary’ aspect presumably means this is quite a drastic act?
The AGM is where a shareholder normally approves the accounts, appoints auditors, challenges the Board and elects directors etc
An EGM is called for matters that need shareholder approval/consideration that can't wait for the AGM. An EGM isn't granted unless there is a motion to consider and that is supported by a sizeable proportion of shareholders. You can't just call for an EGM because you are unhappy for example. Will be interesting to see how the agenda for the EGM (if agreed) pans out. The Trust want the agenda to be focussed on the election/re-election of the Board. There clearly needs to be people available to stand for Board roles if the current Board either resign or don't get elected
I suspect the Board meeting on the 19th will determine whether an EGM is approved and will force the existing Board to share their plans for the future. Will it be a power struggle or will they be relieved to handover? Time will tell
[Post edited 14 Apr 2021 9:54]
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Trust calls for EGM on 09:56 - Apr 14 with 8021 views
Any reason why only trust member shareholders ask to be part of this, as opposed to any shareholders?
Presumably (and it's a guess) the Trust can only represent it's members, as things stand currently, by amalgamating their shares into a block. If that's the case, it would seem there is also a need to add non-members if they are in support of the Trust but not a member.
The AGM is where a shareholder normally approves the accounts, appoints auditors, challenges the Board and elects directors etc
An EGM is called for matters that need shareholder approval/consideration that can't wait for the AGM. An EGM isn't granted unless there is a motion to consider and that is supported by a sizeable proportion of shareholders. You can't just call for an EGM because you are unhappy for example. Will be interesting to see how the agenda for the EGM (if agreed) pans out. The Trust want the agenda to be focussed on the election/re-election of the Board. There clearly needs to be people available to stand for Board roles if the current Board either resign or don't get elected
I suspect the Board meeting on the 19th will determine whether an EGM is approved and will force the existing Board to share their plans for the future. Will it be a power struggle or will they be relieved to handover? Time will tell
[Post edited 14 Apr 2021 9:54]
Thanks!
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Trust calls for EGM on 10:42 - Apr 14 with 7845 views
The AGM is where a shareholder normally approves the accounts, appoints auditors, challenges the Board and elects directors etc
An EGM is called for matters that need shareholder approval/consideration that can't wait for the AGM. An EGM isn't granted unless there is a motion to consider and that is supported by a sizeable proportion of shareholders. You can't just call for an EGM because you are unhappy for example. Will be interesting to see how the agenda for the EGM (if agreed) pans out. The Trust want the agenda to be focussed on the election/re-election of the Board. There clearly needs to be people available to stand for Board roles if the current Board either resign or don't get elected
I suspect the Board meeting on the 19th will determine whether an EGM is approved and will force the existing Board to share their plans for the future. Will it be a power struggle or will they be relieved to handover? Time will tell
[Post edited 14 Apr 2021 9:54]
Even if the board (one member in particular!) doesn't agree to a request for an EGM, the Companies Act 2013 allows those requesting the EGM to go ahead and initiate one.
"If the Board does not, within twenty-one days from the date of receipt of a valid requisition in regard to any matter, proceed to call a meeting for the consideration of that matter on a day not later than forty-five days from the date of receipt of such requisition, the meeting may be called and held by the requisitionists themselves within a period of three months from the date of the requisition."
As a shareholder I've written to the trust and pledged my shareholding in support of their actions. Please ask any other shareholders you know to do the same. The future of RAFC is at stake.
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Trust calls for EGM on 11:17 - Apr 14 with 7708 views
Fair play to the Trust for initiating the EGM process.
As Judd has pointed out, agenda items for discussion at an EGM have to be specific. I wonder if the concerns raised will be enough to discuss a takeover and refresh of the boardroom?
"The future of the Football Club following Interim Chairman Andrew Kelly’s expected departure from the Club"
I suspect the Trust did their homework with the wording of their concerns.
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Trust calls for EGM on 11:58 - Apr 14 with 7567 views
As a body (the Trust) rather than an individual shareholder, how would such a body normally be represented at an EGM? Does a nominee make themselves available to put forward specific points on behalf of said body? And would that normally be the chair?
Trust calls for EGM on 09:14 - Apr 14 by bazingadale
Why have an EGM when we can send "the chosen few" up to the stadium again?
Surely those "proper lads" can sort it out.
Unfortunately the so called "Chosen Few" realised the trust is full of DB sidekicks getting privileges that others do not get. Sad state of affairs when other fans have to take matters into their own hands because the Trust have been caught with their pants down, whilst sleeping at the wheel.
This should have happened over a year ago, so i suggest if you want to start making smart replies, look no further than the trust, for the butt of your jokes.
There will be more to come, in the coming weeks, make no mistake about that.
Backs Against The Wall Since 1907
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Trust calls for EGM on 18:00 - Apr 14 with 7105 views
Unfortunately the so called "Chosen Few" realised the trust is full of DB sidekicks getting privileges that others do not get. Sad state of affairs when other fans have to take matters into their own hands because the Trust have been caught with their pants down, whilst sleeping at the wheel.
This should have happened over a year ago, so i suggest if you want to start making smart replies, look no further than the trust, for the butt of your jokes.
There will be more to come, in the coming weeks, make no mistake about that.
I’m intrigued, what privileges are them then
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Trust calls for EGM on 19:55 - Apr 14 with 6926 views
For my thoughts & I fully support the Trust in the motion:
Forget trying to get answers to most of the first reasons, they can be waffled away like the supporters forum (shame it’s not on you tube with Sweetmore hosting, could do with a laugh until the pubs open proper 😀)
What I am more interested is the last paragraph which from what I have seen (unless on other threads as a lot being posted as we all know)
Following the discussions on the above matters, we are calling for a motion whereby all four of the full Directors of the Football Club are put up for immediate re-election in accordance with the rotation policy operated by the club.
For me, what is the expected outcome of this motion? This person, that person out? Surely the “four” directors are the “four”, who would they be replaced with? Are there people waiting in the wings for a chair? Do they have money to invest & lastly would any of the “four” have to sell their shares???
Apologies but as other comments above.. not sure on processes & procedures
Trust calls for EGM on 19:55 - Apr 14 by blackdogblue
For my thoughts & I fully support the Trust in the motion:
Forget trying to get answers to most of the first reasons, they can be waffled away like the supporters forum (shame it’s not on you tube with Sweetmore hosting, could do with a laugh until the pubs open proper 😀)
What I am more interested is the last paragraph which from what I have seen (unless on other threads as a lot being posted as we all know)
Following the discussions on the above matters, we are calling for a motion whereby all four of the full Directors of the Football Club are put up for immediate re-election in accordance with the rotation policy operated by the club.
For me, what is the expected outcome of this motion? This person, that person out? Surely the “four” directors are the “four”, who would they be replaced with? Are there people waiting in the wings for a chair? Do they have money to invest & lastly would any of the “four” have to sell their shares???
Apologies but as other comments above.. not sure on processes & procedures
Easy to find the Fans Forum, pal
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Trust calls for EGM on 20:27 - Apr 14 with 6822 views
Trust calls for EGM on 21:03 - Apr 14 by blackdogblue
We had a bet, for the life of me can’t remember why as you don’t gamble but accepted & I won..
There will lie an unanswered mystery, I’m getting old now mate tbh 😢..
Maybe it was who had told Chalky to fook off the most on the forum posts 😀😀
Rather than work tomorrow, will go back through all my posts & I will find it ðŸ‘ðŸ‘
You won't find anything because I don't bet, and I've found the messages that show you offered a bet on the Prediction League and I refused. Check your e mail
That Taddy's has got to your head.
You know I'll get you a pint if you want one, but not for that reason! I think you owe me a pint by way of an apology!
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Trust calls for EGM on 21:55 - Apr 14 with 6547 views
You won't find anything because I don't bet, and I've found the messages that show you offered a bet on the Prediction League and I refused. Check your e mail
That Taddy's has got to your head.
You know I'll get you a pint if you want one, but not for that reason! I think you owe me a pint by way of an apology!
I’m sure you accepted the bet in the end & I did beat you
Never mind, always happy to get a round in mate ðŸ‘ðŸ‘
Many fans seem annoyed that it has taken the Trust so long to call for an EGM. This is not something that anyone does on a whim. It has to be thought through and many shareholders have to be onside for it to be successful both in its calling and then to pass the most important motions. I suspect this has been going on for some months, at least 5 and probably longer. Evidence needs to be gathered to support it and also a look at what would happen if it is unsuccessful. Should it fail in its aims, I can see us playing alongside Bury if at all. We the fans need to be as one in this. Personal issues MUST be put to one side for the sake of our football club. It would be a shame to throw away the hard work of thousands of people over the last 114 years, the last 100 years as a member of the Football League.
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