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-   -   Letter and message from Ilyas (https://www.accringtonweb.com/forum/f93/letter-and-message-from-ilyas-46654.html)

K-P 02-04-2009 20:31
Letter and message from Ilyas
 
OK I know the link to his letter has been posted..But I have spoken to Ilyas tonight and he has asked me to post it on here for him and he adds the following

Quote:
However, if you go on the site, please do mention that you
have been in touch, and that I always was, and always will be both honest and true to my commitment to Stanley.
He also told me his reasons for not wanting to be involved with runnign the club (distance) and his intentions which are pretty much the same as in the letter... My own views made clear earlier today are that Ilyas would be good for the club.. He is honest open and transparent in what he does and for me the biggest plus is he isn't doing it for fame or anything for himself.. I know some of the things he has done for the club in the past and remained anonymous


PS
Also as willie miller will back me up on ... he likes to wind up the odd barrow fan from time to time :)



So as I have been asked to.. here it is in it's original form..



Quote:
OPEN LETTER TO DIRECTORS AND SHAREHOLDERS AND ALL STAKEHOLDERS OF ACCRINGTON
STANLEY
Dear Rob

Following recent events I understand that the club is in the process of
borrowing money to pay off current liabilities.

As I am sure you are aware, I think this is absolutely the worse step that
we could take. I am also shocked that in the current environment, that the board and shareholders would even contemplate taking such a step. Events in all spheres of life in the past year surely must have taught us that debt is not the answer. It is the problem.

I would like to request a meeting of the shareholders, as soon as possible,
where we can organise a new issuance of shares and raise money to put into the club and restore it to financial health. I am willing to subscribe for
new shares, and I am know many other people, including David O/Neil (I
imagine), would also be prepared to buy shares. A new share issue will
strengthen the clubıs balance sheet, and will ensure that Accrington Stanley remains free of debt. I will buy upto £200,000 worth of new shares myself.

This means we could probably raise much more as I know that David, a wealthybusinessman in his own right, also has the capacity to invest more. I would like to request that as Chief Executive you pass this message onto all shareholders. I am available at short notice and can get to the club at any time you request * including today evening * if other shareholders are around. Please would you kindly ensure Mr Whalley gets this letter, and all other directors and shareholders you might be aware of.

I am sending this letter to both the Lancashire Evening Telegraph and also
the Accrington Observer in order to ensure that the widest constituency of shareholders can hear about my request for a shareholderıs meeting.

I am sure that there will be other issues that can be discussed in that
forum, but my request is very simple. Please do not put our venerable and
much loved club into debt. Please accept an equity offering that will
restore the balance sheet and pay off debt. All of us who love and admire
the club will step up, I am sure.

I will close by asking you to let David know that if he wishes to buy Ericıs
shares then he has my support. I have no ambition to run or manage the club in any form. My desire, exhibited over 17 years now, is for the club to be healthy and for the people of Accrington to take pride in thıowd reds ! Lets not run the risk of being deducted points for things that are off the field. Lets not borrow money that we donıt have. These securitised debt instruments that pay today for future revenue are the kiss of death. Look at RBS, look at the other well known casualties of the financial crisis. Lets not allow Accrington Stanley to fall into that trap. We have alternatives. Lets use them.

Ilyas Khan

K-P 02-04-2009 20:43
Re: Letter and message from Ilyas
 
Was it passed on to you TM ? ...I think your the only shareholder on here :)

Tin Monkey 02-04-2009 20:45
Re: Letter and message from Ilyas
 
Not officially, but I've read about it on here. :)

VALAIRIAN 02-04-2009 20:59
Re: Letter and message from Ilyas
 
Quote:
Originally Posted by K-P (Post 699696)
OK I know the link to his letter has been posted..But I have spoken to Ilyas tonight and he has asked me to post it on here for him and he adds the following



He also told me his reasons for not wanting to be involved with runnign the club (distance) and his intentions which are pretty much the same as in the letter... My own views made clear earlier today are that Ilyas would be good for the club.. He is honest open and transparent in what he does and for me the biggest plus is he isn't doing it for fame or anything for himself.. I know some of the things he has done for the club in the past and remained anonymous


PS
Also as willie miller will back me up on ... he likes to wind up the odd barrow fan from time to time :)



So as I have been asked to.. here it is in it's original form..
Thanks for the post K-P, great to see you putting your energies into getting the message about the club into everybodies face..

maccawozzagod 02-04-2009 21:03
Re: Letter and message from Ilyas
 
sounds fair enough to me.

MCR ADIM 02-04-2009 21:35
Re: Letter and message from Ilyas
 
Sounds like he is a very honest man and has the club at heart like Eric! I think all of us would agree we do not want to the club to go into any sort of debt!

Willie Miller 02-04-2009 21:47
Re: Letter and message from Ilyas
 
In Eric we trust..... all others pay cash!

Top Bloke is Eastern Red

cashman 02-04-2009 23:28
Re: Letter and message from Ilyas
 
good on yer K-P.:)

Kiwi John 03-04-2009 00:53
Re: Letter and message from Ilyas
 
If they did do a share offer, I'ld put my hand up -though not in the same league as Ilyas
of course...

Bagpuss 03-04-2009 03:46
Re: Letter and message from Ilyas
 
Quote:
Originally Posted by K-P (Post 699702)
I think your the only shareholder on here :)
Jeff has shares I'm sure.

