marklaspalmas Posted October 18, 2018 Share Posted October 18, 2018 I won't be there, but it'd be good if someone is prepared to post how the meeting goes. Surely a good starting place for tonight's meeting is simply who is the 1.2m owed to and when does each major debt need to be repaid? https://www.fevarchive.co.uk/ Link to comment Share on other sites More sharing options...
saddleworth Posted October 18, 2018 Share Posted October 18, 2018 1 hour ago, marklaspalmas said: I won't be there, but it'd be good if someone is prepared to post how the meeting goes. Surely a good starting place for tonight's meeting is simply who is the 1.2m owed to and when does each major debt need to be repaid? Surely, with what could affect the future of our club, do the shareholders have a legal representative at the AGM ?. Link to comment Share on other sites More sharing options...
Monkeymagic22 Posted October 18, 2018 Share Posted October 18, 2018 20 minutes ago, saddleworth said: Surely, with what could affect the future of our club, do the shareholders have a legal representative at the AGM ?. They don’t usually at any shareholders meetings, unless you employ your own. This is no different to be honest. Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 18, 2018 Share Posted October 18, 2018 Thinking about it, is it really an AGM as the B shareholders aren't invited? Link to comment Share on other sites More sharing options...
jamescolin Posted October 18, 2018 Share Posted October 18, 2018 The main thing is to remember we are a limited Company, lots of different rules. Play it by ear as the powers that be will have things in hand. Link to comment Share on other sites More sharing options...
MADREDNIGE Posted October 18, 2018 Share Posted October 18, 2018 2 hours ago, jamescolin said: The main thing is to remember we are a limited Company, lots of different rules. Play it by ear as the powers that be will have things in hand. It's to be hoped so Jc Link to comment Share on other sites More sharing options...
jamescolin Posted October 18, 2018 Share Posted October 18, 2018 Keep me posted. Colin Link to comment Share on other sites More sharing options...
coolie Posted October 18, 2018 Share Posted October 18, 2018 Where's the thread gone where it said featherstone was 1.2 million in the red It vanished quite sharp Link to comment Share on other sites More sharing options...
gazza77 Posted October 18, 2018 Share Posted October 18, 2018 3 minutes ago, coolie said: Where's the thread gone where it said featherstone was 1.2 million in the red It vanished quite sharp Details are on the Rovers website. It's hardly a secret. https://www.featherstonerovers.co.uk/news/club-statement-annual-general-meeting-information-wj22u Please view my photos. http://www.hughesphoto.co.uk/ Little Nook Farm - Caravan Club Certificated Location in the heart of the Pennines overlooking Hebden Bridge and the Calder Valley. http://www.facebook.com/LittleNookFarm Little Nook Cottage - 2-bed self-catering cottage in the heart of the Pennines overlooking Hebden Bridge and the Calder Valley. Book now via airbnb Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 18, 2018 Share Posted October 18, 2018 Option C passed Link to comment Share on other sites More sharing options...
Phil Loxton Posted October 18, 2018 Share Posted October 18, 2018 Its a 'debt' Coolie. Not 'arrears'. You have debt Coolie. Most of us have debt. So hold on to your Fev are doomed annual prediction Link to comment Share on other sites More sharing options...
Reddwarf Posted October 18, 2018 Share Posted October 18, 2018 Now it’s option c . What does that actually mean . Link to comment Share on other sites More sharing options...
the old nine ole Posted October 18, 2018 Share Posted October 18, 2018 10 minutes ago, Reddwarf said: Now it’s option c . What does that actually mean . Taken from the Fev web pages! Option C) The club sign over the land to a private equity firm / development company to take the risk while the Club retains a controlling stake. The same as option B, except the club hand over the reins to either a private equity firm, private individual(s), or a development company. The club will retain a majority shareholding and will end up in the same final position as option B. This option takes the away the risk. The club were informed by an ex-chairman that the club failed to remove the Greenbelt status back in 2007. The club have had tentative talks with the interested parties, however we cannot progress with anything without the shareholders vote. All routes will be explored, and whichever gives the club the most protection versus risk will be chosen. Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 18, 2018 Share Posted October 18, 2018 Fairly substantial for c approx 59% of votes Link to comment Share on other sites More sharing options...
