The Trust Board met on Monday 10 August 2009 to discuss, amongst other things, how the Trust will exercise its vote at the upcoming EGM to decide on the Club Board’s proposal to sell the Main Stand and south end to a group of investors. The meeting was open for attendance by all interested supporters. After much debate, it was agreed that the Trust should abstain at the EGM.
The Trust Board did not feel that it could, in all conscience, actively vote in favour of selling off our heritage, particularly at this point in the property cycle, but we understand the reasons being given by the Club Board for this move to be deemed necessary. The meeting felt that to vote against the proposal was, however, unhelpful to the Club looking forward, and this resulted in the decision to abstain from voting in the upcoming shareholder meeting.
All Trust members are aware that the Trust Board has tried to engage with the Club over this matter and we will continue to make attempts to ensure that adequate safeguards are put in place.
The Trust Board are now focusing on the season ahead and the challenges that the Club faces to operate on a more stable financial footing. It is clear to us all that the property deal will not, on its own, achieve that. We are actively involved in a number of proposals which will assist in that regard and news of these will be made public as soon as we can.
The Trust Board did not feel that it could, in all conscience, actively vote in favour of selling off our heritage, particularly at this point in the property cycle, but we understand the reasons being given by the Club Board for this move to be deemed necessary. The meeting felt that to vote against the proposal was, however, unhelpful to the Club looking forward, and this resulted in the decision to abstain from voting in the upcoming shareholder meeting.
All Trust members are aware that the Trust Board has tried to engage with the Club over this matter and we will continue to make attempts to ensure that adequate safeguards are put in place.
The Trust Board are now focusing on the season ahead and the challenges that the Club faces to operate on a more stable financial footing. It is clear to us all that the property deal will not, on its own, achieve that. We are actively involved in a number of proposals which will assist in that regard and news of these will be made public as soon as we can.
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2 comments:
Oh for goodness sakes, get off the fence and start looking at some direct action, will you?
'to vote against the proposal was..unhelpful to the club'? Good. It should be. Abstaining is just another example of the JTB rolling over and letting the club tickle their tummies.
We SHOULD be voting against this ridiculous proposal whether or not it ultimately makes a difference to the outcome, because we SHOULD be making clear at every step to the club that this is a ridiculous, desperate and unwanted desecration and mismanagement of Thistle, Firhill and it's support.
'We will continue to make attempts to ensure that adequate safeguards are put in place'
Will you? Really? What guarantee do we have over this? Because all we've seen from the Trust so far is a few half-hearted 'we've tried to talk to the club' comments and a blatant lack of direct action against a board - or specifically a top-hierarchy in the board - who continue to not act in Thistle's best interests.
By taking such a craven, don't rock the boat approach to yet another vandalisation of Firhill, the JTB has proven they're just as culpable in the impending collapse of this football club as the club board itself.
If the JTB decides to abstain, rather than take a direct opposition vote - despite even saying themselves that they cannot support 'selling off our heritage' then they should resign en masse, since they clearly do not have the club's best interests at heart.
Valid points well made. However, the JT Board is a group and not an entity in itself. I'm certain that some members of the JTB who are individual shareholders will vote against the motions at the EGM.
I think the charge of culpability is a bit strong - we may as well blame the fans for not turning up in big enough numbers.
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