Club & Trust - Joint Statement

[Brooksiders Return!!]

Still waiting for downthelanes opinion on the intentions of the Supporters Trust.

[Croc]

Jul 4, 2017 13:06:00 GMT Brooksiders Return!! said:

Still waiting for downthelanes opinion on the intentions of the Supporters Trust.

Probably too busy scrubbing up in the massive bathtub of ignorance they possess...

[jimbo]

Just a thought regarding the estimated losses......
Dread the thought but:
Is it possible that some shares have been bought back by the club from some of the cronies at face value or even more ?
There must be 50, possibly even a 100 plus stakeholders with the maximum £3,000 worth, & some would have also bought shares for family members.
That would leave a gaping hole in the bank balance & a good reason NOT to be transparent with the books !!

[dragon]

I suspect that in order to `pay out` the Hallmark crew, the Board would have to make a general offer to do the same for ALL shareholders. Even THEY wouldn`t dare do otherwise - WOULD THEY ?

[alwaysnextyear]

Jimbo - very bad speculation as you can't add up ! To correct you,

The latest shares register lodged at Companies House was as at 31.05.15. It showed 1,064 individual shareholders holding a value of £ 159,713 in shares. Unfortunately this is not in line with the annual accounts amount of £ 155,005, but hey, never mind !

The breakdown is shown as

Deceased 5,426
Gone Away 18,196
Live shares 136,081


beta.companieshouse.gov.uk/company/00232010/filing-history

There are only NINE individual shareholders with the maximum shareholding of £ 3,000 ( D Boddy, L Brown, P Curtis, L Draper, S Gregory, A Hampson, K Peake, K Stokes Smith, and A Wills ), although there are other individuals who have less than 3,000 shares themselves, but other family members also own shares, so the total family shareholding may be over 3,000.

I've no doubt that the losses of 155 k for 2016, and my estimated loss of £ 250 k for 2017 relate solely to the Board's day to day running and management of the club, and are nothing to do with paying back certain shareholders, which as "dragon " suggests would have to be an offer made to all. When the Chairman speedily re-arranges the AGM, we'll all be in a position to know !

[Noboddy aka Lord Ealing]

Well at least that shows us who has been responsible for blocking any reform at the club.

Several people have mentioned that there is withheld information that if released would prove "damaging" to the board. If this does indeed exist I would think now is the time to disclose it.

[dragon]

I`ve always suspected Hampson will delay `pulling the plug`until little more than £150K remains in the kitty- just sufficient to cover current liabilities and pay out the shareholders in full. It seems likely that the voluntary drop into `minor` football was taken because a further season at National League level would have badly eaten into `shareholders` funds` and we wouldn`t want that to happen would we ? All will be revealed at the AGM, I`m sure !

[B*ue dragonstander]

The determination of the planning application is the key to unlocking this.

Let's not forget how much support City as a team can muster. There is plenty of enthusiasm out there but there has been nothing to enthuse over since the 2008 EGM other than the ST and their sterling efforts.

I am pretty confident that one way or another there will be Worcester City owned by the supporters for the supporters before too long. The company board have no money and no ground and no prospect of raising one or owning or paying for the latter. They are becoming utterly irrelevant.

[dragon]

They are still the decision makers in all things WCFC, B* ! They will not become irrelevant until they either step down or are removed by the shareholders which just ain`t gonna happen !