Many on this board have raised the subject regarding wanting more information on a range of subjects from ownership of the ground, overall viability of the business,to any outstanding debts that may need to be paid in the near future etc etc. Has there been any vehicle set in motion to gather said information from the BoD or perhaps the club's accountant in order that anwers to individual's queries can be satisfied? I note that 'several' interested individuals may be willing to 'donate' funds to the club if further satisfactory answers are given.
Basically, is anyone going to ask the club the questions and the answers shared on a group basis (perhaps in a meeting) or do the questions have to be asked of the club on an individual basis?

1 piece of info, if we go down and are in Newmarket, we have a sustainable business plan so that we can continue under these circumstances.
I hope it's not by the same people that wrote our sustainable business plan for being in SL!!!!!!

Was that from somebody at the club or was it hearsay and does that rely on the 500k.

I suggest you attend the meeting of supporters in the Cats Bar 7.30, 18/01/11

There may be some answers to the questions that have been raised

A meeting has already been held with the club & efforts are being made to arrange a second. Details of what has been discussed will be made available at next week's meeting.

who did the meeting involve ?

Secret

As alluded to on another thread I have very little faith in us getting proper answers from the BOD. The answers to the questions should be provided by the clubs accountants and lawyers or they should allow access to the full information to a small group of fans with the requisite professional skills (eg accountancy and legal), assuming there are fans with such skills, who can then report back to the rest of us as to what the true position is.

That could be one thing that gets looked into at the meeting, and i'm sure they will be welcomed to represent us.

The other side of this coin is we don't need to wash our mucky clothes on here, too many trolls lurking and feeding off it, some may see that as hiding but imo its for the best untill we get some answers.

Unfortauntely, the club's accountants & solicitors are bound by client confidentiality. Even in the event of a full sale of the business as a going concern, the buyer would have to instruct their own accountants & solicitors to review the paperwork as part of a due diligence process.

Even if the client confidentiality wasn't an issue, the accountants & solicitors are not involved on a day-to-day basis and are not actually in the best position to give the answers that are needed.

The full detail can only be established by speaking to management - ultimately, it's in their best interest to be as open as possible with those people who are thinking about contributing to the fundraising effort.

As BIGAL says, the answers have been obtained to help those attending the supporters' trust meeting decide on the best course of action & that is why the first place this should be discussed is at next week's meeting.

Not really the case.

As this is effectively a rights issue there should be a prospectus clearly setting out the club's current situation, it's financial viability and it's business plan. It would clearly state the proposed category of shareholding, voting rights and dividend rights and most importantly, the potential buyer would be able to assess the likelihood of being called upon to add further funds at future dates.

It is a straightforward business requirement and a prospectus should be available by now so we can all make a considered judgement on the situation.

Agree with last post.

At the last 'share issue' though conclusions on here were it's not an investment, more of a donation.

I think that your outline of proceedings is the usual for a plc.

If the plan, however vague, is for the board's shares to somehow be set aside and a new board elected from the new shareholders then this must be a share issue, not donations. As such, the company needs to prepare a prospectus outlining the full terms, conditions and obligations on future shareholders.