Only 16 shareholders turned up so was relatively straight forward affair. Summary, and a few of my own thoughts, below. Apologies for inaccuracies/misunderstandings - I’m suffering with a cold and was preoccupied by trying to contain my coughing fits at the back of the room through most of it.
Appointments
Derek Wilshaw re-elected as a director, by a majority vote from those present, for another three years.
Bill Waterson was voted onto the board unanimously, for three years. This was the first AGM since Bill joined the board, and so had to be approved officially.
Accounts
Club made a £25k loss last season. Normally I would much prefer we got relegated making a loss than went down while turning in a profit, so I don’t want to sound too critical. But (and it’s a big but...) in the case of last season, I dread to think what/who it was spent on? We were relegated by Xmas!
To make a £25k loss over the season, while averaging in excess of 1,100 home crowds and winning a few cup games, to assemble the worst squad we have ever put together scares the living daylights out of me for a number of reasons.
But, as I said, I get annoyed enough when we’ve been relegated while celebrating a £6k profit, so I can’t moan too much if we really did throw the kitchen sink at it financially and still went down.
Football Club sale
Grahame Rowley revealed that he has had meetings with three interested parties since the EGM, two of which have not been heard from since.
I personally think that’s a relatively decent level of interest given that the publicity around the available shares has been zero since June, and we have The Sport Business (anyone remember them...?) filtering the interested parties in the first instance.
One of these parties, the same one the board announced they had signed the NDA with, has submitted a bid for the football club.
However, this was not accompanied with the level of detail required by the board, and the club are now waiting for this to be returned. Understandably they weren’t able to go into further detail.