Text  Larger | Smaller | Default

NewsNow

Rush for shares as EGM approaches


Filed: Saturday, 24th May 2003
By: Graeme Howlett


Supporters of West Ham United have been taking advantage of a special share scheme in order to purchase a stake in the club in preparation for the forthcoming EGM.

Outlets have been offering a single share priced at just 10 enabling supporters to own a part of West Ham, and perhaps more importantly giving them access to any future shareholders meetings - including next Thursday's Extraordinary General Meeting.

Fans have been signing up for the scheme in droves during recent days in order that they may have their say at the EGM, which was announced by under-fire chairman Terence Brown last month.

And Brown is set to face a grilling from supporters furious with the club's relegation and subsequent serious financial difficulties, in the meeting which is due to kick off at Upton Park around 11am.

The main purpose of the meeting is expected to be the change to a specific club rule which forbids West Ham's board from borrowing more than three times their current assets.

The club are thought to be approaching the limit (or even to already be in breach) of their borrowing capacity, and the move is being seen by some as an attempt to stave off possible administration - a situation that could occur should the banks decide to call in their debts, as they are entitled to do once the currently imposed limits are breached.

This scenario is unlikely however, yet the clubs decision to increase their debts has caused concern amongst many followers of the club - and it is those same supporters who are likely to be venting their anger at Brown and his fellow board members on Thursday morning.

Also on the agenda is the amendment to one particular rule which currently restricts director's renumeration to a maximum of 100k. The club propose to scrap the limit in another move which has further angered fans already bewildered at the extortionate salaries drawn by the sitting board members.

Don't forget to check into KUMB next Thursday for all big news from the EGM.

* If you would like further information on the single share scheme contact westhamshares@hotmail.com





Related News

   arrow   Wenger on Payet [3rd Dec 2016]
   arrow   Technology and the future of football  [3rd Dec 2016]
   arrow   Duo to miss Arsenal clash [2nd Dec 2016]
   arrow   WHUISA meeting tomorrow [2nd Dec 2016]
   arrow   In brief - Friday's news round-up [2nd Dec 2016]
   arrow   71 banned from Olympic Stadium, says Brady [1st Dec 2016]
   arrow   In brief - Thursday's news round-up [1st Dec 2016]
   arrow   Manchester Utd 4-1 West Ham Utd [1st Dec 2016]
   arrow   The Olympic Stadium: Poll #1 [30th Nov 2016]
   arrow   Rio Ferdinand defends West Ham's identity [30th Nov 2016]



Your Comments


Please note that this section is for comments relating to the above news item only. Any off-topic or abusive posts will be removed. Posts including either links and/or foul language are automatically filtered and will not be published. To engage in further discussion on any of our news stories, visit the KUMB Forums.

Not a member of the KUMB Forums? You may register for free membership here.

comments powered by Disqus
 
News Image




On This Day ...

One Year Ago
Gold, Sakho, Bilic & Adrian: Saturday's news
Get the very latest West Ham news in one place, with our new daily media ro...more
Three Years Ago
The West Ham advent calender: 5th December
The West Ham 2013 video advent calendar reaches day five - with long-term Hammers fan Derek Guiver g...more
Five Years Ago
Howe on... West Ham United
Eddie Howe was naturally delighted at seeing his team clinch a third successive nPower Championship ...more