| •ANNUAL GENERAL MEETING |
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Wednesday 31 May 2006 at 8pm United Services Club, Crook Street, Chester The meeting commenced at 8.15pm, once the requisite number of members were present. The meeting opened with the Chair, Campbell Smith outlining the agenda: 2. Ratification of board member candidates in the absence of challenging members.48 3. Presentation of accounts for the financial year ending November 2005 and Auditors report.48 4. Appointment of 2005 Auditor.48 5. Trust Shareholding and resolution.48
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| 1. | Chairman's Annual Report |
| Campbell Smith outlined his report which he had distributed amongst the attending members. A copy of the report is available by clicking here48 | |
| 2. | Ratification of board member candidates in the absence of challenging members |
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Five members stood for election to the Trust Board
and there were five vacancies. Accordingly, only ratification of those standing
was required as opposed to a full election. Colin Mansley and Pauline Meakins
sought re-election and Nathan Auty, Paul Reid and Adrian Williamson all put
their names forward.
All were unanimously ratified to join the Trust Board. |
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| 3. | Presentation of audited accounts for the financial year ending November 2005 and Auditors report. |
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Lee Walton, as treasurer gave an explanation of the
audited accounts that had been distributed. There had been some typographical
errors concerning the 2004 data comparable figures. The correct figures had been
supplied by the auditor however this was not in time for printing. Lee relayed
the correct figures to the floor.
These accounts had been prepared by Guy Walmsley & Co., Chartered Accountants and Registered Auditors. A copy of the accounts is available to any trust member by sending a request by e-mail48 The accounts were accepted by the members present as being accurate and fit for submission to the Financial Services Authority. A number of questions were raised during the course of this agenda item both in relation to the accounting/auditing processes used by the Trust and other issues. The audit/accounts processes employed by the Trust are in accordance with a) the requirement made by Supporters Direct (our umbrella organisation) that to be a member trust, we have a professional audit and b) our own rules stipulate it. The discussion went away from the agenda topic and strayed to the Supporter Director on the board of Chester City Football Club, a position which had been vacant since the departure of Richard Lynes. The Chair made it clear that Stephen Vaughan had previously agreed to allowing the Trust to exercise its right to appointing a director of the Trust Board's choosing However, a number of reasons existed as to why the board had not exercised the right. A lack of willing volunteers to take on the role and the fear of the liability of the director in the event of the worst occurring being the major concerns. Members discussed the issues and Richard Lynes gave his input. |
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| 4. | