Text  Larger | Smaller | Default

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   Slap on the wrist for Tomkins [29th Sep 2014]
   arrow   Nolan: I was onside [27th Sep 2014]
   arrow   Manchester Utd 2-1 West Ham Utd [27th Sep 2014]
   arrow   The Man U view [27th Sep 2014]
   arrow   Collison completes Ipswich switch [26th Sep 2014]
   arrow   Nolan and Jarvis on the comeback trail [25th Sep 2014]
   arrow   Mears hoping for Premier League return [25th Sep 2014]
   arrow   Nolan: no place is guaranteed [24th Sep 2014]
   arrow   Have West Ham fans hijacked MEN poll? [24th Sep 2014]
   arrow   A new home until Christmas [24th Sep 2014]


Your Comments


comments powered by Disqus
 
News Image




On This Day ...

One Year Ago
Hearn denies 'compo' charge
Leyton Orient empresario Barry Hearn has vowed to keep on fighting the deci...more
Three Years Ago
Hammers go global
West Ham United's International Academy continues to seek the very best young players from around th...more
Five Years Ago
Welcome returns
Matthew Upson and Valon Behrami are both expected to return for the Hammers ahead of this weekend's...more