Shareholders Association force EGM

[roydo]

Well done to them Do the questions/agenda get published publicly before the meeting?

 

[Tubey]

Such a shame that it needed to be forced. Ridiculous club.

 

[BoysInBlue]

Well done to them Do the questions/agenda get published publicly before the meeting?

Yes mate, the agenda for the night has already been published on the official EFC site. It's one of those things that by law, the club have to be 100% transparent about and keep everyone in the loop about publicly:

http://www.evertonfc.com/news/archive/2013/06/07/notice-for-club-shareholders

Notice For Club Shareholders
Friday 7th June 2013 18:22

THE EVERTON FOOTBALL CLUB COMPANY LIMITED

NOTICE OF GENERAL MEETING

NOTICE IS HEREBY GIVEN, that, pursuant to a Requisition made in accordance with the provisions of section 303 Companies Act 2006 and received by the Company on 17 May 2013, a general meeting of the above named Company will be held at the Liverpool Philharmonic Hall, Hope Street, Liverpool L1 9BP on Wednesday 26 June 2013 at 6.00pm to consider the matters raised in the said Requisition namely:

BUSINESS OF THE MEETING

1. Obtaining from the Chairman and Board of Directors an explanation for their September 2008 decision to amend the Articles of Association such that Annual General Meetings need no longer be held and their reasons for not calling any General Meeting in the 5 years since.

2. Obtaining from the Board of Directors their appraisal of the financial performance of Everton Football Club Company Ltd over the past five years since the 128th and last AGM was held, specifically to answer questions from Shareholders concerning the financial performance of Everton Football Club Company Ltd over the past 5 years and to hear the Board of Directors future plans for the club.

3 . To pass a resolution, on receipt of the answers given by the board to the aforementioned questions, to require that the Directors of Everton Football Club Company Ltd amend the Articles of Association to ensure that the longstanding tradition of holding formal Annual General Meetings is permanently reinstated.

By order of the Board

G Ingles
Company Secretary
Goodison Park
Liverpool L4 4EL
7 June 2013

NOTES:

1. A member entitled to attend and vote at the above meeting convened may appoint one or more proxies to exercise any of his/her rights to attend, speak and vote at that meeting on his/her behalf. If a member appoints more than one proxy, each proxy must be entitled to exercise the rights attached to different shares. A proxy need not be a member of the Company.

2. A proxy may only be appointed using the procedures set out in these notes. To appoint a proxy a member must complete, sign and date a proxy form and deposit it at the registered office of the Company by 6.00pm on Monday 24 June 2013. Any power of attorney or any other authority under which the proxy form is signed (or a duly certified copy of such power or authority) must be enclosed with the proxy form.

3. In order to revoke a proxy appointment, a member must sign and date a notice clearly stating his intention to revoke his proxy appointment and deposit it at the registered office of the Company by 6.00pm on Tuesday 25 June 2013.

4. Any corporation which is a member of the Company may authorise one or more persons (who need not be a member of the Company) to attend, speak and vote at the meeting as the representative of that corporation. A certified copy of the board resolution of the corporation appointing the relevant person as the representative of that corporation in connection with the meeting must be deposited at the registered office of the Company prior to the commencement of the meeting.

5. The stock transfer books of the Company will be closed from 5pm on Friday 21 June 2013 until 9am on Friday 28 June 2013.

There's more information on the Everton Shareholders' Association website here:

http://www.efcsa.org/category/news-articles/

Basically this whole situation has been building for the last 5 years. The Shareholders Association are very old school and kept a dignified silence (critics might suggest they were inordinately 'inactive') for several years, not rocking the boat, but the disquiet over repeatedly having their requests for the reinstatement of the AGMs turned down by the club has proven too much, leading to this EGM being legally forced.

I really hope the meeting goes well, and that there is constructive dialogue and openness from both sides, and that the club don't get upset by criticism over their position. We really need to move forward and we can only do all that if we move forward together. It's really up to the club, as they are the ones who have not wanted to meet for years now. The general feeling is that they didn't want to meet because they have something to hide and don't like hard questions that they have to give embarrassing answers to.

 

[kev101]

Now is not the time for this.

 

[BoysInBlue]

Now is not the time for this.

Don't you want to know why the football club you support is run so poorly, in so much as the directors do not invest money into the club, and as a result, we nearly always have to sell players to buy players? That's just one very small example of being poorly run.

You're almost right. It should have been 5 years ago, or 4 years ago, or 3 years ago, or 2 years ago, or 1 year ago...

Better late than never.

Hopefully someone asks why none of the directors ever invest any money into the club. It's all very well saying 'We're looking for a buyer, we're looking to sell, we can't find anyone...' But you can't just invest nothing in meantime and effectively let the club stagnate financially. The Sell to Buy policy is stagnation and not investing money into the club.

