| EGM on 18:38 - Jul 24 with 56901 views | 442Dale |
Ahead of the debate on the reason for the EGM, why hasn’t the AGM been called as well?
Or will it be? |  |
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| EGM on 19:03 - Jul 24 with 56800 views | NorthernDale |
What does the resolution mean in simple terms and how would it impact on the Dale's ownership of the ground? |  | | |
| EGM on 19:21 - Jul 24 with 56718 views | 49thseason |
Interesting, if more than a little worrying. |  | | |
| EGM on 19:23 - Jul 24 with 56702 views | Sandyman |
Shareholders will have to wait and see what the details are, but it seems like they want to amend the "Morris Resolution" put in place to protect the ground "in respect of a loan facility".
The initial announcement fails to state a Special Resolution requires a 75% vote in favour to be carried by the meeting. |  | | |
| EGM on 19:36 - Jul 24 with 56596 views | SuddenLad |
I would have thought that the AGM should precede an EGM so that we are aware of the latest position in terms of finance, before any EGM proposals are even considered. Just my opinion. |  |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| EGM on 19:41 - Jul 24 with 56563 views | 442Dale |
| EGM on 19:36 - Jul 24 by SuddenLad |
I would have thought that the AGM should precede an EGM so that we are aware of the latest position in terms of finance, before any EGM proposals are even considered. Just my opinion. |
Would hazard a guess that it would be the opinion of many more.
Most certainly it should be something the Trust need to be asking their members who may want to be fully aware of the club’s position before voting on any EGM proposals. | |
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| EGM on 19:43 - Jul 24 with 56545 views | NorthernDale |
So in theory, the ownership of the ground could be transferred to Gauge and Knight to cover any potential loan, so we could end up losing the ground, which would be a concern. I am getting concerned on how the board is operating, they seem to operate in secret and then make sudden announcements like today.
Did Bottomley not get a council loan to cover the Covid period, which may be a more suitable option to raise capital. | | | |
| EGM on 19:54 - Jul 24 with 56489 views | SuddenLad |
| EGM on 19:43 - Jul 24 by NorthernDale |
So in theory, the ownership of the ground could be transferred to Gauge and Knight to cover any potential loan, so we could end up losing the ground, which would be a concern. I am getting concerned on how the board is operating, they seem to operate in secret and then make sudden announcements like today.
Did Bottomley not get a council loan to cover the Covid period, which may be a more suitable option to raise capital. |
I think the EGM proposal just reinforces my stated view that there are NO serious interested parties on the horizon, so raising cash is now the immediate priority. Again - jut my opinion.
I'm still don't think that we have ever got to the 'tyre-kickers' stage. It's a bit worrying. | |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| EGM on 19:56 - Jul 24 with 56473 views | D_Alien |
| EGM on 19:36 - Jul 24 by SuddenLad |
I would have thought that the AGM should precede an EGM so that we are aware of the latest position in terms of finance, before any EGM proposals are even considered. Just my opinion. |
Absolutely
It'd be a condition of even considering voting in favour of the EGM resolution for me, and i'd hope most other shareholders |  |
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| EGM on 19:57 - Jul 24 with 56465 views | Newbury_Dale |
Put this on the website and then put the Ball departure news out almost straight afterwards. Good try. | | | |
| EGM on 20:10 - Jul 24 with 56389 views | surb_dale |
Far more info needs to be provided on this before any shareholder can cast a vote imo.
How much is the proposed loan?
What’s the rate and term?
How urgently is this cash needed?
Why aren’t the 2 directors buying more shares to inject cash?
Had the trust been notified of this plan?
As others have said this suggests that any chance of outside investment isn’t happening anytime soon so this seems a plan b. | | | |
| EGM on 20:20 - Jul 24 with 56324 views | James1980 |
| EGM on 19:54 - Jul 24 by SuddenLad |
I think the EGM proposal just reinforces my stated view that there are NO serious interested parties on the horizon, so raising cash is now the immediate priority. Again - jut my opinion.
I'm still don't think that we have ever got to the 'tyre-kickers' stage. It's a bit worrying. |
Hoping that any potential tyre kickers have been deemed as unsuitable but due to NDA's we know nowt about them. | |
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| EGM on 20:22 - Jul 24 with 56308 views | 49thseason |
| EGM on 19:43 - Jul 24 by NorthernDale |
So in theory, the ownership of the ground could be transferred to Gauge and Knight to cover any potential loan, so we could end up losing the ground, which would be a concern. I am getting concerned on how the board is operating, they seem to operate in secret and then make sudden announcements like today.
