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We'd just like to provide an update to Trust members following our announcement earlier in the week that we intended to call for an EGM. We have delivered a letter to the club this morning where we have formally called for that EGM.
In the past 48 hours, we have been in contact with a number of shareholders, and we were delighted that we had a total of 54 unique shareholders backing our call for an EGM which equated to around 25% of the total shareholding.
A massive thank you to all supporters for their backing over this. We will update you once we have a date for the meeting.
I wonder that out of the other 75% of shareholders with also vote for an EGM.. With what the yanks said about the club i think they just might..
[Post edited 16 Apr 2021 11:59]
My all time favourite Dale player Mr Lyndon Symmonds
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Trust EGM update on 11:33 - Apr 30 with 2625 views
So, the '1907' defence is complete eyewash. Quelle surprise. This lot work on the principle that 'bullsh!t baffles brains'.
It doesn't.
Well, given there are articles available from the club that are dated later than 1907 and reference an Act dated later than 1907, and given these later articles reference a minimum number of Directors of SEVEN, you would have to question the accuracy of the reasons given for not holding an EGM at this time, and also you would have to question why "a further resolution may be required whereby replacement Directors were proposed" given that the articles appear to allow for 5 members to hold an EGM in the absence of any Director making themselves available within the prescribed timescales.
The Trust has taken further legal advice and appear confident that this has clarified their needs to move this forward.
“the Club’s Articles from 1907 that demands a minimum number of Directors at the Club. With our resolutions involving all four directors standing for re-election, there was a risk that following an EGM, the Club would be left below the minimum number of Directors. “
The articles that the club provided me with last year are dated 18th July 2010 and reference the Companies (Consolidation) Act of 1908.
Where does 1907 come into this argument?
Clause 76 of these articles states “The number of Directors shall not be less than seven and not more than fifteen”
(There are also several references to a Secretary in the articles, a vacant position since John Smallwood resigned months ago.)
With regards the calling of an extraordinary general meeting, clause 57 states “If at any time there shall not be present in England and capable of acting sufficient Directors to form a quorum the then continuing Director or Directors in England capable of acting, or if there shall be no Directors, then any five members may commence an extraordinary meeting of the Company.” (I think 49thSeasons mention of 3 for a quorum refers to a general meeting)
Clause 92: “The Company in general meeting may by special or extraordinary resolution remove any Director before the expiration of his period of office and may by an extraordinary resolution appoint another person in his stead. The person so appointed shall hold office during such time only as the Director in whose place he is appointed would have held the same if he had not been removed.”
Clause 70: “ If any member be a lunatic or idiot he may vote by his Committee, curator bonis or other legal curator.”
Is clause 70 the sanity clause
'Only happy when you've got it often makes you miss the journey'
As I see it, Andrew Kelly and Chris Dunphy no longer get on. Andrew left the Board whilst Dunphy was in charge didn't he? He may indeed have had respectful meetings with Chris, but that doesn't mean he believes that Chris is the best person to take back control of the Board. If Kelly and others were looking for other investors they may want those talks to conclude first.
If the EGM was about forcing the Board to put themselves up for election then there has to be options for the shareholders to consider. Holding an EGM to force the 4 existing directors to seek re-election might simply result in the status quo or all 4 Board members resigning. Surely there needs to be a credible alternative that would have the support of 51% of the shareholders before an EGM is called. I am not clear whether that level of canvassing has been achieved and whether there is a group of able people ready to take charge beyond just Chris. Anybody know?
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Trust EGM update on 11:56 - Apr 30 with 2524 views
As I see it, Andrew Kelly and Chris Dunphy no longer get on. Andrew left the Board whilst Dunphy was in charge didn't he? He may indeed have had respectful meetings with Chris, but that doesn't mean he believes that Chris is the best person to take back control of the Board. If Kelly and others were looking for other investors they may want those talks to conclude first.
If the EGM was about forcing the Board to put themselves up for election then there has to be options for the shareholders to consider. Holding an EGM to force the 4 existing directors to seek re-election might simply result in the status quo or all 4 Board members resigning. Surely there needs to be a credible alternative that would have the support of 51% of the shareholders before an EGM is called. I am not clear whether that level of canvassing has been achieved and whether there is a group of able people ready to take charge beyond just Chris. Anybody know?
Chris did propose a new board to include the executors of Cloughie's estate.
The EGM was not just about forcing the Board to seek re-election - there were 3 questions to be answered that preceded the re-election as I see it. I suspect that if the answers extracted to those questions were damning, some or all the board would fail to be re-elected.
