FOUNDERS TRUST STATEMENT
Wycombe Wanderers Founders Trust (Saturday 31st July 2004)
Following the EGM on 29th July the membership of Wycombe Wanderers FC have voted to effectively change the constitution of the Club from that of a Company Limited by Guarantee to a Public Company Limited by Shares (PLC) by approving the scheme recommended by the directors.

Part of the proposal was the creation of a Wycombe Wanderers Founders Trust. This would be a Limited Company in its own right and have its own Directors. This Trust would be made up initially of the existing members of the Football Club from which an elected representative would be entitled to a place on the Board of the new Football Club PLC.

In order to get the new company up and running David McGee and Nigel Rowland have been invited by The Football Club Board to become interim Directors of the Wycombe Wanderers Founders Trust (Limited by Guarantee).

The interim Directors have issued a statement to help explain the structure of the Trust and the key points are included below.
  • WWFT will, in time, inherit Founder Shares as and when the existing Founder Share Holders (formerly the Members of the club) cease to be eligible (i.e. they do not renew their season ticket, are made bankrupt or pass away).

  • All existing Members of the club will be invited to become members of WWFT. The entrance and membership criteria are as it was.

  • The membership is not now restricted to 500 - as long as you are eligible and you meet the entrance criteria, you can and will be welcomed as a member of WWFT. However, there will always be 500 Founder Shares irrespective of the total membership of WWFT.

  • WWFT will always exist so long as it has members, it is therefore incumbent upon the membership to ensure the long-term future of the trust. The membership is fluid - new members can, on compliance with the entry criteria, be enrolled and existing members can leave or become ineligible. The 500 founder shares will eventually be held by WWFT and voted at the direction of the membership.

  • David McGee and Nigel Rowland have, as interim directors of Wycombe Wanderers Founders Trust, been given the task of managing the process of transition to the new structure. They will be meeting by the end of week ending 6th August to discuss how they can take forward the process.

  • The transition process will involve the convening of a general meeting to vote in the Trust's first Board. The interim Directors will work with the Company Secretary to ensure that this is organised as soon as possible and at a time when as many members as possible will be able to attend.
Nigel Rowland added "We are both keen that the board should be representative of the entire membership and would ask no matter what your position on the initial vote that you consider putting yourselves forward for election to the Trust's Board. It is our considered opinion that it is vitally important that the Trust draws on the wide skill base within the membership in order that we can be truly effective. So, if you're a Solicitor, an Accountant, in Marketing, a Web Designer or someone who has the best interests of the club at heart please get behind the Trust and make it work. The EGM on 29th July was the biggest decision we as members have ever made - it is now up to us to effectively control the areas of responsibility we have been given."

It should be made clear that neither David McGee or Nigel Rowland are Directors of the initial new Football Club PLC Board. However, the WWFT Board representative will be elected by the Founders Trust at the earliest opportunity. Any member of the Trust can put themselves forward for this important position and make their case for election to the members of the Trust. As a precursor to this the interim Directors are asking any members who wish to be considered for the Board of WWFT and in turn the PLC, to contact them.

Nigel Rowland concluded "For WWTF to become an effective and respected body it is essential it is professional and represents a united front. All successful organisations require passion, commitment and a diverse set of individuals with different opinions. Success is gained from harnessing these attributes to gain the best result for that body. We will, with your assistance and co-operation achieve this aim. David and I will make every effort to get back to the membership at the earliest opportunity. In the meantime we have set up the following e-mail address - WWFT2004@hotmail.com - should any member wish to contact us on any issue regarding the Wycombe Wanderers Founders Trust."


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