WWFC Acquisition Update
Members Acquisition Update September 4th 2019
As we are sure that you will know by now, Rob Couhig has been in discussions with the Trust to acquire 75% of the shares of WWFC, since late June. Those discussions have now reached the stage where the deal structure has been broadly agreed between the lawyers representing both parties. There are still a number of issues that need to be finalised and it is hoped that these can be agreed in the next two to three weeks.
Assuming that these are resolved in that time frame, then we would hope to get an agreement signed with Rob Couhig by the end of September. This will of course need to be ratified by 75% of Legacy Members voting in favour of the proposed deal. As soon as the deal is finally agreed a meeting of all Trust Members will be called to update them on the overall shape and details of the agreement and then the process of getting Legacy Members to vote will be started.
The Adams Park Stadium will remain 100% Trust owned. Neither the Club nor the Stadium will hold any debt, nor will the assets be available to be used as security. The enshrined rights will also be protected.
A Legacy Member is someone who has been a STH for four consecutive seasons, including this one and who is a member of the Trust. The cut-off date for becoming a Legacy member and being able to vote on the deal, is end of day on 21st September. Trust membership costs £10 and you can join by filling in the form on the Trust website, (Click Membership and Rules at top of home page) or visiting the Trust table in the Caledonian suite, prior to one of the next three homes games against Lincoln, Accrington or Portsmouth.
If there are any Trust Members that have any concerns that would prevent them from supporting this proposal, then please contact Trevor Stroud, [email protected] or Rob Couhig, [email protected] in order to try to resolve them.
We hope that the Legacy Members will support this agreement when it is put to the vote, as we, your Trust Board, sincerely believe that it is the right deal to ensure the long term survival of the Football Club and to make certain that we continue the great start to the season that we have made in League 1.
There will also be a Fans Forum at Adams Park in the Caledonian Suite on September 19th, which will be hosted by Trevor Stroud, Rob Couhig and Gareth Ainsworth. This will be an opportunity for fans to discuss any issues relating to the Club, the Trust and the playing side of the business. Full details will be published later on the Club website. We look forward to seeing as many of you there as possible.
On behalf of the Trust Board