I expect that an emergency interim board could be formed, subject to ratification at the next and imminent AGM.
I have no idea of the levels of canvassing and expect that the board are holding out for investor agreement soon in order to present as an alternative to the Trust and significant shareholders demand for the EGM.
Chris did propose a new board to include the executors of Cloughie's estate.
The EGM was not just about forcing the Board to seek re-election - there were 3 questions to be answered that preceded the re-election as I see it. I suspect that if the answers extracted to those questions were damning, some or all the board would fail to be re-elected.
I expect that an emergency interim board could be formed, subject to ratification at the next and imminent AGM.
I have no idea of the levels of canvassing and expect that the board are holding out for investor agreement soon in order to present as an alternative to the Trust and significant shareholders demand for the EGM.
Fair point.
Like you, I think they are trying to find alternatives before they concede defeat.
Here we are on the eve of what might be our last home game in League One and it feels like a wake.
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Trust EGM update on 12:31 - Apr 30 with 2431 views
Chris did propose a new board to include the executors of Cloughie's estate.
The EGM was not just about forcing the Board to seek re-election - there were 3 questions to be answered that preceded the re-election as I see it. I suspect that if the answers extracted to those questions were damning, some or all the board would fail to be re-elected.
I expect that an emergency interim board could be formed, subject to ratification at the next and imminent AGM.
I have no idea of the levels of canvassing and expect that the board are holding out for investor agreement soon in order to present as an alternative to the Trust and significant shareholders demand for the EGM.
But Dalenet's point is still valid - surely the appointment of an emergency or any other kind of Board depends entirely on how the major shareholders are planning to cast their votes - if at all. That's compounded by the fact those major shareholders are neither on the Board nor wanting to be. Agree about alternative investment strategy and could it be the AGM will supercede the EGM?
Some response from the chairman downwards io the trust questions..
Also they mention investors but nothing set in stone will that mean that these so called investors are waiting upon the finality of relegation and their probably investiments be minimal at least...
One thought though are Dale heading into administration! Set to be announced at the seasons end thus citing the lack of funds due to covid.. That would not surprise me one bit.
All i hope is that Andrew Kelly and Chris Dunphy come to an arrangement failure to sort out this mess properly at satisfactory for the supporters will cause financial problems with the reduced money coming in from season tickets and sales if its true what many supporters have said over the past few months.....
My all time favourite Dale player Mr Lyndon Symmonds
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Trust EGM update on 12:54 - Apr 30 with 2371 views
Like you, I think they are trying to find alternatives before they concede defeat.
Here we are on the eve of what might be our last home game in League One and it feels like a wake.
>The allegations of “serious internal issues” made about the running of the Club from two of the Club’s leading Shareholders, and a subsequent lack of dealing with them, which has led to their decision to step back from any involvement in the Football Club
>The circumstances behind the awarding of a new contract to the First Team Manager and the subsequent withholding of this information
We should not lose sight of these questions in all of this, particularly the first one. It would be interesting to know if the Americans have made other shareholders aware of the detail of their allegations.
Seems that there will be an EGM at some point in the near future. The AGM will be in June. Season ticket sales not until 21st June depending on crowds numbers allowed. Admitted to poor communication, said talks continue with potential investors. A deal will be presented soon, (not sure if that is soon in the geological aspect of the word) Lack of training ground mentioned again. NDA's mentioned. Spoke about social media black out.
'Only happy when you've got it often makes you miss the journey'
Seems that there will be an EGM at some point in the near future. The AGM will be in June. Season ticket sales not until 21st June depending on crowds numbers allowed. Admitted to poor communication, said talks continue with potential investors. A deal will be presented soon, (not sure if that is soon in the geological aspect of the word) Lack of training ground mentioned again. NDA's mentioned. Spoke about social media black out.
Every body else joining in with our clubs media block out !
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Trust EGM update on 13:27 - Apr 30 with 2249 views
The articles are effectively the company rule book and are binding on Directors and shareholders.
They can be amended from time to time and this process is allowed for.
If you break the rules, then there are consequences allowed for in the articles.
The calling of an EGM and seeking of answers before a re-election vote is one route available.
So Directors can flout the articles with the consequence of facing a shareholder vote which, should it go their way, they can then amend said articles
It strikes me, even more so in light of today's DB interview, there's a high degree of confidence they won't be troubled by the outcome of a shareholder vote
So Directors can flout the articles with the consequence of facing a shareholder vote which, should it go their way, they can then amend said articles
It strikes me, even more so in light of today's DB interview, there's a high degree of confidence they won't be troubled by the outcome of a shareholder vote
Where you see confidence, I see arrogance.
If I hadn't seen such riches, I could live with being poor
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Trust EGM update on 15:41 - Apr 30 with 1935 views
Seems that there will be an EGM at some point in the near future. The AGM will be in June. Season ticket sales not until 21st June depending on crowds numbers allowed. Admitted to poor communication, said talks continue with potential investors. A deal will be presented soon, (not sure if that is soon in the geological aspect of the word) Lack of training ground mentioned again. NDA's mentioned. Spoke about social media black out.
Late season ticket sales could also mean late offers of contract renewals and another late scramble to get a squad together.
Can’t think that a supporters organisation who are doing their best to inform supporters about the situation at their football club could ever be considered as doing anything that’s “a little bit inflammatory”.
Seems that there will be an EGM at some point in the near future. The AGM will be in June. Season ticket sales not until 21st June depending on crowds numbers allowed. Admitted to poor communication, said talks continue with potential investors. A deal will be presented soon, (not sure if that is soon in the geological aspect of the word) Lack of training ground mentioned again. NDA's mentioned. Spoke about social media black out.
Does it really matter what people at Wimbledon think about our training ground situation?
Does it?
They have only gained ownership of their own ground in May last year after significant investment from a local businessman.
And they train at Kings College London training ground
We are probably coming to the end of a 7 season stint in league 1 with the training facilities as they are.
Let's get our priorities right - first team playing squad and management, fan engagement, debt management.
From the fans forum February 2020
... a site has been identified by Rochdale Council in conjunction with a Midlands based house builder, who apparently have been told planning permission for housing will be granted if a 6 pitch training facility is built. Land is in Heywood. 3-4 weeks away from a decision.
This seeming obsession with our own training ground to the detriment of all else is becoming our downfall.
We are probably coming to the end of a 7 season stint in league 1 with the training facilities as they are.
Let's get our priorities right - first team playing squad and management, fan engagement, debt management.
From the fans forum February 2020
... a site has been identified by Rochdale Council in conjunction with a Midlands based house builder, who apparently have been told planning permission for housing will be granted if a 6 pitch training facility is built. Land is in Heywood. 3-4 weeks away from a decision.
This seeming obsession with our own training ground to the detriment of all else is becoming our downfall.
[Post edited 30 Apr 2021 17:42]
Steve Parkin has wanted a training ground since he was playing for Mansfield in 1996.
We are probably coming to the end of a 7 season stint in league 1 with the training facilities as they are.
Let's get our priorities right - first team playing squad and management, fan engagement, debt management.
From the fans forum February 2020
... a site has been identified by Rochdale Council in conjunction with a Midlands based house builder, who apparently have been told planning permission for housing will be granted if a 6 pitch training facility is built. Land is in Heywood. 3-4 weeks away from a decision.
This seeming obsession with our own training ground to the detriment of all else is becoming our downfall.
[Post edited 30 Apr 2021 17:42]
Apparently we have missed out on some stellar signings due to the lack of a training facility. Would the last 4 seasons of our last 7 years in the third tier have been any less stressful had we had one?
'Only happy when you've got it often makes you miss the journey'
Some standard stuff re: AGM, season tickets, attendance.
Why was the most unpopular director in a long time who becomes increasingly implausible as time goes on doing the interview? Lacks gravitas.
The Trust's statement was not inflammatory, it was explanatory, and it patronising to suggest only the club's legal advisors can help them in the way he did. The FSA legal team will be vastly experienced in these matters. Must be a lot spent on lawyers at the moment, with EGM's and NDA's on the go.
Two of the three matters outstanding that the Trust raised with the club, i.e..
The allegations of “serious internal issues” made about the running of the Club from two of the Club’s leading Shareholders, and a subsequent lack of dealing with them, which has led to their decision to step back from any involvement in the Football Club
The circumstances behind the awarding of a new contract to the First Team Manager and the subsequent withholding of this information
are not even mentioned. "I accept communication could have been better". Again, and again and again ad nauseum with no change. Still these questions that have been around for a long time remain unanswered.
Relegation mustn't be relevant either as it didn't warrant a mention.
So, social media companies are "almost a law unto themselves". Fair point. Observing events at the club over the past 12 months, you get the feeling someone else is as well.
End of the month. Another few grand in the bank. Happy days eh? Makes you smile.
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