Trust Gets Half a Million reasons To Go Ahead
With the meeting for fans to decide whether to set up a Supporters' Trust taking place tomorrow (Tuesday 15th) one fan has already stepped forward and offered over half a million shares in Charlton Athletic PLC to the Trust, should it be established.
The fan has offered voting control over his shares (a proxy vote) to the Trust if and when it is set up.
As the shareholder said
"Assuming a decision is made to establish the Supporters' Trust (ST), we will grant it voting control in respect of the 524,894 shares that we own.
As I mentioned before, if it were necessary or beneficial to the ST, we would be prepared to go further and actually donate the shares to the ST providing that, in the event of a financial return upon the shares, the net proceeds of that return were donated to a charity (say Demelza House), assuming that the legal advisers to the ST don't see any difficulty with that.
To avoid doubt I would not wish to have any role in or exercise any influence over the ST but I certainly wish to see it succeed.
My reason for doing this is not per se to encourage opposition to or criticism of the current or any future Board. The ST needs to be inclusive and democratic and objectively to voice concerns, criticism and support to the Club as it considers them merited.
My motive is simple. While, in my view, my shares now have limited economic value they can regain meaningful value if they can be combined with significant voting proxies and/or share donations from other shareholders (large and small) with the aim of empowering supporters collectively with a permanent and independent voice with the owners of the Club, whoever they may be.
If that were achieved, in current circumstances I am sure that all who contribute their voting proxies or make share donations to the ST would, like me, consider it a very satisfactory "return" on our shares."
The Supporters' Trust is meeting at the Conservative Club at 51 Charlton Church Lane on Tuesday 15 September at 7.30pm
Well known Kent football Journalist Tony Hudd and former AFC Wimbledon Chairman Kris Stewart as well as a representative from Supporters' Direct (the funded body that overseas 140 such Trusts across the UK) will be answering questions.
All Charlton fans are encouraged to attend and make their views heard on if a Trust should be set up and what the aims of that Trust should be.
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Comments
Thanks.
Cue are you going to make it a Sticky.
Still fairly low but as a starting point it is great. There are plenty of other small and some large shareholders out there who might well share the same views.
And the Trust can have my 200 shares as well BTW
If you proxy the vote you still own the shares and can withdraw the proxy as and when.
Thanks, every little bit helps.
I still have my certificate years ago when us fans paid a pound to buy Ronnie Moore!
Cheers
Could be an idea to for the Trust to set a Target 1,000,000 but that's that the future.
I can do you 500k if you like. £1 a pop : - )
Seriously you can find some on the internet or if you have a broker s/he will be able to get you some.
Still got my Ronnie certs somewhere as well.
i lost my ronnie certificate ;-(
Cheers
There are estimated to be over 20% of the total shares not owned by the current board so there are a lot out there to be had.
what a well written article.
Thanks Paul.
My opinion of the OS has gone right down hill ; - )
http://www.cafc.co.uk/newsview.ink?nid=34776&newstype=f
FACT.
Well played sir...or madam.
I quoted what he said to me
My motive is simple. While, in my view, my shares now have limited economic value they can regain meaningful value if they can be combined with significant voting proxies and/or share donations from other shareholders (large and small) with the aim of empowering supporters collectively with a permanent and independent voice with the owners of the Club, whoever they may be.
Because that pretty much summed up what I think the Trust should be about although others will agree or disagree.
It's not Peter.
I guessed but someone would take it as gospel and then I'd get another missive from Peter asking me to put you all right : - )