The Vote ?

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The Vote ?

Postby Mickeygee » Wed May 23, 2012 7:59 am

At the last Supporters Trust Extraordinary Meeting, it was agreed all members of the Trust would be asked to vote on the various options to allow Roger Payne to own 51% of the shares. (I believe Roger was also to be asked to come and explain his thoughts to the Trust). It was said 95% of Trust membership would be needed for approval.
Since then, apart from a straw poll at a game, I don't think anything further has happened, apart from a disappointing spat over management of the bar.

Does anyone know when the vote is going to be held to determine how Roger will be allotted the 50% he requires ?
eg.options such as :
1. Trust alone relinquishes it's shareholding for Roger to gain the 51%,
2. New Shares be issued to Roger to give him 51%,
3. All shareholders give up a proportion of their shares to give Roger 51%
4, Other buyers be sought (I can think of one or two very rich local football lovers who may fancy the idea of owning a Club)
5, Whole idea is voted down.

Don't misunderstand me, I am strongly in favour of Roger or any other person who is generous enough to fund the Club,
holding 51%, but I had hoped the Supporters Trust could still keep a significant shareholding in the Club.

Is anyone else interested in this subject ?
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Re: The Vote ?

Postby MartinW » Wed May 23, 2012 12:09 pm

there is a Trust Committee Meeting this evening, after which I am sure Steve will issue an update
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Re: The Vote ?

Postby Mickeygee » Wed May 23, 2012 1:28 pm

I'm sure Trust members will look forward to reading it.
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Re: The Vote ?

Postby red-five2000 » Fri May 25, 2012 3:09 pm

Following votes that have been cast either on a form myself and Alan went around with at games, postal form or via email, I can confirm that 96.2% of members agreed with The Trust Committees recommendation, with 3.8% either disagreeing or abstaining.

At the moment a draft proposal has been drawn up, although nothing has been officially agreed or signed.

Once a formal agreement has been put in place, I will be able to give a better update with more information.
Regards
Steve

All views are personal, and not to be taken as official statements of Chesham United FC or Chesham United Supporters Trust.
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Re: The Vote ?

Postby Mickeygee » Wed May 30, 2012 8:32 am

I'm pleased Roger has completed the purchase of a 51% shareholding - but astonished at the way 'The Vote' was conducted.

Does Alan or A.N.Other walking around asking how we intended to vote actually constitute anything other than a straw poll ? What happened to secret ballot ? This was like a 1970's Union Vote !!

I thought all members would be invited to vote by mail - I understand there are only 75 members so no great cost or effort would have been involved to do the thing properly.

It is also a little surprising to me that several people who have worked so hard for the Club to raise funds have so casually given up the Supporters Trust's significant shareholding, without any other shareholder being required to yield some of their holding or any other options being considered.
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Re: The Vote ?

Postby red-five2000 » Wed May 30, 2012 3:39 pm

The reason the vote was cast as a 'straw poll' as opposed to a postal ballot was mainly down to time constraints, as well as insuring the largest amount of members voted. By going down a fully postal vote, there was a very realistic chance that a lot of people would not have voted at all. Everybody that voted via the 'straw poll' signed their vote, to prove that it was their wish to vote that way. The people that were not spoken to at that point, were then contacted via email, or post.

With the shareholding situation, by going down the route of The Trust gifting shares rather then other shares being issued or shares being purchased from other shareholders, it means that The Trust is actually in a lot stronger position. Although the shares held by the club have gone down dramatically, there will be an official, legal agreement that means that there will be a supporters liaison at board level, as well as safeguarding against sale of the shares.
Regards
Steve

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Re: The Vote ?

Postby Mickeygee » Thu May 31, 2012 7:50 am

At the EGM of the Trust it was suggested Roger Payne, perhaps with Brian McC, might meet the Trust members and outline his vision and plans for the Club under his ownership.

The original idea was that such a presentation should take place before a vote on disposal/restructuring of the shareholding, so members could feel fully informed, particularly as many had never met Roger.

Do we know if that meeting will now take place please - or is it now superfluous ??
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