Re: Statement on Shareholding
 

[i]Posted via Mobile Device[/iASSF's first task maybe ???

Re: Statement on Shareholding
 

Let's Save the Club first!!!!.........;)

Re: Statement on Shareholding
 

How exactly have you checked the private donations?? Do you work for the club, therefore have access to the names?? :rolleyes: :)

Re: Statement on Shareholding
 

Thank you Ilyas.

You have a PM.

Re: Statement on Shareholding
 

Jeff - "Seems as though Shareholders can look at the minutes of any Board meetings. Might be interesting if a Shareholder asks to look at the minutes and so find out when Directors' loans were made

Quote:
How to conduct a board meeting
You must give reasonable notice - normally 14 days - to the other directors.
You must take formal minutes of the meeting.
Once approved, the minutes should be signed by the chairman of the meeting.
You must keep the minutes as the official record. Shareholders can ask to see them.

As for the Annual General Meeting

Quote:
Rules surrounding the annual general meeting (AGM)
Private companies are not required to hold an AGM. Public limited companies (PLCs) must hold an AGM once in each six-month period.

Unquote.

True, Jeff. Private companies are not legally required to hold an AGM - but only after an Elective Resolution previously has been passed and minuted.(1985 Companies Act, section 366a). It would be interesting to see where that resolution is to be found in the minutes of ASFC.

It also appears that some people may be reading this 150K loan business the wrong way round. My understanding is that the loan appears on the liability side of the balance sheet; That means that EW lent the club that amount over the financial year 2007-8. If it was the other way round - ASFC lent EW the amount, then of course, it would be on the asset side as being due to the club. It would of course, be nice of EW, in the goodness of his heart, to write this off.

This business as got my head spinning, so much so I've just downloaded the 2006 Companies Act. It ties in with EU legislation, and there appears to be some interesting stuff on shareholders rights.

Re: Statement on Shareholding
 

The last shareholders meeting I attended was approx 2003. we did receive a balance sheet. Since that time I have never been invited to a meeting ,that is if they have ever taken place. I did approach D.ON regarding this, just before he took over the Club, he said if it happened (the take over ) he would be calling one. I don't think it will now happen for some considerable time, if ever. Maybe the smaller shareholders should call a meeting if this is possible,I wouldn't know if we were allowed to do this. Jeff knows who the shareholders are, I would presume that a lot of them post on here.

Re: Statement on Shareholding
 

Certain of us knew that all along, it's just that it doesn't seem to be getting through to the ones supposedly in charge!:rolleyes:

Re: Statement on Shareholding
 

Why would you hold an AGM every six month's? By its name you have them annually.

Are the rules you posted ASFC's or some you found on the net?

Re: Statement on Shareholding
 

As a member of the suporters club I would like to thank Ilyas for all his hard work, time and money he has put into Accrington Stanley in the past, but wonder if the club would have been better keeping him on side as he has the knowhow to get the club out of this mess. Once again thanks Ilyas.

Re: Statement on Shareholding
 

:) Totaly agree with you and like i've said in another post why not keep back 2.5% of the shares for him self which oul have kept him as a share holder.just my thoughts:)

Re: Statement on Shareholding
 

Possibly a little misunderstanding here.

A Public Limited Company (plc) has to hold its AGM within six months of its financial year end under the Companies Act.
But this is irrelevant as ASFC is a private limited company (ltd) isn't it?

AGMs are, obviously, annual events but a ltd company can dispense with them altogether under Section 252 of the Companies Act 1985.

Directors of a ltd company can call an Extraordinary General Meeting if they have sufficent voting power in accordance with the company's Articles of Association.

I'm a bit rusty on my Company Law, but I hope that this helps rather than confuses.

Re: Statement on Shareholding
 

Errr....AGM's are usually held every 6 months for PLC's, who would normally pay an interim dividend (on 6 months) and would thus need shareholder approval ,followed by the final dividend at the end of the financial year.

ASFC is not a PLC; It should still however, conduct it's buisness in line with statutory requirements as laid down by Company legislation for entities of this sort. Either there has been some pretty nifty work done behind the scenes in order to diminish the need for corporate transparency, or it has ignored those completely. The problem is, the stakeholders - the shareholders, the fans, the people of Accy and others - simply don't know.

Re: Statement on Shareholding
 

It’s worthy of note that the ASSF will have to perform the same duties; the difficulty is perhaps how shares are perceived; 100 ordinary shares would have been issued on registering the company; but we the fans are all share holders or should be under the statement of purpose (not under company law).

Re: Statement on Shareholding
 

Not wanting to join in the worlds most boring subject, but you can issue as little as 2 shares i think for a limited company

Re: Statement on Shareholding
 

I don't really care now Willie; :) I'm sure one day we'll get chance to buy our own if we want; or can afford too, I own a 100 shares in my own company and there worth FA. It’s all pretty meaningless unless you have the cash to go with it. :rolleyes:

Rob said on the wireless that it’ll be all ok, you said it, Shrum said it and little Katy said it….I’m starting to believe it so I’m good. :)