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SELECT SHAREHOLDERS MEETING (Monday 11th September 2006) 
The PLC have arranged another 'informal' shareholders meeting open only to those who have invested £500 or more in the company. Invitations to the meeting, which will be held on Tuesday 3rd October 2006, were sent out over the weekend of 9th September 2006, and gives the hope to those who attend that the PLC we be, "Able to update you on the progress the Club is making both on and off the field, with some details and insights into the investment and priorities being considered at this time."The meeting, which will attended by major investors Ivor Beeks, Brian Kane and Steve Hayes, comes some six months after changes to the articles of the PLC were bullied through in attempt to allow promised investors to put money into the Club. Those investors have yet to materialise and subsequent investigation into the changes has revealed that any new investor must commit a minimum of approximately £35,000 before being allowed to take shares. The Wycombe Wanderers Supporters Trust have been looking into ways of allowing smaller amounts to be invested and a canvass of their members during the summer highlighted a potential further investment of £14,000, equating to the possibility of the Club's debt being reduced by appoximately £56,000. However, the changes made to the articles are also temporary, with the window of investment opportunity only open until the next scheduled PLC AGM due in November 2006. The previous 'informal' meeting of shareholders took place in April 2005 and drew criticism from some quarters as it ruled out attendance from 'Founder Shareholders' who had not taken up the option of purchasing the minimum of £500 worth of shares in the PLC. The latest invitation attempts to justify this by stating, "One of the key objectives of the Club is to improve the communication it has with all the various interest groups be they Fans, Sponsors, Customers or Investors. Those who have made a financial commitment to the Club, we believe, are deserving of special consideration as regards broader knowledge of the financial health of WWFC plc." The invitation concludes by stating, "Our goal is to take the club to a higher division while operating in a financially successful, profitable and stable manner." But with the last official count reporting that Wanderers' financial health was a debt of close to £3m and annual losses of close to £1m, the letter of invitation also admits, "We may have some way to go" Information links via Wycombe Wanderers Supporters' Trust website  Full text of invitation to meeting on 3rd October 2006 Report from meeting held on 28th April 2005 Supporters' Trust on buying further sharesClick here for all the latest from chairboys.co.uk |
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