jamescolin Posted October 18, 2018 Share Posted October 18, 2018 At last we can move forward. Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 18, 2018 Share Posted October 18, 2018 59 minutes ago, coolie said: Where's the thread gone where it said featherstone was 1.2 million in the red It vanished quite sharp People in glasshouses and all that.........Fev's latest accounts show a positive value of assets minus liabilities of some £640k whereas Dewsbury have a negative value of some £224k with £375.4k of debt. Link to comment Share on other sites More sharing options...
Maureen T-k Posted October 18, 2018 Share Posted October 18, 2018 To be perfectly honest the meeting wasn’t run at its best and became quite shambolic in parts, people were becoming frustrated and angry!!! Im Fev and im proud Link to comment Share on other sites More sharing options...
Dogstew Posted October 18, 2018 Share Posted October 18, 2018 10 minutes ago, Les Tonks Sidestep said: People in glasshouses and all that.........Fev's latest accounts show a positive value of assets minus liabilities of some £640k whereas Dewsbury have a negative value of some £224k with £424k of debt. £120k per annum is quite some debt burden. Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 18, 2018 Share Posted October 18, 2018 11 minutes ago, Dogstew said: £120k per annum is quite some debt burden. Depends whether you can afford it or not. At the moment the Club are (or appear to be) able to. Problems for all Championship and C1 clubs are likely to come in 3 years time if the Central funding disappears, or is just greatly reduced. Hence tonight's meeting and vote to try and at least mitigate the possible effects. Link to comment Share on other sites More sharing options...
Dogstew Posted October 18, 2018 Share Posted October 18, 2018 3 minutes ago, Les Tonks Sidestep said: Depends whether you can afford it or not. At the moment the Club are (or appear to be) able to. Problems for all Championship and C1 clubs are likely to come in 3 years time if the Central funding disappears, or even just greatly reduced. Hence tonight's meeting and vote to try and at least mitigate the possible effects. I take your point about the solution. Without that solution, the accounts show that the debt seems to keep growing (hence currently unaffordable). Link to comment Share on other sites More sharing options...
jamescolin Posted October 18, 2018 Share Posted October 18, 2018 Don't forget you pay less tax on profits as a limited company. Now it is 19% but is destined to go down to 17% in 2020. When affairs are sorted as they should be our debts will be easily managed. Our assets outstrip most clubs and we should with careful management progress very favourably. Link to comment Share on other sites More sharing options...
Fev1983 Posted October 19, 2018 Share Posted October 19, 2018 I just read that 60 people voted to run the club into the ground, thank goodness we have some forward thinking fans. Well done to the 89 fans that saved our club. UTR!!!!! Link to comment Share on other sites More sharing options...
Monkeymagic22 Posted October 19, 2018 Share Posted October 19, 2018 16 minutes ago, Fev1983 said: I just read that 60 people voted to run the club into the ground, thank goodness we have some forward thinking fans. Well done to the 89 fans that saved our club. UTR!!!!! It’s hard to believe that people think ‘doing nothing’ was the best option. Link to comment Share on other sites More sharing options...
Cardypaul Posted October 19, 2018 Share Posted October 19, 2018 So what is the timetable from here. Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 19, 2018 Share Posted October 19, 2018 9 hours ago, Dogstew said: I take your point about the solution. Without that solution, the accounts show that the debt seems to keep growing (hence currently unaffordable). Debt growing doesn't necessarily mean it's unaffordable by any stretch. Would moving into a new house with a bigger mortgage, or buying a new car on finance (both of which would increase your personal debt) make your debt unaffordable? Link to comment Share on other sites More sharing options...
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