Pie Of The Month Posted December 31, 2010 Report Share Posted December 31, 2010 http://www.ptfc.co.uk/files/ptfc_agm_agenda_20110131.pdf Agenda item 5. "Removal of share capital limit and extend authority of board of directors to issue shares" Is this part of David Beattie's big plan to raise the other £50k required? I do realise how sad this makes me that I'm reading the AGM agenda at 9pm on Hogmanay. Quote Link to comment Share on other sites More sharing options...
Allan Heron Posted December 31, 2010 Report Share Posted December 31, 2010 (edited) I hope this meeting will be more properly run than the recent ones but the agenda does suggest otherwise. The minutes of the Special General Meeting which authorised the PropCo transaction were not presented at the last AGM and do not appear to be up for agreement this time around. One wonders if the absence of this might prompt some legal beagles to consider if this might mean that the board have run the risk of exceeding their authority given that the formal minute of that meeting has not been approved by shareholders. I also wonder if it is appropriate (or even legal) for the board of directors to be re-elected (not, I hasten to add, appointed) en masse rather than being subject to an individual vote. What if you want to vote for Mr X, Mr Y and Mr Z but definitely want not to vote for Mr W? I'd want to know what the board's intentions are in relation to the question of shares. As it stands, all that is being proposed is that substantial power is being passed from the shareholders to the board. Frankly, shareholders should vote this down otherwise they will be the equivalent of turkey's voting for Christmas. Give shareholders a plan and if it makes sense, then they can vote that through. But it should always remain in the hands of shareholders rather than the board of directors (who remember currently do not represent a majority of shares in their own right). And finally, let's hope that the formal notices are sent to the correct people this time around. The last AGM was sent to an old mailing list which missed out recent additions and included a lot of people who had since passed on. This was not very professional in the first instance, and the club's (or, more specifically, Tom Hughes) reaction to some of the issues raised with him left much to be desired. Edited December 31, 2010 by Allan Heron Quote Link to comment Share on other sites More sharing options...
Allan Heron Posted December 31, 2010 Report Share Posted December 31, 2010 I do realise how sad this makes me that I'm reading the AGM agenda at 9pm on Hogmanay. Happy to join you Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted December 31, 2010 Report Share Posted December 31, 2010 Hopefully by the time that the AGM comes around the initiative that Mr Beattie has mentioned in his last two programme notes will have been explained. 2011 will certainly be an important year for PTFC, lets hope it gets of to a good start. Quote Link to comment Share on other sites More sharing options...
MerryHell Posted December 31, 2010 Report Share Posted December 31, 2010 I hope this meeting will be more properly run than the recent ones but the agenda does suggest otherwise.The minutes of the Special General Meeting which authorised the PropCo transaction were not presented at the last AGM and do not appear to be up for agreement this time around. One wonders if the absence of this might prompt some legal beagles to consider if this might mean that the board have run the risk of exceeding their authority given that the formal minute of that meeting has not been approved by shareholders.I also wonder if it is appropriate (or even legal) for the board of directors to be re-elected (not, I hasten to add, appointed) en masse rather than being subject to an individual vote. What if you want to vote for Mr X, Mr Y and Mr Z but definitely want not to vote for Mr W?I'd want to know what the board's intentions are in relation to the question of shares. As it stands, all that is being proposed is that substantial power is being passed from the shareholders to the board. Frankly, shareholders should vote this down otherwise they will be the equivalent of turkey's voting for Christmas. Give shareholders a plan and if it makes sense, then they can vote that through. But it should always remain in the hands of shareholders rather than the board of directors (who remember currently do not represent a majority of shares in their own right).And finally, let's hope that the formal notices are sent to the correct people this time around. The last AGM was sent to an old mailing list which missed out recent additions and included a lot of people who had since passed on. This was not very professional in the first instance, and the club's (or, more specifically, Tom Hughes) reaction to some of the issues raised with him left much to be desired. Would I be right in saying that Honved has arranged a Meet the Board night, or something like it in January? I'm sure any questions about these and other matters could be raised then, if you were able to attend, and hopefully resolved prior to the AGM. Quote Link to comment Share on other sites More sharing options...
Mediocre Pundit Posted January 1, 2011 Report Share Posted January 1, 2011 (edited) I hope this meeting will be more properly run than the recent ones but the agenda does suggest otherwise. The minutes of the Special General Meeting which authorised the PropCo transaction were not presented at the last AGM and do not appear to be up for agreement this time around. One wonders if the absence of this might prompt some legal beagles to consider if this might mean that the board have run the risk of exceeding their authority given that the formal minute of that meeting has not been approved by shareholders. I also wonder if it is appropriate (or even legal) for the board of directors to be re-elected (not, I hasten to add, appointed) en masse rather than being subject to an individual vote. What if you want to vote for Mr X, Mr Y and Mr Z but definitely want not to vote for Mr W? I'd want to know what the board's intentions are in relation to the question of shares. As it stands, all that is being proposed is that substantial power is being passed from the shareholders to the board. Frankly, shareholders should vote this down otherwise they will be the equivalent of turkey's voting for Christmas. Give shareholders a plan and if it makes sense, then they can vote that through. But it should always remain in the hands of shareholders rather than the board of directors (who remember currently do not represent a majority of shares in their own right). And finally, let's hope that the formal notices are sent to the correct people this time around. The last AGM was sent to an old mailing list which missed out recent additions and included a lot of people who had since passed on. This was not very professional in the first instance, and the club's (or, more specifically, Tom Hughes) reaction to some of the issues raised with him left much to be desired. Pardon the shit format-blame the iPhone, but... Seriously. It's sad that I no longer care. I trust the board as being the best people currently available to run the club. Let them get on with t. There was a time when I was a JT member and hoped it could be a strong voice. Sadly it wasted the opportunity. **** it. Mon the board-crack on and let's see where it takes us. Edited January 1, 2011 by Mediocre Pundit Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted January 1, 2011 Report Share Posted January 1, 2011 I am starting 2011 in a speculating frame of mind. Could the Club be planning to launch a share issue to deal with the shortfall and clear the historical debt? If they are, and it is successful, then we would be able to move forward debt free and operating on a break even budget. Existing shareholders may though see their shareholding diluted which could be an issue for the Trust. Quote Link to comment Share on other sites More sharing options...
