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Title: AGM - 25th October 11am Post by: Batch on Thursday, October 2, 2008, 11:46:13 Obviously this has been known for a while, and also the meeting is shareholders only.
For those interested AF has published an introduction and the club accounts (05-07) are available from the OS are available here (click on links for PDF) http://www.swindontownfc.premiumtv.co.uk/page/NewsDetail/0,,10341~1409747,00.html --------------------- Not sure there is anything we didn't already know, but when people wonder why we didn't "spend big" then the £1.8m loss for last year is a good indicator! Title: Re: AGM - 25th October 11am Post by: yeo on Thursday, October 2, 2008, 12:16:03 Not that I want to go or anything but what happened with the Prospect buy a share thing? I think Paul D said something about it having been sorted ive never had any proof of this.If I wanted to go this meeting what would I have to do,how do I prove Im a share holder?
Sie Pie did you get anything? Title: Re: AGM - 25th October 11am Post by: herthab on Thursday, October 2, 2008, 12:20:53 I got my share Yeovil. Ages ago......
Title: Re: AGM - 25th October 11am Post by: yeo on Thursday, October 2, 2008, 12:22:31 Oh ,I wonder if I did but forgot.
Title: Re: AGM - 25th October 11am Post by: pauld on Thursday, October 2, 2008, 12:33:45 Not that I want to go or anything but what happened with the Prospect buy a share thing? I think Paul D said something about it having been sorted ive never had any proof of this.If I wanted to go this meeting what would I have to do,how do I prove Im a share holder? AFAIK, Yeovil, all the share certs were sent out some time ago - in fact, I think I was the last one to get mine. As a shareholder, I believe you should be sent an invitation to the AGM anyway and if not, you should be able to give your name, address etc on the door so they can check it off against the register. But it's a reasonable question, I'll ask.Like you'll be up in time to go to it anyway ;-) Title: Re: AGM - 25th October 11am Post by: Power to people on Thursday, October 2, 2008, 12:53:18 Watkins was on RS this morning and mentioned that the losses were at £2m from previous years acounts before Fitton & Co got involved.
Title: Re: AGM - 25th October 11am Post by: Simon Pieman on Thursday, October 2, 2008, 13:13:53 I haven’t had an invite to the AGM yet but got the shares through ages ago. It may be that I missed a letter, I do have loads of unopened letters which I have assumed to be junk. One of my weekend jobs to go through all of them.
Title: Re: AGM - 25th October 11am Post by: pauld on Thursday, October 2, 2008, 13:23:54 I haven’t had an invite to the AGM yet but got the shares through ages ago. It may be that I missed a letter, I do have loads of unopened letters which I have assumed to be junk. One of my weekend jobs to go through all of them. I believe it's 14 days notification period for AGMs under the club rules and there may not even be a requirement to notify people via post (ie publicly posted notice on website, in local press etc may be sufficient). Hence why I said "I believe you should be sent"... ie they might not have to send them out and may choose not toTitle: Re: AGM - 25th October 11am Post by: Paolo69 on Thursday, October 2, 2008, 13:43:12 Does any of you lot know who to contact about these?
I was sent one cetificate for 2 shares and what i really wanted was 2 certificates of one share each (one in my name and one in my old mans). I have also moved house since they were sent so may need to inform them of this to get my invite... Title: Re: AGM - 25th October 11am Post by: pauld on Thursday, October 2, 2008, 13:48:28 Does any of you lot know who to contact about these? In the first instance, just ring the main switchboard at the club. They won't be able to answer your question immediately I wouldn't have thought, but they'll be able to direct the enquiry in the right directionTitle: Re: AGM - 25th October 11am Post by: Paolo69 on Thursday, October 2, 2008, 13:49:51 Cheers Pauld. Was gonna do this as a last resort but thought someone might be "in the know" as it were.
Title: Re: AGM - 25th October 11am Post by: michael on Thursday, October 2, 2008, 16:22:16 Yeah well anyway I had a nosey through the accounts and couldn't understand much of it but did see that we got £500k up front for both Tozer and Lukas.
Suckers. Title: Re: AGM - 25th October 11am Post by: Batch on Thursday, October 2, 2008, 17:48:43 Yeah well anyway I had a nosey through the accounts and couldn't understand much of it but did see that we got £500k up front for both Tozer and Lukas. Suckers. Yes, Fitton makes mention of it in his intro Quote ... In August 2007 the Club sold Lucas Jutkiewicz to Everton for a sum of £500,000 rising to circa £1m, dependent on performance, and in January 2008 the Club sold Ben Tozer to Newcastle United for a sum of £500,000 again rising to £1m dependent on performance. Although shareholders and fans may wish for the Club to hold on to its young assets, it is part of the modern game of football that clubs take the opportunity to realise the value that is represented in some of their younger players when the opportunity arises. At Swindon Town we will continue to invest in our Centre of Excellence and youth policy in order to achieve both the strengthening of our senior playing squad and to harvest the financial rewards that result from producing successful young players whohave the ability to play football at the highest level. Title: Re: AGM - 25th October 11am Post by: Spencer_White on Thursday, October 2, 2008, 17:52:56 Is this right?
