cogg
Squad Member
Posts: 208
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Post by cogg on May 5, 2023 12:07:12 GMT
And what sort of investor ( unknown name at present) gives a club 10 days to vote yes/no ? ALARM BELLS ......
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Post by Woodenose on May 5, 2023 13:49:57 GMT
And what sort of investor ( unknown name at present) gives a club 10 days to vote yes/no ? ALARM BELLS ...... I would hope that the trust/board have done the homework for us, they new weeks ago what is about to happen, it could be good news? Let's hope it is. Keep the faith
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cogg
Squad Member
Posts: 208
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Post by cogg on May 5, 2023 14:46:09 GMT
The WHOLE POINT of a Trust owned club is that a group 'in the know' don't make the decisions for us !!!
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Post by Woodenose on May 5, 2023 16:55:45 GMT
The WHOLE POINT of a Trust owned club is that a group 'in the know' don't make the decisions for us !!! No one has made any decisions yet, these will be made at the meeting. The board have only advised,when we have listened to what is said then a vote will take place
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Post by Dodger on May 5, 2023 17:47:42 GMT
I, like WCFCWarwick, cannot attend and have a proxy vote option so am being asked to cast a vote (in favour) without knowing any detail.
It's not just who the investor is but what the plan is going forward? Staying at Claines Lane under existing arrangements would only mean the investor bankrolling the day to day finances.....and for what?
There is no likelihood of ongoing promotions there because of ground gradings and it would seem there are no other grounds available that wouldn't require massive building investment, as determined by the hunt for a home post Bromsgrove.
Also, what guarantees and protections are on the table to be agreed prior to the 51% transfer?
Dodger.
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cogg
Squad Member
Posts: 208
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Post by cogg on May 5, 2023 17:56:27 GMT
The WHOLE POINT of a Trust owned club is that a group 'in the know' don't make the decisions for us !!! No one has made any decisions yet, these will be made at the meeting. The board have only advised,when we have listened to what is said then a vote will take place A decision has been made, the Trust board have decided to accept the offer and recommend the selling of, presumably, 51% of the shares. Thus all future decisions concerning the club will be made by this 'investor'... Having gone through the 'Boddy' years, and with a young son playing for one of the youth teams, I'm suspicious....
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Post by b7uemoon on May 5, 2023 18:52:50 GMT
So with no ground or money, what is the worst that can happen with a potential takeover?
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Post by Noboddy aka Lord Ealing on May 5, 2023 19:32:35 GMT
Cogg has every right to question this. The club was sunk by Boddy and Co’s secret, shoddy deals. This new development may be beneficial, if it is then there’s no need for secrecy and all the information should be disclosed and discussed BEFORE any vote is taken. After all we have suffered over the years this is the least the Trust should guarantee.
Never trust a salesman who pressures you for a decision.
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Post by wcfcwarwick on May 5, 2023 19:43:03 GMT
Can anyone from the Trust tell us if the investor is Atlas, the group which has bought the remanants of Worcester Warriors?
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Post by cloud on May 5, 2023 21:13:32 GMT
Can anyone from the Trust tell us if the investor is Atlas, the group which has bought the remanants of Worcester Warriors? Who owns Worcester Raiders ?
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Post by stanround on May 6, 2023 8:00:26 GMT
I asked that very question of Raiders chairman a few months back and was given the address of a sports management company in Cheltenham. On the question of Atlas, O'toole and sandford lost their American backing a while back. They literally haven't got two ha'pennies to rub together. It was the owner of wasps who lent them the money to complete the sixways take over. Anyway, Sixways isn't the only site or possible investor for a sports ground in the Hindlip area.
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Post by cloud on May 6, 2023 20:28:56 GMT
I am also a wcfc shareholder, so would like to know what is going on from that side.
Who represents us nowadays? Who has been invited to the meeting as a wcfc shareholders representative?
Hopefully wcfc trust and wcfc shareholders will receive some info soon.
Need for openness.
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Post by stanround on May 7, 2023 7:58:40 GMT
I hear what you are saying about openness. However, surely trust and wcfc shareholders have a right to know what is happening first, rather than read about it in the public domain. The correct way forward is to gather all the facts. Call a meeting and put those facts before us all. Get feedback/vote and decide a course of action. We all have a common interest and that is a love of the City.
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Post by Woodenose on May 8, 2023 17:26:48 GMT
NOTICE OF A SPECIAL GENERAL MEETING
Notice is hereby given that a Special General Meeting of the Worcester City Football Club Supporters' Trust will be held at on Wednesday May 24 th, 2023, at 18:30 at The Graeme Hick Pavilion, Worcestershire County Cricket Club, County Ground, New Road, Worcester. WR2 4QQ.
For the following purpose:
1. To discuss and then vote on the following special resolution:
"The board of Worcester City FC Supporters’ Trust believe the financial state of the club combined with the limited scope we currently have for investment means that we must consider all options to ensure the long-term security of the club.
The Club has been given an opportunity to secure the significant investment which is needed but this investment would mean the majority shareholding held by the Trust being transferred to the new investor. We have sought written guarantees and protections that would be put in place to safeguard the long-term future of the club and to retain fan influence and involvement.
Therefore, the Board proposes that the trust' 51% shareholding in Worcester City Football Club Limited be transferred to Simon John Lancaster subject to satisfactory written protections signed and agreed by both parties subsequent to this vote."
As per the trust rules, a 75% majority of those casting votes will be required to pass this resolution. At the meeting you will hear the views of the Supporters’ Trust board, the investor mentioned above and a representative of the football club board and details of the proposed protections to be put in place before a vote is put to those present.
Members who wish to vote by proxy can use the form below.
The Supporters' Trust Board recommends that members vote for this proposal.
Please note that only members signed up as of 08/05/2023 are eligible to vote on this special resolution.
George Squires (Secretary) On behalf of the board of Worcester City FC Supporters’ Trust
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Post by Woodenose on May 8, 2023 17:29:24 GMT
Dear Trust member, the motion sent to you previously has been amended slightly. Because we need to give 14 days’ notice of a Special General meeting, we have had to change the date of the meeting.
Please note: If you have already returned a proxy vote you will have to submit a new form if you are unable to attend in person.
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