Vom Itorium Posted January 1, 2011 Report Share Posted January 1, 2011 (edited) Why is the AGM being held on a Monday at 11am?? It has always been an evening thing and this only leads me to be suspicious that it is an attempt to have as few shareholders there as possible for whatever reason. Edited January 1, 2011 by Vom Itorium Quote Link to comment Share on other sites More sharing options...
Fellow Traveller Posted January 1, 2011 Report Share Posted January 1, 2011 Why is the AGM being held on a Monday at 11am?? It has always been an evening thing and this only leads me to be suspicious that it is an attempt to have as few shareholders there as possible for whatever reason. They maybe have to start that early to have enough time for item 1. Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted January 1, 2011 Report Share Posted January 1, 2011 Why is the AGM being held on a Monday at 11am?? It has always been an evening thing and this only leads me to be suspicious that it is an attempt to have as few shareholders there as possible for whatever reason. According to the agenda and the programme at the Raith game the AGM starts at 10am, I think it is just a typo on the website. Don't know why it is an earlier than usual start though - could be that there will be very important issues to be discussed. Quote Link to comment Share on other sites More sharing options...
Vom Itorium Posted January 1, 2011 Report Share Posted January 1, 2011 According to the agenda and the programme at the Raith game the AGM starts at 10am, I think it is just a typo on the website. Don't know why it is an earlier than usual start though - could be that there will be very important issues to be discussed. If there's important issues then surely holding it in the evening gives shareholders a better chance of being there than holding it on a Monday at 11am when people work?? All a bit bizarre once again from the corridors of power at Firhill. Quote Link to comment Share on other sites More sharing options...
Blackpool Jags Posted January 1, 2011 Report Share Posted January 1, 2011 According to the agenda and the programme at the Raith game the AGM starts at 10am, I think it is just a typo on the website. Don't know why it is an earlier than usual start though - could be that there will be very important issues to be discussed. This possibility troubles me even more than an attempt at a morning kick off. Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted January 1, 2011 Report Share Posted January 1, 2011 If there's important issues then surely holding it in the evening gives shareholders a better chance of being there than holding it on a Monday at 11am when people work?? All a bit bizarre once again from the corridors of power at Firhill. At least they have given plenty of notice so people who wish to attend can try and make the necessary arrangements. I do hope that there will be a good turnout as it is my belief that extremely important issues will be taking place over the next few months and big decisions will need to be made. Quote Link to comment Share on other sites More sharing options...
Blackpool Jags Posted January 1, 2011 Report Share Posted January 1, 2011 At least they have given plenty of notice so people who wish to attend can try and make the necessary arrangements. I do hope that there will be a good turnout as it is my belief that extremely important issues will be taking place over the next few months and big decisions will need to be made. All the more reason, in my opinion, why it should be an evening meeting. I really don't like the smell of a Monday morning meeting, given its importance. Quote Link to comment Share on other sites More sharing options...
Vom Itorium Posted January 2, 2011 Report Share Posted January 2, 2011 Never in the history of AGMs has it been on a Monday morning. Surely even you must be asking the question why Fawlty? Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted January 2, 2011 Report Share Posted January 2, 2011 Never in the history of AGMs has it been on a Monday morning. Surely even you must be asking the question why Fawlty? Not really, but that is because (like others) I think I know the reason - early start probably results in less people attending who might ask lots of questions. The date/time is one area for discussion but, for me, the really important issue is what will be discussed at the meeting. As I have said in a previous post I believe that item 5 on the agenda is the pre-cursor to a share issue that the Club will launch in an attempt to wipe the historic debt. Quote Link to comment Share on other sites More sharing options...
stolenscone Posted January 2, 2011 Report Share Posted January 2, 2011 Never in the history of AGMs has it been on a Monday morning. Surely even you must be asking the question why Fawlty? Do you mean PTFC AGMs or any AGMs? Quite common for companies to hold AGMs during work days. Who knows why it's at that time. Maybe it's just because it suits Billy Allan?? Anyway, can anyone remember any significant event or piece of information that's ever happened / been imparted at a Club AGM? I'm struggling to think of anything. Quote Link to comment Share on other sites More sharing options...
Woodstock Jag Posted January 2, 2011 Report Share Posted January 2, 2011 Do you mean PTFC AGMs or any AGMs? Quite common for companies to hold AGMs during work days. Who knows why it's at that time. Maybe it's just because it suits Billy Allan?? Anyway, can anyone remember any significant event or piece of information that's ever happened / been imparted at a Club AGM? I'm struggling to think of anything. Is it not usually leaked to half the Thistle community about 4 days before? Quote Link to comment Share on other sites More sharing options...
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