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Post by Noboddy aka Lord Ealing on Sept 19, 2018 9:41:53 GMT
It’s good to see that there’s a forum this weekend. At last! Sadly I can’t make it. Hopefully some obvious questions will be asked like:
Do the board now have access to the accounts? If so is anything left? As a result of seeing the true financial situation are the board more, or less, optimistic about the club returning to Worcester?
Have you uncovered any evidence of malpractice that could send Hampson and co to jail? (Sadly I suspect not.)
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Post by The sound and the fury on Sept 22, 2018 18:48:59 GMT
Thought the forum was good, so refreshing to everyone pulling in the same direction. Could probably have done with a microphone, I'll sort one for the next event.
As Goodey said, we'll be starting a podcast shortly, which will be Jack and me down the Plough with special guests talking all things WCFC, we've already got the Board and captain signed up to take part. Anything that can be put in place to raise awareness and spread the word has to be worth a try.
And, as was said at the end...bring a mate and double the gate!
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Post by Brooksiders Return!! on Sept 23, 2018 11:17:14 GMT
Yes, good turn out, good positivity. This is where we should have been 5 years ago, and I had a very interesting discussion with Andy Jones. Unfortunately, WCFC Ltd. is a business, and the Board needed to make pragmatic and difficult decisions, but never made them. One of the reason was the fact that the Chairman refused to front up to the very people that he needed on his side - the fans. Those days are gone now. Its not going to be easy, but its made easier if everyone is seen to be accountable, right the way from the top (the fans) to the bottom (the Boardroom) and including stakeholders, players and management teams. Snapper was also pragmatic yesterday, the budget set now is set as a real budget , that is, based on available income, and not a budget based on expectation, and if we don't win the league, then at least we'll still be around next season, and the season after.
Things won't change overnight, and no one person can "save the club" but for the first time in a very very long time, there is a realistic plan being set in place to maintain a Worcester City Football Club, and bring it back to Worcester.
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Post by Brooksiders Return!! on Sept 23, 2018 12:58:49 GMT
I just want to clarify a point made during the forum, regarding selling shares for less than a pound. Could the club sell shares at a penny? then more fans would buy large volumes of shares?
Well, yes they can, but the shares would be a different class of share, so the £1 shares are Class A shares, and the 1p shares would be Class B shares. However, the Class B shares would carry 1/100 of the share value as a Class A share, so you'd have to buy 100 Class B shares for your shareholding to be on a parity with a £1 Class A share, and 100 Class B shares would cost.....£1 !
You can't legally sell the same class of share at different par values, which is why the shares have been valued at £1 for the last 100 years. If inflation is taken into account, those 1908 £1 shares would now be valued at £100+ so at £1 a pop, or minimum of £50 , its actually a very cheap way to get ownership of a small percentage of the business. And for only £3000 you can own 1% of the whole business. And thats why it's so important for a proper valuation, and financial report to be commissioned, because actually, even with the constitution as it is now, there may be people, or companies, willing to invest £3000 each, and there are approximately 140,000 of unallocated shares available. Imagine what a difference £140,000 would make to the football club? However, who is going to gamble £3000 without proper due diligence? And that is why there has always been a need for transparency in a company with a constitution structure like WCFC Ltd. It will happen now I'm sure.
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Post by Noboddy aka Lord Ealing on Sept 23, 2018 14:41:33 GMT
I have a small number of shares - can’t even remember how many - but I didn’t buy them. I don’t recall exactly what happened but I was given them “in lieu” for doing something for the club (maybe some graphics?). I’m not sure this was even legal (it was in Boddy’s time!), but my point is that would it be possible to allocate shares to others for services rendered?
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Post by Brooksiders Return!! on Sept 23, 2018 15:14:23 GMT
Yes, shares can be given out by the club in lieu of services, I got 50 shares gifted to me for winning Teambuilder or something.
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Post by Noboddy aka Lord Ealing on Sept 23, 2018 19:46:14 GMT
In that case a fair few could be handed out to “deserving contributors” which could shift the balance of power if not raise funds.
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