What to expect at the E.G.M....

For those attending the EGM.

EGM's are usually used where the group would ordinarily hold an AGM, but where an issue arises which requires the input of the entire membership and is too serious or urgent to wait until the next AGM.

Members and/or shareholders must be informed of the purpose of the EGM so that they may attend in a position where they can discuss and exercise intelligent judgment, otherwise any resolutions passed are invalid.

AGM/EGM's are the most important formal means of communication, the board should actively encourage shareholders to attend.

An AGM/EGM should be used to enhance communication with shareholders, by giving shareholders an opportunity to ask questions and use their votes.

However, whilst shareholders are effectively the owners of the company to whom the board of directors are accountable, the actual powers of shareholders tend to be restricted. They normally have no right to inspect the books of accounts, any future prospects can only be taken from the annual report and accounts (which are usually 9 months out of date once published), stockbrokers or daily financial newspapers.

I hope you get all the answers you want, but, please go with an open view that Ridsdale may once again be able to cloud over the questions we would all like answered.

I got a feeling people will be coming out with more questions than answers

I got a feeling people will be coming out with more questions than answers

Absolutely, sadly the only people who truly know what is going on are the management and the producers of the infamous management accounts, sadly these are not available for shareholders perusal.

Financial information is provided in the form of annual accounts and it is at the shareholders perogative of whether they keep their investment in a company or sell.

Being a shareholder is all about high risk, high return and little company clout (unfortunately), unless you are also a director/management.

It will be very difficult for Ridsdale to ignore a motion of no confidence in him from shareholders of the club at an EGM. There is a risk that if he tries to ignore this or close the meeting early that there will be absolute uproar from the floor. Should this happen it will be all over the press and reflect very badly on him both professionally and as an indivudal.

I hope that the motion can be put as the first question from the floor. I will happily second it as I've no doubt many others will. That is all that is required, any shareholder can put forward the motion, as long as another seconds it it will have to be voted on. Make no mistake it is going to be a VERY uncomfortable couple of hours for Mr Ridsdale.

What time does it start?

I got a feeling people will be coming out with more questions than answers

Absolutely, sadly the only people who truly know what is going on are the management and the producers of the infamous management accounts, sadly these are not available for shareholders perusal.

Financial information is provided in the form of annual accounts and it is at the shareholders perogative of whether they keep their investment in a company or sell.

Being a shareholder is all about high risk, high return and little company clout (unfortunately), unless you are also a director/management.

Judging by the state we are in I doubt very much whether the club produces regular management accounts. Of if they did they have been produced by Nick Leeson.

Vote of no confidence can be raised under any other business but may not be voted on. UNLESS the rest of the board show support for the motion, this will be where Steve Borley, Paul Guy et all come in. Time to stand up and be counted.

Vote of no confidence can be raised under any other business but may not be voted on. UNLESS the rest of the board show support for the motion, this will be where Steve Borley, Paul Guy et all come in. Time to stand up and be counted.

This is why the shareholders need to focus on the other board members as well as Ridsdale.
If all the questions are directed at PR the rest will sit back in comfort and let him deflect the blame. They won't want to back any vote of no confidence in such a comfy position.
They've tried to divide and turn the fan base, that is what we need to do with the board. Make the board feel as uncomfortable as possible, make them feel culpable, and soon instead of being the shield, PR will become the scapegoat.
They won't be standing up to be counted, but pointing the finger at someone else instead.
Rats, the lot of em.