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Philip Day Appointed Club Chairman

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ex-merseymariner
May 6, 2020, 8:23am

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Codalmighty diary yesterday was on the composition of the board, worth a read, .....  

So we finally have a Chair.

matt dean did a decent interview with him available on facebook or twitter.

Hmm


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BobbyCummingsTackle
May 6, 2020, 12:14pm
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Quoted from KingstonMariner
Voting at the board is on the basis of one member one vote. So in that sense JSF can be outvoted. When it comes to AGMs and EGMs and a vote based on shareholding is called then JSF has c43% of the shares/vote. I may be slightly out on the percentage. But he can still technically be outvoted there.

Where the control can really be exerted is through his loans and his guarantee to meet cash flow shortages (up to a limit). He could decide to take his bat home if he doesn’t like a decision.


Interesting, I didn't know that. I'm surprised it's one member one vote and I'm equally surprised that JSF agreed to that or set it up - I wouldn't! It makes no sense to me that someone with 43% of the shares should allow someone with (say) 5% to have the same voting power. But I'm not doubting you.


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KingstonMariner
May 6, 2020, 1:26pm
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Quoted from BobbyCummingsTackle


Interesting, I didn't know that. I'm surprised it's one member one vote and I'm equally surprised that JSF agreed to that or set it up - I wouldn't! It makes no sense to me that someone with 43% of the shares should allow someone with (say) 5% to have the same voting power. But I'm not doubting you.


That’s what the board members said at one of those fans forums (fora?). I believe them. But anything big then JSF will have the real say.


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aldi_01
May 7, 2020, 7:13am

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It can be one person one vote but that generally works as a model of the people aren’t puppets or yes men of the bloke who essentially holds the club (to ransom). Does anyone ever really see Day and Marley disagree with their chum?

And as you Kingston, whilst Fenty can be technically outvoted, the threat of taking his bat and ball home is clearly the reason he’s happy to remove cash from the club each year whilst leaving his ‘loans’...

This is a non story and I won’t be on my own in thinking this does little to change anything...


'the poor and the needy are selfish and greedy'...well done Mozza
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KingstonMariner
May 7, 2020, 10:02am
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It doesn’t change anything substantially Aldi, but there might be a change in style which won’t go amiss given our former non-chairman’s tendency to put his foot in his mouth. I was going to say ‘there’s no other show in town’ but I’ve just read the Shutes thing on the GrimTel.

PS I like all the precautions you’ve taken with your stores.


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