- Joined
- Nov 5, 2002
- Messages
- 15,460
- Reaction score
- 4,792
- Points
- 144
Dear Fellow Supporter,
We thought it would be helpful to provide an update on things since our last communication in January.
Tragic world events have overtaken us all and have put everything in perspective. Clearly, like everyone else, our first thoughts are with those who have been directly affected by this dreadful virus.
As you may be aware we have continued to make donations to the Club from 1st October 2019 in accordance with your instructions. In addition to this we have also applied the same % split (65:35) to donations received from the date of the acquisition until 30th September 2019. Your Directors took this decision on the basis that we felt that Supporters had the same knowledge of affairs after the acquisition was announced and therefore had we taken a poll in early July we would have very likely had the same poll result. We are delighted to say that in total we have passed over £90,000 to the Club since the acquisition.
At our next Board Meeting we had intended to consider what to do about funds that we held at 30th June 2019, just before the acquisition. We are very clear that Members and donators had given us funds on the clear understanding that these funds were to be passed to the Club in exchange for shares. This is stated in our Articles and indeed had been consistently reported in all our communications. With this in mind we felt that this was not a decision to be made by your Directors as we cannot at any time invite donations from you indicating we will do one thing with your money only to do something else. We never forget that this is your Company and it benefits from your generous donations.
As previously stated events have moved on and we want to continue to help our Club. With this in mind we would like to suggest that we donate 65% of the funds that we held at 30th June last year to the Club now to help us get through this difficult period. If you agree, this would allow us to immediately transfer a further £16000 to the Club. We would also like to suggest that we shortcut this process by simply pushing ahead unless we receive any material dissenting voices before 5pm on Wednesday of this week. If we receive such objections to this course of action we can of course revert to taking a vote in order to receive clearer instructions. We do hope you find this an acceptable way to proceed but of course as ever await your feedback.
Finally, we can confirm that we will be seeking to significantly increase our help to our Club and will write again shortly.
Wonder if this means some kind of relaunch?
We thought it would be helpful to provide an update on things since our last communication in January.
Tragic world events have overtaken us all and have put everything in perspective. Clearly, like everyone else, our first thoughts are with those who have been directly affected by this dreadful virus.
As you may be aware we have continued to make donations to the Club from 1st October 2019 in accordance with your instructions. In addition to this we have also applied the same % split (65:35) to donations received from the date of the acquisition until 30th September 2019. Your Directors took this decision on the basis that we felt that Supporters had the same knowledge of affairs after the acquisition was announced and therefore had we taken a poll in early July we would have very likely had the same poll result. We are delighted to say that in total we have passed over £90,000 to the Club since the acquisition.
At our next Board Meeting we had intended to consider what to do about funds that we held at 30th June 2019, just before the acquisition. We are very clear that Members and donators had given us funds on the clear understanding that these funds were to be passed to the Club in exchange for shares. This is stated in our Articles and indeed had been consistently reported in all our communications. With this in mind we felt that this was not a decision to be made by your Directors as we cannot at any time invite donations from you indicating we will do one thing with your money only to do something else. We never forget that this is your Company and it benefits from your generous donations.
As previously stated events have moved on and we want to continue to help our Club. With this in mind we would like to suggest that we donate 65% of the funds that we held at 30th June last year to the Club now to help us get through this difficult period. If you agree, this would allow us to immediately transfer a further £16000 to the Club. We would also like to suggest that we shortcut this process by simply pushing ahead unless we receive any material dissenting voices before 5pm on Wednesday of this week. If we receive such objections to this course of action we can of course revert to taking a vote in order to receive clearer instructions. We do hope you find this an acceptable way to proceed but of course as ever await your feedback.
Finally, we can confirm that we will be seeking to significantly increase our help to our Club and will write again shortly.
Wonder if this means some kind of relaunch?
