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   Four Hammers in team of the week [11th Dec 2017]
   arrow   West Ham allocated three per cent for Spurs trip [11th Dec 2017]
   arrow   The opposition view: Chelsea [10th Dec 2017]
   arrow   Snodgrass fires back in new twitter row  [8th Dec 2017]
   arrow   Moyes plays down Ings interest [8th Dec 2017]
   arrow   Sporting wanted 25m for Carvalho - so we offered 20 [8th Dec 2017]
   arrow   Moyes tight-lipped on goalkeeper conundrum [8th Dec 2017]
   arrow   In brief - Friday's news round-up [8th Dec 2017]
   arrow   West Ham facing January nightmare [8th Dec 2017]
   arrow   Ludo reimbursed for ticket costs [8th Dec 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
Peter Brabrook
Peter Brabrook, one of the stars of West Ham United's FA Cup win over Prest...more
Three Years Ago
Ex-Hammer hopes to land Albion deal
Former Hammer Alou Diarra is hoping to land a contract with Brighton & Hove Albion....more
Five Years Ago
Downes departure 'amicable', says Allardyce
Sam Allardyce has confirmed that first team coach Wally Downes has left the club....more