New Board Director Confirmed - Mark Attanasio

[hogesar 9,658]

https://www.canaries.co.uk/content/club-issue-notice-of-general-meeting-to-shareholders

 

Quote

Norwich City has issued a notice to the club’s shareholders for a general meeting on Monday, September 12, 2022.

The formal business will be limited, and will include a resolution to appoint Mark Attanasio, an American businessman and principal owner of the Milwaukee Brewers baseball team, as a new director of the football club.

Only the club’s current directors and shareholders will be present, and given the anticipated short length of the meeting, shareholders are encouraged to vote by proxy.

The club will issue a further announcement following the conclusion of the shareholder proceedings and legal formalities.

 

[Diane 500]

I will be there  to cast my eye over the new director 😀

[Robert N. LiM 4,340]

2 minutes ago, Diane said:

I will be there  to cast my eye over the new director 😀

You might be disappointed...

15 minutes ago, hogesar said:

Only the club’s current directors and shareholders will be present,

 

[paddycanary 539]

Looks like you sneaked in your thread 1 solitary minute before Cambridgeshire!

Good to hear something concrete and looks like an acknowledgement that we need to try something different. OTBC! 

Welcome on board Mr Attanasio. 

[KiwiScot 1,443]

3 weeks at least until we get more information on what we are getting for this.

[TheBaldOne66 682]

22 minutes ago, hogesar said:

https://www.canaries.co.uk/content/club-issue-notice-of-general-meeting-to-shareholders

 

 

Not confirmed yet, that’s what the meetings for isn’t it? 

[TheGunnShow 5,940]

Hopefully it'll be mainly business as usual. I get the impression Attanasio's a very smart cookie who won't rock the boat to start with. Far better to gently work his way in and see where the synergies lie.

[TIL 1010 4,738]

13 minutes ago, Robert N. LiM said:

You might be disappointed...

 

Diane is a shareholder and the released statement says because the meeting will be short with only one resolution shareholders are encouraged to vote by proxy. Says nothing about shareholders not being able to attend. Actually i question that having called a GM of shareholders you can turn them away from the meeting legally.

Edited August 19, 2022 by TIL 1010

[KeiranShikari 1,410]

7 minutes ago, TheBaldOne66 said:

Not confirmed yet, that’s what the meetings for isn’t it? 

I'd say it's all but confirmed. This is happening we just don't know what 'this' looks like yet.

[Diane 500]

15 minutes ago, Robert N. LiM said:

You might be disappointed...

 

I am a shareholder ??

[ncfcstar 291]

Just now, TIL 1010 said:

Diane is a shareholder and the released statement says because the meeting will be short with only one resolution shareholders are encouraged to vote by proxy. Says nothing about shareholders not being able to attend.

Yes, it's strangely worded.  Good news though, a fresh face on the board is needed.

[TheBaldOne66 682]

1 minute ago, KeiranShikari said:

I'd say it's all but confirmed. This is happening we just don't know what 'this' looks like yet.

Until it’s ratified, we have to wait as deals have gone wrong at the last minute before

[Wacky Waving Inflatable Arm Flailing Tube Man 3,820]

4 minutes ago, KeiranShikari said:

I'd say it's all but confirmed. This is happening we just don't know what 'this' looks like yet.

Indeed, I'm not sure the club would make such an announcement if it wasn't a formality. 

But then again, my other team announced the signing of Mathias Normann on Tuesday only for it to fall through less than 36 hours later...

[Branston Pickle 3,657]

18 minutes ago, KiwiScot said:

3 weeks at least until we get more information on what we are getting for this.

Such as? One bloke has sold/is selling something to another bloke.  ‘We’ (as in the club) don’t necessarily get anything.

[Jim Smith 2,317]

Intrigued by this as I'm not sure you need a special general meeting to appoint a new board director? There must, therefore, be other business to be passed at that meeting which may be the truly interesting element of this news.

[Jim Smith 2,317]

10 minutes ago, TIL 1010 said:

Diane is a shareholder and the released statement says because the meeting will be short with only one resolution shareholders are encouraged to vote by proxy. Says nothing about shareholders not being able to attend. Actually i question that having called a GM of shareholders you can turn them away from the meeting legally.

