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Shareholders Say No To new Share Issue

By: Bill Osborne
Date: 26/11/2001

THE Extraordinary General Meeting of shareholders Grimsby Town Football Club was held today at Blundell Park to vote on the board's proposal to increase the share equity of the club.

The board had listed two options relating to increasing the share issue to be voted on.

    1. To sell shares to anyone on the open market.

    2. The second option to offer current shareholders additional shares based on their present holdings.

Both options required 75% of the shareholders to vote in favour to be carried out and only 59% voted in favour therefore both options were defeated.

Mr Bill Carr former chairman of GTFC called for a poll on each option before voting took place.

As the proposals were defeated, the chairman Mr Peter Furneaux offered to meet those who voted against the proposal to meet him to see if a way forward could be found on the share issue.

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