As you all know PFC is considering a takeover bid from American, Mr. Eisner. Any significant business takeover is complicated and in this case that is even more complex because we are fan owned club; it is not simply a matter for the Board in terms of the final decision.
In the darkest days several years ago when we (PFC) were on the brink of going out of business your Supporters Club purchased five shares (£1,000 x 5) to try to help to ensure the future of the Club. These five shares are in the name of individual Committee Members and one former Committee Member but essentially they belong to IWPSC as a body and that means as a shareholder(s) we (IWPSC) are a key player as we have a vote, a block vote based on the number of shares.
The voting packs are about to be
released to all shareholders and Trust members. As it stands we only
have very limited information.
What you should know that several of
us, as shareholders, both on behalf of IWPSC and as individuals,
will be in attendance at a scheduled meeting at the Guildhall on 4th
May when Mr. Eisner and his team will make their presentation.
But, as we have said, this is YOUR DECISION and, as a consequence, we are GIVING FORMAL NOTICE THAT WE ARE CALLING AN EXTRAORDINARY GENERAL MEETING (EGM) ON THURSDAY 11th MAY.
Our Constitution requires us to give a minimum of two weeks’ notice and this communiqué will be delivered in electronic form or, where the individual does not have appropriate access, in paper form.
This Meeting will be at Yelfs Hotel (Ryde) at 8.00pm.
Can I impress on you that there is no reason why this shouldn’t be an open meeting but only Members will have a vote. It will be a straightforward ‘first past the post’ vote done on a show of hands or, if close, actual numbers. As you can see from the attached timetable the actual ballot will run from 6th May to 19th May. I suspect we will know the result shortly afterwards.
CHRIS HOUGHAM (CHAIRMAN OF ISLE OF WIGHT POMPEY SUPPORTERS CLUB)
Points of View from
The Chair & The Old Sage
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