Text  Larger | Smaller | Default
KUMB.com Store

NewsNow

EGM: Board suffer 'no confidence' vote


Filed: Thursday, 29th May 2003
By: Graeme Howlett


Hammers chairman Terry Brown was given a clear message of 'no confidence' from supporters at today's EGM - despite the resolutions at the heart of the meeting being passed.

The resolutions - mainly to remove the club's existing borrowing limit, and to remove the cap of renumeration for non-executive directors were carried as expected, by 16,367,912 shares for to 224,019 against.

However in terms of number of heads present the board suffered an embarrassing defeat. Although the club chose not to allow shareholders to vote with the usual show of hands (prefering to count the votes during the recess) it is estimated that for every individual vote in favour of the resolutions there were, at the very least, 10 against - representing a huge vote of 'no confidence' in the board from those shareholders present.

Brown, speaking on whufc.co.uk this afternoon (Thursday) not surprisingly saw the result somewhat differently:

"I would like to thank our shareholders for attending today’s EGM and for their overwhelming support for the resolution to adopt the new Articles of Association," he said. "To have received 98.65% support for the resolution, and just 1.35% against, at the end of a difficult season is very much appreciated."

However, as already explained, the 98.65% he refers to actually equated to a tiny minority of shareholders present today.

Although the board may be claiming victory they will no doubt be concerned by the huge numbers that voted against the amendments by way of protest against the board, and their recent handling of the club.

We'll have more from today's AGM in due course ...



Related News

   arrow   Australia to observe Tombides silence [18th Apr 2014]
   arrow   Dylan Tombides [18th Apr 2014]
   arrow   Martin Allen joins KUMB Awards Live! [18th Apr 2014]
   arrow   Moncs: kids were thrown to the lions [18th Apr 2014]
   arrow   Tomkins trial delayed [17th Apr 2014]
   arrow   Allardyce dismisses Diame hopes [16th Apr 2014]
   arrow   Arsenal 3-1 West Ham United [16th Apr 2014]
   arrow   Allardyce on Drmic interest [15th Apr 2014]
   arrow   Go, Mo [13th Apr 2014]
   arrow   KUMB Awards Live: tickets on sale now! [10th Apr 2014]


Your Comments


comments powered by Disqus
 
News Image