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Trust Members - Special General Meeting

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Comments

  • Yes. I was waiting to see his this latest Harmsn meeting was handled. Trevor Stroud was on very shakey ground and risked failing at the ballot at November’s AGM had he needed to gain re-election. A managed withdrawal of one candidate was made so that he could avoid an election. He cannot avoid members this time .

    Yes , and I am a trust and legacy member.

  • Yes (I’m a trust but not legacy member)

  • I'm guessing there will be enough members there on Monday to get this through...

  • Nobody will be there on Monday, meeting postponed. Presumably so that Stroud can cling on by the fingernails for a few more weeks.

  • Maybe the power group behind Stroud wont let him relinquish his role at the top of the table ??

  • @drcongo said:
    Nobody will be there on Monday, meeting postponed. Presumably so that Stroud can cling on by the fingernails for a few more weeks.

    There's still a meeting, just no Americans with a bid proposal. If anything it's an even more suitable event.

  • No reason for it to be restricted to legacy members IMO. Stroud would be well advised to open this to all trust members and he should stand and take questions. Clear the air. Nothing to hide nothing to worry about.

  • There is no reason at all for it to be restricted. I wonder if it against the rules for a meeting to be legacy only if there is no vote at the end of it?

  • Doubt it @Midlander , would imagine they can invite whoever they like at any given time, agree it should be widened out.

  • The meeting is still just for legacy members on Monday. Seems an opportunity wasted

  • @Right_in_the_Middle said:
    The meeting is still just for legacy members on Monday. Seems an opportunity wasted

    Difficult to find a venue to take up to 1200 Trust members. We have kept it at The Hub which seats 400 or so in the hope of accommodating all Legacy Members who wish to attend. Streaming is being arranged.

  • If there were an obvious replacement I would support a No Confidence vote as well.

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  • tone_sutto said:
    Rule 102 hasn't been broken.

    Welcome to the Gasroom. I suppose I've seen more nonsensical first posts in my time.

  • edited January 2019

    @ReadingMarginalista, I believe that, technically, Rule 102 has not been broken. Given that the football club is a subsidiary of the Trust, it has been broken in spirit. That is just as serious, if the Trust value their credibility and want to retain the trust of members.

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  • edited January 2019

    @Steve_Peart - That may be the case, although that point is arguable.

    However, isn't one of the prime duties of the Trust Board to maintain the security of Adams Park as a separate entity. This charge has put the ownership of the ground at peril.

  • @Steve_Peart said:
    @ReadingMarginalista, I believe that, technically, Rule 102 has not been broken. Given that the football club is a subsidiary of the Trust, it has been broken in spirit. That is just as serious, if the Trust value their credibility and want to retain the trust of members.

    A bit like Bill Clinton constantly saying:
    "I did not have sexual relations with Monica Lewinsky" repeatedly.

    Prosecutor: "Bill, she kept the dress that you exploded over and hasn't had it dry cleaned, your DNA is all over it!

    Bill: "well, I didn't have intercourse with her, which is what I've been saying all along".

    Prosecutor: "Try telling Hilary that, I'm sure she will be fine with it"!

  • Seperation of football club and stadium is the entite point of FALLs existence and the Trust made it very clear that the stadium wasn't part of any sale or investment process.
    Borrowing money from one of several potential new club owners (whilst playing down or straight denying Mr Harman's interest) is bad pr at best, negligent and prescriptive at worst. Securing that particular loan against the stadium in this context is unforgivable really.
    It doesn't matter that it may have been done before in another context. It doesn't matter that it might technically just be legal.
    It also isn't right to say there are no other options whilst ignoring or hiding other investors interest.
    The fact that someone on the board is clearly leaking information , and info and inuendo from the likes of Marlow are concerning as they seem to be largely proven true, the board publicly are all over the place and seem keen to overplay financial issues rather than explain what they are doing about them all stinks too. For example we are supposed to have new caterers, yet food is still awful and in poor supply, lets hope they were chosen carefully and for the best reasons. Is this yielding more money to contribute to losses?
    Lastly where is the independent advice of Supporters direct , where are the working parties of interested trust members, where is the Americans outline proposal and why is there interest so desirable when others are left to the side?

