Resignations : Mon Jul 29, 2019 9:29 am  

https://beta.companieshouse.gov.uk/comp ... ng-history

https://beta.companieshouse.gov.uk/comp ... ng-history

Re: Resignations : Mon Jul 29, 2019 10:08 am  

Something in the wind?

Re: Resignations : Mon Jul 29, 2019 10:28 am  

Told in car park on Saturday that they were sacked by the shareholders (in the dinning area) when they found out no after match event had been organised.....last straw. New Chairman and Board coming soon

Re: Resignations : Mon Jul 29, 2019 11:19 am  

Dbvada wrote:

Told in car park on Saturday that they were sacked by the shareholders (in the dinning area) when they found out no after match event had been organised.....last straw.

Really? I would have thought notice of a shareholders' meeting would first have to be given (21 days notice?) to convene such a meeting to sack any director(s). Surely they can't do it "instantly"?

Re: Resignations : Mon Jul 29, 2019 11:37 am  

Fuzzy Duck wrote:

Really? I would have thought notice of a shareholders' meeting would first have to be given (21 days notice?) to convene such a meeting to sack any director(s). Surely they can't do it "instantly"?

Nope, you can terminate directors at any time, just needs the remaining board members to agree it and then do it.

If there is a financial involvement this can be sorted at the time or after the event.

Re: Resignations : Mon Jul 29, 2019 11:43 am  

Pellon Boy wrote:

Nope, you can terminate directors at any time, just needs the remaining board members to agree it and then do it.

If there is a financial involvement this can be sorted at the time or after the event.

But if the Board of Directors sacked these 2 directors, that must mean they sacked themselves, as there are only 3 directors.

And if it's down to a shareholders' vote, then ………………………..

"Removal by the shareholders
The shareholders must give 28 days’ notice of the meeting, and the director should be given the chance to put forward his or her case in writing, as well as attending the meeting."

Re: Resignations : Mon Jul 29, 2019 11:56 am  

Who is the controlling shareholder? If there is one then they make the call. As I understand it, there is a controlling shareholder.

Which articles of association are you reading?

Perhaps it was under the oft used phrase of 'mutual agreement'

Re: Resignations : Mon Jul 29, 2019 12:03 pm  

Looking at the last confirmation statement on Companies House website, there are several shareholders and I thought the statutory notice period for a shareholders meeting was required irrespective of the number.

My initial thought was shareholders can't just instantly sack directors in this manner without convening a proper meeting notifying ALL shareholders.

Re: Resignations : Mon Jul 29, 2019 12:03 pm  

Was such a shame to not have anything to go back to official. Kids would have loved to meet the players, us too. Quite a few getting off coaches at the Shay presumed there would be something on and when they wasn't they just headed into town or home instead. Such a waste of opportunity, players did their part on the day as did the fans, and to be let down by some individuals if it's the case is poor. Especially considering the rarity of the occasion.

Re: Resignations : Mon Jul 29, 2019 1:15 pm  

Fuzzy Duck wrote:

Looking at the last confirmation statement on Companies House website, there are several shareholders and I thought the statutory notice period for a shareholders meeting was required irrespective of the number.

My initial thought was shareholders can't just instantly sack directors in this manner without convening a proper meeting notifying ALL shareholders.

FD are you thinking about an Annual General Meeting which is the shareholder meeting and allows questions to the board. This has to give 21/28 days notice of questions and agenda items.

As demonstrated board meetings can be held in a car park if needed, and as long as there is a quorum of attendees it can be a 1 item agenda i.e. terminating directors. Board meetings are an agreed method of running a business and are normally diarised throughout a year, but sometimes there is a need to hold a special one to discuss a specific item.

pm me if you need to discuss or know any more.