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The consortium have finally served notice on the club to hold an EGM in an attempt to end the uncertainty surrounding this situation.
Basis of this being called is to discuss various points, a couple of which involves changing the current constitution of the club as well forcing the club to put their offer up to a vote to members - something they have outright refused until now.
It should be clear that the consortiums' objective has only ever been one to secure the long term future of the club as opposed to going down a fly-by- night route a la Hornchurch, Rushden etc.
The calling of this EGM is the 1st step in hopefully securing that future!
EGM
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Auntie Merge
- Posts: 2200
- Joined: Fri Oct 18, 2013 3:43 pm
Which consortium is this? The new Tamplin consortium or the Goodwin consortium?
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Auntie Merge
- Posts: 2200
- Joined: Fri Oct 18, 2013 3:43 pm
That is good news.
I hate the way the club is steamrollering to sell out, without thinking of the long term consequences.
I'm also very concerned about how certain members of the board are cosying up to Tamplin.
I hate the way the club is steamrollering to sell out, without thinking of the long term consequences.
I'm also very concerned about how certain members of the board are cosying up to Tamplin.
I'm giving this one a swerve.
Only to add that if the consortium are serious they'd offer more money than the other bloke(Tampon or whatever his name is)
Your selling a car for 5 grand,some stranger offers you 6 grand but a mate offers you 4.Game over surely ??
oh and....
There is no room for nostalgia in business,being an explayer should not buy any favours,especially if your offer is not good enough.
Only to add that if the consortium are serious they'd offer more money than the other bloke(Tampon or whatever his name is)
Your selling a car for 5 grand,some stranger offers you 6 grand but a mate offers you 4.Game over surely ??
oh and....
There is no room for nostalgia in business,being an explayer should not buy any favours,especially if your offer is not good enough.
Bollix to Shampoo, it's real poo we want !
Arnu is right in saying that the Ward/East/Goodwin/Hanning consortium need to come up with more money if they expect the board to support them. The board can't recommend to the members a deal that is for a fraction of the competing offer.
That said, the members could put it to a resolution and vote for it.
That said, the members could put it to a resolution and vote for it.
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BrexitDagger
- Posts: 28
- Joined: Mon Jul 04, 2016 11:50 am
Further to the initial post on this thread, please see as follows, content of letter posted to members dated 1 August 2016;
Dear Member,
General Meeting of Dagenham & Redbridge Football Club Limited
Those present at the recent informal meeting will recall it was agreed that the directors would call a General Meeting to change the constitution of the Club to permit external investment. Since this has not happened, we have served a formal notice on the directors requiring them to call that meeting.
We should stress that we have only taken this action after careful consideration and with great reluctance, but we believe that these matters must be brought to a speedy conclusion to bring an end to the current uncertainty which is so unsettling for our club. Furthermore, we feel that we have been left with no alternative but to do this, as the directors refuse to put our proposal to you, the members who are the owners of the club, so that you may decide.
The notice contains a number of resolutions for you to vote on at the meeting which we hope that the directors will convene without delay. The resolutions are, of necessity, phrased in legal jargon, but what they are seeking to achieve is this.
1. To authorise and instruct the directors to transfer the business of the Club into a new company. All current members will become shareholders in this company, which will able to issue new shares in exchange for cash investment. That will achieve what was agreed at the recent informal meeting. The new company will be a private company and there will be no public offer of shares.
2. To increase the maximum permitted number of directors to 12. This will permit the election of four more directors to the board.
3. To appoint four new directors, namely John East, Brian East, Gerry Hanning and John Goodwin.
4. To consider and, if you think it appropriate, to approve the offer from the consortium comprising John East, Brian East, David Ward, Lee Goodwin and John Goodwin, (“Consortium”) to invest £200,000 into the new company in exchange for 51 per cent of its shares, leaving the members with 49 per cent.
We hope that the directors will now call this meeting without delay and we will write to you again when it has been called.
Yours sincerely, for and on behalf of the Consortium,
Dear Member,
General Meeting of Dagenham & Redbridge Football Club Limited
Those present at the recent informal meeting will recall it was agreed that the directors would call a General Meeting to change the constitution of the Club to permit external investment. Since this has not happened, we have served a formal notice on the directors requiring them to call that meeting.
We should stress that we have only taken this action after careful consideration and with great reluctance, but we believe that these matters must be brought to a speedy conclusion to bring an end to the current uncertainty which is so unsettling for our club. Furthermore, we feel that we have been left with no alternative but to do this, as the directors refuse to put our proposal to you, the members who are the owners of the club, so that you may decide.
The notice contains a number of resolutions for you to vote on at the meeting which we hope that the directors will convene without delay. The resolutions are, of necessity, phrased in legal jargon, but what they are seeking to achieve is this.
1. To authorise and instruct the directors to transfer the business of the Club into a new company. All current members will become shareholders in this company, which will able to issue new shares in exchange for cash investment. That will achieve what was agreed at the recent informal meeting. The new company will be a private company and there will be no public offer of shares.
2. To increase the maximum permitted number of directors to 12. This will permit the election of four more directors to the board.
3. To appoint four new directors, namely John East, Brian East, Gerry Hanning and John Goodwin.
4. To consider and, if you think it appropriate, to approve the offer from the consortium comprising John East, Brian East, David Ward, Lee Goodwin and John Goodwin, (“Consortium”) to invest £200,000 into the new company in exchange for 51 per cent of its shares, leaving the members with 49 per cent.
We hope that the directors will now call this meeting without delay and we will write to you again when it has been called.
Yours sincerely, for and on behalf of the Consortium,