2016 AGM

[PurpleCanary 6,463]

The AGM is looming, with certain topics likely to be raised. At least four come to mind.1) The accounts show that Tom Smith and Ed Balls were allowed to buy shares at £1 when the Norwich City Supporters'' Trust, for example, had to pay £100. Even if the price has been downgraded, as the result of a re-evaluation (just as it was so decided to raise it from £30 to £100), it is inconceivable it would have been marked down that far.2) I can imagine a question on who is the director other than McNally who received £90,000 during the year. The accounts never named McNally as the one paid director, or Doncaster before him, although it was obviously them. So, by the same token, the directors may refuse to identify the lucky recipient, or explain why we now apparently have a paid executive or semi-executive director as well as the CEO.If the answer is that the money went to Steve Stone for standing in during the summer then that will kill off that as an attack issue, although raising the nerdy question of why he is described as a director in what is meant to be a scrupulously accurate document when he seems never to have been one.3) "No way will we sell. We don’t even listen to any enquiries." That seems fairly clear. Not listening to enquiries, though, would not stop someone who was not put off being not listened to making a formal offer for the club. Smith and Jones are bound by company law to pass any such on to shareholders.What shareholders would make of what seemed like a very good formal offer that hadn''t been listened to is a question. The theory is that, because NCFC is not a listed company, any hostile takeover would be bound to fail, because of the 51 per cent majority holding. Under the right circumstances the reality is that Smith and Jones or Smith junior would not be able to stand in the way. But it would have to be a demonstrably very good formal offer.4) I am more than a little intrigued by these trustees who will hold the shares for Smith junior, and would like to know much more. Unfortunately, it isn''t strictly speaking anything to do with the club and the AGM but a private matter for Smith and Jones.

[Buh 0]

Will you sleepbetween now and the agm purple or is the excitement just too much?

[Lessingham Canary 108]

Have sent in my form of Proxy, as unfortunately cant get back in time to attend, cant see many objections to the passing of any of the resolutions, unless some are going to surprise us?.

[morty 0]

Should be a great opportunity for folks who gob off here, who are also shareholders, to get the answers they seek.

[Indy 3,499]

Ultimately Morty what''s the point of any questions?

They''ve already said no sale, haven''t listened to offers and the downgrade of share value to the privileged few shows that they don''t have the best interests of the club or fans, should that be customers.

It''s a futile excersize and I have to agree with what was once said by another clubs board, about nobody should own a majority share in a club as it''s not good for that club.

Hope all who go have fun, but I find myself for the first time in 40 years distancing myself from the club I''ve followed and loved.

Just find myself not enjoying watching the club dish out the same tripe, the cost of everything has gone through the roof, so next year will be my first without football, I''ll be interested if I miss it at all.

[morty 0]

[quote user="Indy"]Ultimately Morty what''s the point of any questions?

They''ve already said no sale, haven''t listened to offers and the downgrade of share value to the privileged few shows that they don''t have the best interests of the club or fans, should that be customers.

It''s a futile excersize and I have to agree with what was once said by another clubs board, about nobody should own a majority share in a club as it''s not good for that club.

Hope all who go have fun, but I find myself for the first time in 40 years distancing myself from the club I''ve followed and loved.

Just find myself not enjoying watching the club dish out the same tripe, the cost of everything has gone through the roof, so next year will be my first without football, I''ll be interested if I miss it at all.[/quote]Your choice.Not one I''d make.

[Duncan Edwards 2,428]

Indy, I understand how you have arrived at your conclusion but the investment question, while seemingly dismissed out of hand, can be taken another way.

Notwithstanding that any interview has to be edited and abridged to keep it interesting and an angle has to be found, it came across to me that a clear succession plan is in place and that Tom simply couldn''t "cash in" to any old T, D or H, which must be a good thing.

However, the notion of having an overseeing "panel" of trustees suggests that he could sell if it was in the best interests of the club and so said such a panel.

Of course, if someone was serious about buying the club, they could table an offer. Irrespective of Delia''s "not listening" that would have to be passed on to the existing shareholding. Should there be a feeling that this was the way forward then the shareholding could make their feelings known. At that point, should Delia and MWJ stand as a barrier between potential investor and the "club", then I heavily suspect their hand would be forced. I don''t ever foresee them being a barrier though.

Deciding to give up football after such a long period is a decision on a par with a divorce. I''m surprised that you''re willing to do so and I''ll be thoroughly amazed if you subsequently stop voicing your opinion on here.

Giving up crystal meth would be easier.

[......and Smith must score. 1,637]

[quote user="morty"]Should be a great opportunity for folks who gob off here, who are also shareholders, to get the answers they seek.[/quote]It''ll be the same as all AGM''s the world over. Anything sticky lobbed at the Teflon-coated top table will just slide off without trace.

[morty 0]

[quote user="......and Smith must score."][quote user="morty"]Should be a great opportunity for folks who gob off here, who are also shareholders, to get the answers they seek.[/quote]It''ll be the same as all AGM''s the world over. Anything sticky lobbed at the Teflon-coated top table will just slide off without trace. [/quote]Sticky stuff being lobbed?What exactly goes on at these things?