Jimbo T Hornblower 03-04-2009 05:51
Re: Letter and message from Ilyas
 
Quote:
Originally Posted by K-P (Post 699696)
PS
Also as willie miller will back me up on ... he likes to wind up the odd barrow fan from time to time :)
Nowt wrong wi that either. :thumbsup:

I hope the club listens to Ilyas' request - after all, what harm can holding a meeting do? Gets everything out in the open for all involved if nothing else. Lets have our own Stanley 'G20' :) Wish I was in a financial position to be prepared to help on the scale of this dedicated and loyal Stanley fan's proposals. If this opportunity is needed, I am not saying it is and I am not saying it isnt but IF it is (Ilyas is obviously seriously concerned that it is), I just hope the club dont let it slip past them by ignoring this simple and honest request... Last thing anyone wants is a points deduction and conference football next season.

Jimbo T :horn8:blower

mab 03-04-2009 07:12
Re: Letter and message from Ilyas
 
:) new issuance of shares!!! would these new shares if made available would it just be for existing share holders or open to any fan that may wish to buy some????????? if so not knowing the value of the shares of the club how much would they cost?? anyone any idear......:)

Fourth official 03-04-2009 07:34
Re: Letter and message from Ilyas
 
As a very minor shareholder ,I have had no communication from the club,and can't remember the last time I was invited to attend a shareholders meeting to go over the balance sheet!!

Wynonie Harris 03-04-2009 07:55
Re: Letter and message from Ilyas
 
As far as I'm concerned, the club should snatch his hand off and if they don't, they must be absolutely barking. Having talked to the guy, I know, he's genuine 100% Stanley and that's a fact. As for the share issue, I'd certainly buy a few (although possibly a few less than Ilyas!). :D

Nickelson 03-04-2009 09:00
Re: Letter and message from Ilyas
 
Surely Stanley is a private company, so the shares wont be listed. As such enabling the select few to purchase them.

Tommy McQueen 03-04-2009 11:13
Re: Letter and message from Ilyas
 
I also am a shareholder and I have recieved no communication from the club or elsware. We have never had a shareholders meeting for some years now probably five, we are getting the mushroom syndrome. I would welcome a meeting, and would under certain circumstances probably invest a little bit more in the club.

K-P 03-04-2009 11:19
Re: Letter and message from Ilyas
 
Its gotta be more than 5 yrs.. I heard pre eric the last one ...

Tommy McQueen 03-04-2009 12:12
Re: Letter and message from Ilyas
 
No K.P it's definitely during Erics reign, spoke to a fellow shareholder and he thinks four years. However it's far too long. I was only saying to the wife if (when) David takes over I will be writing to him, asking for a shareholders meeting.
I doubt very much if we will ever hear from the Club, regarding the letter from Ilyas.

Tin Monkey 03-04-2009 12:16
Re: Letter and message from Ilyas
 
You've done really well then Tommy, as I haven't been invited to a meeting since Terry Styring was kicked off the Board. That was well before Eric took over.

K-P 03-04-2009 12:22
Re: Letter and message from Ilyas
 
I havent got any.. All before my time I think.. But how many where available at what cost and how many did the fans buy in total.. Anyone know?

JEFF 03-04-2009 12:24
Re: Letter and message from Ilyas
 
At the moment the Club is 'In the full control of Mr. E. Whalley' according to the accounts lodged at Companies House, so if Mr. E. Whalley votes not to have a shareholders meeting there is no shareholders meeting as he cannot be outvoted . If there was a meeting there is nothing the shareholders can do because whatever Eric votes on is carried as he has 56%. I don't think it is longer than four or five years since the last meeting.

K-P 03-04-2009 12:38
Re: Letter and message from Ilyas
 
So apart from helping to support the club in there hour of need... was there any benefit to buying shares?

Tommy McQueen 03-04-2009 12:51
Re: Letter and message from Ilyas
 
The shares were opened up to the supporters at a meeting with the former chaiman John Alty. I don't think a lot of people took advantage of the offer.I know two of us purchased some shares.
Eric sent out a letter asking for people to donate their shares back to the Club, as quite a few owned one pound shares at that time. I think the reson was so that the Directors could purchase shares. Needless to say I and my mate did'nt.
Yes K.P. there does'nt seem to be any advantage in owning shares, other than when we did have shareholders meeting we did at least get to know the financial situation for the previous year, we were given audited accounts to study.

Tin Monkey 03-04-2009 18:02
Re: Letter and message from Ilyas
 
You're quite right, there is no advantage at all to owning shares in Stanley. I never bought mine as an investment, just merely to help the club out when they were strapped for cash.

I think the main reason why I have never heard anything about meetings, etc, is because the club no longer has my address as a shareholder. I've moved a few times since I bought the shares.

lindsay ormerod 03-04-2009 18:15
Re: Letter and message from Ilyas
 
I hope the Club has a sudden attack of common sense and listens to Ilyas Khan and his suggestions; I know him to be a man of sound character and integrity , a man deeply involved in sport in Accrington, not just Stanley or football either! This is a generous man who doesn't court publicity but has our interests at heart.
Stanley, ignore this at your peril!

Doug 03-04-2009 18:18
Re: Letter and message from Ilyas
 
I'd like to meet Mr. Khan, if only to shake his hand........what is now, 47 years ago. If there is a issue, I'm in for what I can scrap together but for god shake don't tell Joyce.


Cheers K-P.......

Wynonie Harris 03-04-2009 20:04
Re: Letter and message from Ilyas
 
Quote:
Originally Posted by lindsay ormerod (Post 700001)
I hope the Club has a sudden attack of common sense and listens to Ilyas Khan and his suggestions; I know him to be a man of sound character and integrity , a man deeply involved in sport in Accrington, not just Stanley or football either! This is a generous man who doesn't court publicity but has our interests at heart.
Stanley, ignore this at your peril!
Nail...head...hit. :)


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