The average number of persons employed by the Company, including Directors, during the year was as follows:- 2007 Number Number Playing and coaching staff 59 Administration 116 Selling 107 So we payed the wages of 223 people who were not on footballing side of Swindon Town? Title: Re: AGM - 25th October 11am Post by: michael on Thursday, October 2, 2008, 17:58:55 Fair amount of them will be selling beers, burgers etc. Guess that would come under Selling but how do we have 116 under Administration?!
Title: Re: AGM - 25th October 11am Post by: Spencer_White on Thursday, October 2, 2008, 18:01:57 And I just dont believe that loan of 2.45 million by 'Shaw Park Developments Limited'. Yeah right, made up debt.
Title: Re: AGM - 25th October 11am Post by: Spencer_White on Thursday, October 2, 2008, 18:02:49 Fair amount of them will be selling beers, burgers etc. Guess that would come under Selling but how do we have 116 under Administration?! I suppose stewards might come under Administration? Title: Re: AGM - 25th October 11am Post by: michael on Thursday, October 2, 2008, 18:03:43 That's the St Modwen money isn't it?
Mortgaged up to our eyeballs weren't we? Title: Re: AGM - 25th October 11am Post by: Nemo on Thursday, October 2, 2008, 18:09:57 Stewards are mostly temps from C&D so not sure if they'd show up as club employees.
Title: Re: AGM - 25th October 11am Post by: Spencer_White on Thursday, October 2, 2008, 18:19:02 Ah, Id forgotten about that one. Good old St Modwen.
Diamandis screwed them over big time! Wages were £3 million in 2007. Makes an average of only 10k per person. Title: Re: AGM - 25th October 11am Post by: Nemo on Thursday, October 2, 2008, 18:46:00 Which isn't bad for the ones who only work matchdays!
Title: Re: AGM - 25th October 11am Post by: Spencer_White on Thursday, October 2, 2008, 18:47:56 I give up now, trying to be clever.
Youre a crook Diamandis. You always were and you still are. Title: Re: AGM - 25th October 11am Post by: Simon Pieman on Thursday, October 2, 2008, 18:48:01 Is it average employees? Could have had loads of starters and leavers in that year.
Title: Re: AGM - 25th October 11am Post by: Simon Pieman on Thursday, October 2, 2008, 18:58:15 Yeah it is average. Does seem a bit high then. But I don't know how many people you would need to run a football club.
Title: Re: AGM - 25th October 11am Post by: Simon Pieman on Thursday, October 2, 2008, 19:06:17 Things I noticed when I had a gander at the 07 accounts a while back:
* We were right about the CVA having to be paid by June 2007. * This did potentially affect going concern (the ability to trade into the forseeable future). * The amounts owed to customs were rediculous. * If it got worse than that by the time Fitton took over (I assume given the trends it did), we probably were very very close to losing the club. Probably closer than the more blasé fans realised. Makes the endless 'investigating' that people did all the more worthwhile, because I'm sure without that, we'd have probably not ramped up the protests enough and early enough. I'm pleased the fans got their way and even more grateful that someone as professional as our current management team took over. Title: Re: AGM - 25th October 11am Post by: axs on Thursday, October 2, 2008, 20:04:45 Yeah it is average. Does seem a bit high then. But I don't know how many people you would need to run a football club. thing is, you employ 100 people for one day a fortnight. Title: Re: AGM - 25th October 11am Post by: Simon Pieman on Thursday, October 2, 2008, 20:09:15 Not admin staff
Title: Re: AGM - 25th October 11am Post by: axs on Thursday, October 2, 2008, 20:17:50 no, but ticket sellers - do they count as admin? programme sellers?
You're right about the admin though - that's a lot. Title: Re: AGM - 25th October 11am Post by: Simon Pieman on Thursday, October 2, 2008, 20:40:28 I would guess they were classed as selling staff. Like I said, I don't know how many it takes to run a football club.
I know for a fact that they have changed a hell of a lot with their staff and staff structure though. Title: Re: AGM - 25th October 11am Post by: Summerof69 on Friday, October 3, 2008, 08:28:31 We were in a lower division but the wages went up by nearly 50%.
After Wise's PA was made redundany in Oct '06 due to cost cutting (!!!), by the wnd of the year the number of employees went UP !! And we owed over £3m to HMRC, meaning they didn't pay the tax man at all, yet we had the money to find £1.7m in 'admin' expenses. Title: Re: AGM - 25th October 11am Post by: Simon Pieman on Friday, October 3, 2008, 20:35:28 Got my letter through today.
Title: Re: AGM - 25th October 11am Post by: Iffy's Onion Bhaji on Saturday, October 4, 2008, 13:16:21 Yeah same as. A good read should be an interesting AGM.
Title: Re: AGM - 25th October 11am Post by: donkey on Saturday, October 4, 2008, 15:24:49 I'm looking forward to attending and not voting against everything. I did that at the last AGM under the old regime and Sandy Gray tried to stare me out - fucking hilarious!
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