| TRUST 'BLACKMAILED' TO APPROVE
(Friday 26th June 2009) 
Wycombe Wanderers Trust Board have voted narrowly in favour of recommending Steve Hayes' proposals to radically change the structure of the Club but agreed with the view that they had been 'cajoled and blackmailed' in coming to a verdict in just a few weeks.
The thumbs up to the agreement should invoke extra clauses into the deal, including an agreement whereby 'Mr Hayes would provide
£1,500,000 in cash to the Founder Shareholders’ Trust in the event that the Company is dissolved by
way of liquidation'.Trust members and Founder Shareholders heard the news at an information meeting held at Adams Park on Thursday 25th June 2009. The key facts to the proposals were outlined and arguments 'for' and 'against' the proposals were presented to another well attended meeting in the Vere Suite. Trust Chairman David Roberton concluded the presentation by confirming that the Trust would be recommending acceptance of the proposals provided the necessary legal documents are exchanged between the Trust and Steve Hayes that ensure the extra clauses are invoked. With Steve Hayes and Club Chairman Ivor Beeks in attendance, the audience heard concerns from both sides of the arguement on the future of the Club but perhaps significantly a comment from the Trust Board that the nature and timescales of the proposals had been 'completely disrespectful to the Trust Board and the Supporters' brought virtual unanimous applause. Elsewhere, Trust Honoury President Karen Adams, granddaughter of Frank Adams', admitted she didn't like being 'bullied' into a decision and her father and grandfather 'would have been disturbed if one person owned the Club'. Comments, again, that brought sustained applause from the audience. A spokesperson from the Government funded Supporters Direct organisation also spoke out against the proposals and suggested with the current level of spending it may only be two or three years before the Club are back to an even worst position. The wide range of views on the matter was also emphasised when the margin of acceptance by the Trust Board to recommended a 'yes' vote was revealed as an eight 'for' and seven 'against', with one abstention and subsequent resignation from that individual. The outcome will now depend on how qualifying Trust members decided how to vote the block vote of 152 Founder Shares at the EGM on Monday 6th July 2009. Trust members received voting instructions at the meeting and will be confirmed in the post - these will need to be returned by 4th July 2009 at the latest. Founder Shareholders in their own right (348) will also vote their individual share and this will be done by proxy before the EGM or in person at the EGM on 6th July. COTN summary of the proposals can be read here The full proposals can be read via the Supporters Trust website The voting process
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