There are some rich people on the Everton board too. Bill Kenwright is chairman and is said to be worth £33m. Robert Earl, the second largest shareholder, has a supposed net worth of £240m.

http://en.wikipedia.org/wiki/List_of_English_football_club_owners#cite_note-FourFourTwo-1

That makes Earl richer than Tony Fernandes, Sir John Madejski and almost on a par with David Gold.

So we aren't exactly talking paupers here.

 

[Bluenose1995]

£33 and £240 mil is pittance in modern day football mate only Granchester has the cash to really push us as a top 4 team and he wont invest whilst Redcoat is owner

 

[BoysInBlue]

£33 and £240 mil is pittance in modern day football mate only Granchester has the cash to really push us as a top 4 team and he wont invest whilst Redcoat is owner

Maybe so in terms of pushing for top 4, but £240m is not a pittance - that's more than Tony Fernandes & John Madejski have, and it's almost on a par with David Gold's fortune.

It's also absolutely NO excuse at all to not invest a single penny into the club in his 7 years at the club.

Why exactly does Robert Earl own 23% of Everton Football Club? He doesn't draw a wage. He doesn't invest any money. He watches precisely ONE game a season - at White Hart Lane, Spurs vs Everton, has done the last 2 seasons running.

His last trip to a Goodison game was SIX YEARS AGO, when he came with Sly Stallone.

So why does this very rich man own nearly a quarter of Everton and what does he get out of it? And why won't he invest what would be a tiny amount of his fortune to make what would be a big difference to the club?

 

[nsmith1721]

Apologize for the question but when is this meeting?

 

[Deleted member 28206]

Apologize for the question but when is this meeting?

Monday from what I can tell.

 

[Coach]

Hopefully someone asks why none of the directors ever invest any money into the club. It's all very well saying 'We're looking for a buyer, we're looking to sell, we can't find anyone...' But you can't just invest nothing in meantime and effectively let the club stagnate financially. The Sell to Buy policy is stagnation and not investing money into the club.

How much of your own money do you think is a reasonable amount to put in? Going on what you say that Kenwright is worth £33m then he has put in about 20% of this - think about how much you are worth and ask yourself if would you put one fifth of it into Everton?

And, what do you mean by invest mate?

Do you mean donate money i.e. just give your own money to Everton and never get anything back for it except for the fans' plaudits / abuse. Or do you mean put money in and expect to get it back again?

 

[chicoazul]

Well done for forcing it through and good luck to them. It's a piss take that the club swerve sitting down once a year and answer some questions from the shareholders.

 

[Azza]

Everyone looking forward to TBU 'peaceful protest' outside before the meeting?

 

[Muggins]

Well done for forcing it through and good luck to them. It's a piss take that the club swerve sitting down once a year and answer some questions from the shareholders.

Exactly mate, well put. If this was in Italy or Spain it would be recorded and put on the clubs TV channel and stuff.

I think the 3 major shareholders of our club are stuck in a bygone era. These days people ask questions about football clubs and they want answers or its digital age ruin as proved by the badge affair.

I think it's good the fans who made this happen are going about it the right way instead of shouting through the railings when they pull up in the Park End car park.

 

[Bluenose1995]

Maybe so in terms of pushing for top 4, but £240m is not a pittance - that's more than Tony Fernandes & John Madejski have, and it's almost on a par with David Gold's fortune.

It's also absolutely NO excuse at all to not invest a single penny into the club in his 7 years at the club.

Why exactly does Robert Earl own 23% of Everton Football Club? He doesn't draw a wage. He doesn't invest any money. He watches precisely ONE game a season - at White Hart Lane, Spurs vs Everton, has done the last 2 seasons running.

His last trip to a Goodison game was SIX YEARS AGO, when he came with Sly Stallone.

So why does this very rich man own nearly a quarter of Everton and what does he get out of it? And why won't he invest what would be a tiny amount of his fortune to make what would be a big difference to the club?

Tony fernandes apparantly has round £500 mil mate, according to the sunday times rich list

 

[Thuck ma Baws]

How much of your own money do you think is a reasonable amount to put in? Going on what you say that Kenwright is worth £33m then he has put in about 20% of this - think about how much you are worth and ask yourself if would you put one fifth of it into Everton?

And, what do you mean by invest mate?

Do you mean donate money i.e. just give your own money to Everton and never get anything back for it except for the fans' plaudits / abuse. Or do you mean put money in and expect to get it back again?

If you own a business you put your own money in. If you have no intention of putting money in why buy into the business. You're talking like the owners of Everton would be doing a favour by investing. If you were a plumber and your tools broke would you think it was ridiculous to consider investing in new tools?