All members should now have received notice of the Special General Meeting taking place on January 13th (next Tuesday) to vote on continuing with the 1876 Club or accepting the club's offer to merge into the Centenary Fund. We hope as many of you as possible will attend or appoint a proxy to vote at this meeting, which has a great bearing on the future direction of the Trust. The issue is being debated at www.jagsforum.net and we are happy to try to answer any questions both before the meeting and on the night to help members make their minds up on this question.
Here is the text of the formal notice, for anyone who may have missed it:
Dear Member,
Formal Notice of Special General Meeting
You may have seen a recent announcement from Eddie Prentice, the Chief Executive of Partick Thistle Football Club about the creation of a Centenary Fund, or received a written notice about this if you are a Season Ticket holder.
The club has expressed a preference to launch this scheme with the support and active involvement of the JagsTrust. As a consequence, the Trust Board established a Working Group to work out a basis on which this might take place working with the club board, principally Chief Executive Eddie Prentice and Director David Beattie.
The Working Group has now completed its work and has reported to the Trust Board who will be considering the results of this as a matter of priority over the next couple of weeks. As this is such a significant step for the Trust it is a decision which requires to be made with the full involvement of the members. As such, you are invited to attend a Special General Meeting which will take place on Tuesday 13 January 2009 at 1930hrs in the Aitken Suite at Firhill.
The key element to be considered involves the merging of the 1876 Club into the Centenary Fund. Should the Trust agree that this should be the case, then the club have agreed that;-
1. The requirement for the JagsTrust to take out a Thistle Partners Package at a cost of £5,000 per annum for their place on the board of the football club will be waived in consideration of the members of the 1876 Club agreeing to migrate their subscriptions to the Centenary Fund.
2. For existing members of the 1876 Club who migrate to the Centenary Fund, shares will be issued to the JagsTrust equivalent to monies paid in the first year of operation.
3. For new members who join the Centenary Fund via the JagsTrust, additional shares will be issued based on the amounts paid in the first year of membership. The Club are happy to make it as easy as possible for new members to indicate that they wish to support the JagsTrust when joining the Centenary Fund thus assisting our ability to generate additional shares from this route.
4. The Club will make available without charge 24 hospitality places per season for the JagsTrust to do so as they wish as a means of raising funds, only provided that these are not auctioned or sold directly at a discount over what the club would normally charge.
5. The Club will review the possibility of appointing a second board representative from the JagsTrust in 2010 and have confirmed that in principle they are prepared to appoint anyone to the board of the club who can add value without the necessity of a cash injection.
6. The Club will pay for the mailings from the Trust to its members in the calling of the Special General Meeting and a subsequent mailing with details of the Centenary Club by covering postage costs
As noted above, the Trust Board will be considering these matters and will present the proposal to the General Meeting for debate and ultimate decision. It will also be our intention to consult with those members who are already members of the 1876 Club to allow their views to be shared at the meeting.
If you are unable to attend the meeting, it will be possible to appoint a proxy to attend and vote on your behalf. Please contact me by e-mail at secretary@jagstrust.com, or phone me on 07789 030527 if you wish to pursue this option.
Finally, only full members of the Trust will be able to vote at this meeting. If you have not yet paid your subscription for the current year you will not be allowed to vote. We will be able to accept monies on the night of the meeting.
Yours faithfully
Allan Heron
Secretary
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