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   Sakho, Randolph, Snodgrass & Sigurdsson : Friday's news [24th Mar 2017]
   arrow   No more Sakho this season [23rd Mar 2017]
   arrow   Hammers target seeking 'big club' move [23rd Mar 2017]
   arrow   In brief - Thursday's news round-up [23rd Mar 2017]
   arrow   West Ham eye Bundesliga star [22nd Mar 2017]
   arrow   In brief - Wednesday's news round-up [22nd Mar 2017]
   arrow   Transfer news: West Ham linked with veteran forward [21st Mar 2017]
   arrow   Obiang out for the season [20th Mar 2017]
   arrow   I'm sorry, says Dave [19th Mar 2017]
   arrow   Montage of tributes to replace pre-planned applause [17th Mar 2017]



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
West Ham Utd 6-5 All Stars (7-7 on pens)
The sun and the stars came out for Mark Noble's testimonial at the Boleyn G...more
Three Years Ago
Allardyce on... Hull City
Rather than reflecting upon a win that takes his team to the cusp of Premier League safety, Sam Alla...more
Five Years Ago
Knives out for Allardyce
Peterborough manager Darren Ferguson and club captain Grant McCann will be doing their utmost to ens...more