Did Bottomley not get a council loan to cover the Covid period, which may be a more suitable option to raise capital. |
I suspect the Council would ask for a similar deal these days, the banks won't lend without collateral, I doubt the Council would either. This move may signal that there isnt a buyer on the horizon and could be the only way of putting money into the club. They could buy more shares, but I guess there is a point where they would need to get their money back one way or another if the club cannot continue as a going concern. I imagine this will be classed as a Directors Loan, of itself not unusual, if we get a cup run or back in the EFL, they could then recoup the loans and cancel their claim on the ground. | | | |
| EGM on 20:24 - Jul 24 with 56301 views | NorthernDale |
| EGM on 20:10 - Jul 24 by surb_dale |
Far more info needs to be provided on this before any shareholder can cast a vote imo.
How much is the proposed loan?
What’s the rate and term?
How urgently is this cash needed?
Why aren’t the 2 directors buying more shares to inject cash?
Had the trust been notified of this plan?
As others have said this suggests that any chance of outside investment isn’t happening anytime soon so this seems a plan b. |
Totally agree, my major concern is if it goes through, what is stop them from selling the ground for housing.
Have they sought a loan from the council?
I am becoming seriously concerned about the future of the club under the present board, we seem to stagger from one disaster to another, yes they deserve credit in seeing off the shysters, but questions now need to be asked. [Post edited 24 Jul 2023 20:43]
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| EGM on 20:35 - Jul 24 with 56229 views | D_Alien |
This could make the Fans Forum on Thurs 3rd a bit tasty | |
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| EGM on 21:21 - Jul 24 with 56010 views | Will_RAFC |
Is this what saving the club looks like? Didn't we fight legal battles to specifically stop this?
The only EGM we should be having is to remove Gauge. ASAP. | | | |
| EGM on 22:06 - Jul 24 with 55817 views | ThreeLions |
I know in previous posts on this forum I've been critical of some posts containing negativity but this news is really worrying for the future of the club. Hopefully shareholders will vote to not accept the proposal. We are entering dangerous ground even if I believe both directors providing the money probably won't have an ulterior motive. |  | | |
| EGM on 22:17 - Jul 24 with 55744 views | BillyRudd |
It would still be a fan owned club. Effectively owned by just two fans when and if it all goes pear shaped. | | | |
| EGM on 22:31 - Jul 24 with 55675 views | DaleiLama |
Going to see what the shareholders communication says first but unless it has some very convincing and compelling supporting arguments in it, there ain't a snowflakes chance in hell I'll be supporting this based.
Announcing an EGM then later telling shareholders why doesn't even sit well. I'm trying to stay positive but starting to feel a little queasy. |  |
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| EGM on 22:39 - Jul 24 with 55640 views | SaxonDale |
It’s a no from me. Absolutely stinks that this wasn’t published on Twitter- at best it’s again sloppy from the club. |  | | |
| EGM on 22:44 - Jul 24 with 55617 views | Yorkshire_Dale |
This action will protect the money that these two have already put into the Club......sounds ideal for them? | | | |
| EGM on 22:50 - Jul 24 with 55581 views | Dalenet |
A bit baffling to be honest. Why do we need a loan? We weren't in any rush to bring cash into the club over summer through ticket sales? Or is it because ticket sales are so low? Or is this an attempt for the two directors to convert their existing shares into loan debt so that they are protected financially in a takeover or, heaven forbid, the end of the club?
We await the detail. | | | |
| EGM on 22:52 - Jul 24 with 55575 views | IOMDale |
| EGM on 22:31 - Jul 24 by DaleiLama |
Going to see what the shareholders communication says first but unless it has some very convincing and compelling supporting arguments in it, there ain't a snowflakes chance in hell I'll be supporting this based.
Announcing an EGM then later telling shareholders why doesn't even sit well. I'm trying to stay positive but starting to feel a little queasy. |
It’s already a no from me regardless, simply because of how they’ve gone about it. Not tweeting about it is a very deliberate act IMO. |  | | |
| EGM on 22:56 - Jul 24 with 55567 views | D_Alien |
| EGM on 22:39 - Jul 24 by SaxonDale |
It’s a no from me. Absolutely stinks that this wasn’t published on Twitter- at best it’s again sloppy from the club. |
I'm not sure "sloppy" would be the word i'd use. Some degree of pre-meditation must be involved, i.e. if no investor was found within a certain time period, this would be the next step. It would've certainly been pertinent to have set this out much earlier
We don't know the financial circumstances of those who've committed significant sums of money to saving the club two years ago. Nor are they obliged to divulge that information - that's their business. Until we have much more detail on the full implications, i don't see any point in saying what any of us would do | |
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| EGM on 23:00 - Jul 24 with 55547 views | surb_dale |
| EGM on 22:39 - Jul 24 by SaxonDale |
It’s a no from me. Absolutely stinks that this wasn’t published on Twitter- at best it’s again sloppy from the club. |
Does feel there have been efforts to deliberately conceal the news of the EGM. No twitter update and James Ball news released just after.
This really should been released with a video update from the chairman to explain in more detail.
I still like to think these actions are for the good of the club and a director loan is likely to be more favourable terms than a bank but the lack of openness and communication coming from the board just implies underhand tactics might be at play here. | | | |
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