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   Poyet apologises for two-year old tweet [29th Jul 2014]
   arrow   Spence on trial [29th Jul 2014]
   arrow   Bruce admits defeat in Jenkinson chase [29th Jul 2014]
   arrow   Valbuena in talks [29th Jul 2014]
   arrow   Jenkinson close to loan move [29th Jul 2014]
   arrow   Sydney FC 3-1 West Ham Utd [26th Jul 2014]
   arrow   #AskDS: in summary [25th Jul 2014]
   arrow   Sullivan and Big Sam set for Ravel showdown [25th Jul 2014]
   arrow   Andy Carroll returns from pre-season tour [24th Jul 2014]
   arrow   New deal for Hendo [21st Jul 2014]


Your Comments


comments powered by Disqus
 
News Image




On This Day ...

One Year Ago
Hammers return to Portugal
West Ham United have confirmed they will be taking part in the Guadiana Tro...more
Three Years Ago
Sam: I'm here to win the league
Sam Allardyce insists that nothing less than promotion will be an acceptable return from his first s...more
Five Years Ago
Beijing Guoan 0 West Ham Utd 2
West Ham ended their trip to China with a win against locan side Beijing Guoan at the Worker's Stadi...more