Michael Ashton

Coach
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  1. Michael Ashton

    Sunday v Swinton offer

    Plenty of noise from Swinton supporters in the first half. They out shouted us.
  2. Michael Ashton

    Swinton tomorrow

    A bit tough on Swinton because they played like a house on fire for much of the 1st half. By the time the 2nd half progressed Battow were well on top. Good entertainment mainly and the crowd was over 1,300. The only downside for me was that the coach sat in the stand behind me for much of the first half and carried on personal comments in a loud voice on a waliketalkie and this was full of bad language. After a short time he was told by people in the stand to moderate his language which he did but towards the end of the first half he made his way to the the touchline and that was a relief for everybody. That's the end of my gripe but we'll be pleased to see Swinton and their supporters next season.
  3. Michael Ashton

    AGM

    Don't carry on this forever but the debenture holders would only loose the amounts paid in the first place. The directors are however personally liable fraud fraudulent dealings. Let's change the subject and talk about our 2 new centers.
  4. Michael Ashton

    AGM

    Well put Keith. I tried to put it this way but perhaps it wasn't clear enough. Your message should answer everybody.
  5. Michael Ashton

    AGM

    The Articles tended to be periodically amended from 1930 onwards. A complete new set of Articles was filed with Companies House on 10th October 2014 following an EGM. Among a number of changes the debentures were increased to £1 each. The relevant amount is paid by each holder before the debentures are issued
  6. Michael Ashton

    AGM

    I'm no lawyer or financial advisor but know little bits. If you hold shares in Bae Systems for example they may be ordinary or preferential or many other types maybe. If they are pref they might pay a guaranteed rate of divided every year. On the other they may be ordinary and the price will be quoted constantly on the stock exchange. The price will generally go up or down depending on the trading success of Bae. Debentures are a bit different. The company has a debenture book and from time to time makes a sale of debentures to anybody interested in providing capital to Barrow RFL. This capital is kept and recorded and is not repayable. If at some stage the Club goes bust or sells it assets and the directors want to wind it up the company goes into liquidation and all the assets are sold and liabilities paid off. If there is a surplus the debenture holders are paid £1 for each debenture held. Any balance held this is distributable to local sports clubs etc. The problem is that the debentures go back to 1930 and in that time a great many holders have either died or changed address. In the event of a winding up this would be a real problem. I was on the board in about 2001 and I intended to take on the job of sorting out years of debenture holdings but found it almost an impossible job. I hope this makes sense.
  7. Michael Ashton

    AGM

    That seems easy to me TMF. The Club is owned by the debenture holders. The problem is that most of us own only a few debentures but some holders can hold as many as 25,000.
  8. Michael Ashton

    AGM

    Don't know what happened to the stream above but I felt I ought to make one more comment before we set about beating Dewsbury. Maximum number of debentures to be held by an individual is 25,000. Quite correct on a show of hands each holder has one vote but on a poll (a secret ballot) each holder has the number of votes according to his holding. One further point if the company is wound up (heaven forbid) and a surplus arises after all assets are sold and liabilities paid the surplus is used in repaying the debenture holders. I think they are only entitled to get back the face value of the debentures but not sure on this point.
  9. Michael Ashton

    AGM

  10. Michael Ashton

    The next time we aren't going to bother.......

    A number of people round me complained about Childs letting forward passes go and many off sides but I agree with the above messages. Very disapointing. The only thing is somebody said to me before the match that a number of players cried off for different reasons. I#ve no idea whether this happened but if it did it would upset Cresta's plans. We always struggle against Batley particularly away but they looked bigger, faster and much tighter in defence than we did.
  11. Michael Ashton

    AGM

    Karen keeps the debentures books and records. The holders co back very many years and according to the latest balance sheet 229,713 debentures have been issued.
  12. Michael Ashton

    AGM

    This has been discussed at length before and its totally impossible to mail every debenture holder.
  13. Michael Ashton

    Barrow v Batley

    To be absolutely mathematically certain I think it would be safer to have just one more victory but it does look like Swinton or Rochdale for Ch1.
  14. Michael Ashton

    "Keeping the Dream Alive" book

    That's great news Jane.
  15. Michael Ashton

    AGM

    It was in the MAIL when the original notice was issued but I've still come across quite a few people who are unaware that it's taking place. Mind you a poster could be flown over the Furness area and there would still be people who didn't know. LOL