  • @Steve_Peart said:
    @ReadingMarginalista, I believe that, technically, Rule 102 has not been broken. Given that the football club is a subsidiary of the Trust, it has been broken in spirit. That is just as serious, if the Trust value their credibility and want to retain the trust of members.

    The rule refers to assets of the Trust (or their subsidiaries) being used as security for any borrowing. Adams Park is the property of Frank Adams Legacy Limited, a 100% owned subsidiary of WWT, therefore relevant to Rule 102.
    The entity that actually takes out the loan is irrelevant.

  • Alan, why not use the stadium, we are football supporters and used to being out in the cold.

  • @AlanCecil said:

    @Right_in_the_Middle said:
    The meeting is still just for legacy members on Monday. Seems an opportunity wasted

    Difficult to find a venue to take up to 1200 Trust members. We have kept it at The Hub which seats 400 or so in the hope of accommodating all Legacy Members who wish to attend. Streaming is being arranged.

    Will all trust members be allowed to View he stream if they cannot attend and can they ask questions?

    You imply the reason for not throwing this open to trust members now is the size of the venue ? Can you confirm that it was discussed as board level and this is the reason for keeping it legacy members only?

  • @Steve_Peart said:
    @ReadingMarginalista, I believe that, technically, Rule 102 has not been broken. Given that the football club is a subsidiary of the Trust, it has been broken in spirit. That is just as serious, if the Trust value their credibility and want to retain the trust of members.

    It’s all in the interpretation I guess but it looks to har been broken very directly.

    The trust or subsidry cannot use Adams Park as security without a member vote . No member vote took place . They used Adams Park as security .

    The significant portion of revenue part doesn’t even need to come into it .

  • Can you also confirm if Trevor I'd going to resign, like we all want him to

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  • Meant 'is' obviously... bloody fat fingers

  • Does anybody know how Wycombe Wanderers Supporters Group Ltd fits into all of this? A quick look on Companies House shows them as being registered as "a person with significant control" back in December 2017.

    https://beta.companieshouse.gov.uk/company/07884604/filing-history

  • If he did resign maybe someone with the right experience and fair approach such as @Steve_Peart could step in as temporary Chairman if indeed he has the time and inclination to do so? I would certainly back him.

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  • @Twizz said:
    Does anybody know how Wycombe Wanderers Supporters Group Ltd fits into all of this? A quick look on Companies House shows them as being registered as "a person with significant control" back in December 2017.

    https://beta.companieshouse.gov.uk/company/07884604/filing-history

    That's the official name of Wycombe Wanderers Trust.

  • That's Companies House records for Frank Adams Legacy Ltd. I think that WWSGL must have been employed as some way to move the assets into FALL as WWSGL appears as the major creditor of FALL at ~£3.5M in the accounts

  • @marlowchair said:

    @AlanCecil said:

    @Right_in_the_Middle said:
    The meeting is still just for legacy members on Monday. Seems an opportunity wasted

    Difficult to find a venue to take up to 1200 Trust members. We have kept it at The Hub which seats 400 or so in the hope of accommodating all Legacy Members who wish to attend. Streaming is being arranged.

    Will all trust members be allowed to View he stream if they cannot attend and can they ask questions?

    You imply the reason for not throwing this open to trust members now is the size of the venue ? Can you confirm that it was discussed as board level and this is the reason for keeping it legacy members only?

    The Trust Board agreed to keep Monday's meeting for Legacy Members though any Trust member can register on https://www.facebook.com/groups/1930775593696898 to follow the live stream. We are hopeful we can set up so that people can ask questions off the live stream. (TBC)

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  • Thanks for the update Alan.
    All fellow gasroomers, lets make a big effort to keep the meeting as constructive and civil as possible. See all you top fans tomorrow.

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