It says it will include that resolution. It doesn't say it will be the only resolution. Indeed as I have posted above i don't think you need a general meeting to pass a resolution to appoint a new director so there must be more going on that just that. 

[Jim Smith 2,317]

You also don't need a special members meeting for Attanasio to just buy Foulgers shares. 

[TIL 1010 4,738]

1 minute ago, Jim Smith said:

You also don't need a special members meeting for Attanasio to just buy Foulgers shares. 

£10 million is being brought to the table with him but for what and with any strings attached is the question Jim.

[Jim Smith 2,317]

Just now, TIL 1010 said:

£10 million is being brought to the table with him but for what and with any strings attached is the question Jim.

Well if they are holding a special members meeting then they must be passing resolutions that need a general meeting - my guess would be that might relate to an allocation of some of the unallocated shares (which possibly does require authorisation at a general meeting)? But perhaps thats just wishful thinking. 

[Leedscanary 337]

17 minutes ago, Diane said:

I am a shareholder ??

It clearly states current directors and shareholders, alluding to the fact that Mr Attanasio won’t be there. 
 

Hence why you can’t cast your eye over him…

[TIL 1010 4,738]

1 minute ago, Jim Smith said:

Well if they are holding a special members meeting then they must be passing resolutions that need a general meeting - my guess would be that might relate to an allocation of some of the unallocated shares (which possibly does require authorisation at a general meeting)? But perhaps thats just wishful thinking. 

I am fairly sure and @GMF will correct me if i am wrong but a resolution with regard to the 1,000,000 unallocated shares is passed at an AGM every 3 or 5 years giving the board authority to issue them as and when.

[Ken Hairy 3,772]

12th September just to formally confirm the deal then. Absolutely superb news,  and I suspect the first step in a total takeover in the future,  presumably should we get promoted again? 

[A Load of Squit 5,161]

I just asked someone who deals with this stuff and he said it's not unusual to have an AGM/EGM so that the shareholders can vote to appoint a director to the board, the situation with Zoe Ward is that she's an Executive Director and (he said) that's different.

 

[GodlyOtsemobor 2,296]

After the transfer window.... Hmmph 😒 

 

 

 

 

 

😜

[Bert 236]

Where is Essex when you need him 

[keelansgrandad 6,679]

So what is those close to the club feelings for the future?

Is it likely to be, Delia and Michael wait a year or so and then sell to Attanasio as long as they believe its in the clubs best interest?

Or Tom will still get their shares?

[GMF 736]

18 minutes ago, TIL 1010 said:

I am fairly sure and @GMF will correct me if i am wrong but a resolution with regard to the 1,000,000 unallocated shares is passed at an AGM every 3 or 5 years giving the board authority to issue them as and when.

It’s a time limited option, to allocate up to 1,000,000 ordinary shares, first granted in 2010, for a five year period, and renewed again, both in 2015 and 2020. The option can actually be exercised by the directors without further notice to shareholders.

[A Load of Squit 5,161]

16 minutes ago, A Load of Squit said:

I just asked someone who deals with this stuff and he said it's not unusual to have an AGM/EGM so that the shareholders can vote to appoint a director to the board, the situation with Zoe Ward is that she's an Executive Director and (he said) that's different.

 

As Michael Bailey just tweeted, it's all a bit routine if Delia, MWJ & their joint majority holding vote yes then that's it. 

[Greavsy 2,413]

7 minutes ago, Bert said:

Where is Essex when you need him 

Hes either looking for his share Cert, or frantically trawling through the articles of association.  

[Jim Smith 2,317]

19 minutes ago, A Load of Squit said:

I just asked someone who deals with this stuff and he said it's not unusual to have an AGM/EGM so that the shareholders can vote to appoint a director to the board, the situation with Zoe Ward is that she's an Executive Director and (he said) that's different.

 

I stand corrected then. I’m fairly sure though that Fry and possibly Phillips were appointed mid year and not at an AGM?