[nutty nigel 7,963]

I''ll be there. But we need someone with more gravitas than a bingo calling bog cleaner to ask questions on behalf of the astute business types on here. Any suggestions?

[Number 9 0]

If you need gravy, Nutty, best look at the ''what you had for tea'' thread.

[daly 556]

What I have seen at past AGM''s is that after the Usual Suspects have voiced their appreciation at the good work that the top table does little time is left and if things start to get sticky then the Chairman will state we''ll take a couple more questions.

Not like a Ken Dodd show where the audience is still there at midnight

[morty 0]

[quote user="daly"]What I have seen at past AGM''s is that after the Usual Suspects have voiced their appreciation at the good work that the top table does little time is left and if things start to get sticky then the Chairman will state we''ll take a couple more questions.

Not like a Ken Dodd show where the audience is still there at midnight[/quote]I believe you submit questions beforehand, to be added to the agenda? Thats how these things usually work, rather than some kind of hand waving free for all?If people really want their questions answered, then they need to do a bit of legwork, not just bump their gums on an internet forum.

[daly 556]

Morty

Might be the way it should be done but at CR its guy or gal with a mike chasing the raised hands

[nutty nigel 7,963]

Damn those usual suspects. Is that why we never hear from the silent majority? 

[morty 0]

[quote user="daly"]Morty

Might be the way it should be done but at CR its guy or gal with a mike chasing the raised hands[/quote]Nah, not having that. If you have important questions that need answering you must be able to submit them in advance, so they are part of the agenda, instead of leaving it to the free for all of "Any other business".

[Midlands Yellow 4,714]

Maybe just the panel and Morty in audience ?

[morty 0]

Look fella, the continued interest is flattering, but I have a girlfriend, I''m not available.

[PurpleCanary 6,463]

[quote user="Buh"]Will you sleepbetween now and the agm purple or is the excitement just too much?[/quote]I''ll happily fill in the time by carrying on being right about Brexit.

[morty 0]

[quote user="PurpleCanary"][quote user="Buh"]Will you sleepbetween now and the agm purple or is the excitement just too much?[/quote]I''ll happily fill in the time by carrying on being right about Brexit.[/quote]Purple, you seem knowledgeable in these things, am I correct in saying that if shareholders have burning questions, they should be submitted prior to the AGM, so they can be included on the agenda?

[......and Smith must score. 1,637]

[quote user="morty"][quote user="......and Smith must score."][quote user="morty"]Should be a great opportunity for folks who gob off here, who are also shareholders, to get the answers they seek.[/quote]It''ll be the same as all AGM''s the world over. Anything sticky lobbed at the Teflon-coated top table will just slide off without trace. [/quote]Sticky stuff being lobbed?What exactly goes on at these things?[/quote] [:D] With the industrial scale gobbing off that goes on pre-AGM there''s bound to be a few stray rounds on the day....

[Buh 0]

Purple, is this AGM binding or advisory?

[PurpleCanary 6,463]

[quote user="morty"][quote user="PurpleCanary"][quote user="Buh"]Will you sleepbetween now and the agm purple or is the excitement just too much?[/quote]I''ll happily fill in the time by carrying on being right about Brexit.[/quote]Purple, you seem knowledgeable in these things, am I correct in saying that if shareholders have burning questions, they should be submitted prior to the AGM, so they can be included on the agenda?[/quote]I have never been to an AGM, but I believe that while motions to be voted on should be submitted in advance, so they can be put on the agenda, questions can be asked at the meeting, without notice. It would then be necessary to catch the chairman''s eye in the time allowed, and risk a politician''s answer that was no answer at all.An alternative, which I have used a couple of times with questions on finance that required a detailed reply, is to send a private email to the CEO or the director of finance.

[Chesney Hawkes 0]

I believe the same two old codgers always get a long and rambling question upfront as "friendly fire" to warm the panel up.

[morty 0]

[quote user="King Crimson"]I believe the same two old codgers always get a long and rambling question upfront as "friendly fire" to warm the panel up.[/quote]Having been to a Q&A with the board at Carrow Rd before, I can confirm this to be pretty much how it goes[:D]

[ricardo 8,109]

How we long for the old days of fag packet accountancy.

[nutty nigel 7,963]

[quote user="ricardo"]How we long for the old days of fag packet accountancy.[/quote]

Whatever happened to those FPAs?

[AJ 1,377]

FPA''s in Crisis...

[ricardo 8,109]

Are FPA''s LGBT compiant?

[Buncey 1]

If somebody wants to cause a ruckus:

If the answer to Purple''s question 1 is the mechanism set out in Resolutions 5 and 6 of last year''s resolutions what assurances can the majority shareholders and board of directors provide that they will not undertake to dilute the shareholdings of the minority shareholders (I. E. The fans). And what safeguards will the board of directors undertake to ensure this. (ref s561 of the companies act)