Adeybull wrote:
Why should you be surprised?
Yes, the whole question of the shareholdings was discussed, and at length. The board is fully aware of the massive hindrance the current structure poses. They pointed out that about half a dozen people bother to attend the AGMs, and the average age is apparently 83 - and I believe that was not a joke. So we have a very active shareholder base, as you can see?
Some of what was discussed cannot go on here. If it could, I suspect a few of the negative views towards the BOD would need revisiting, but I appreciate I can hardly urge that without putting up the detail.
Hood cannot speak for anything beyond the Board's 25%.
If the shareholders ever felt they could have done a better job they could have convened an EGM and sacked the BOD. That they have never done so rather suggests to me that they either cannot see a better alternative, or one at least is sat waiting ready for if/when the BOD fails.
An insolvent business has no value for the shareholders.
I'm surprised because in my experience there are no such things as backers and investors unless they are buyers and owners. My supposition has been that the reason there is no queue at Peter's door is the same reason he recieved no response from the 1000 letters he sent out last year.
I'm certain they're exasperated by the shareholding. The management of the club is essentially impossible in the situation they're in. I can see no way they can sort it out.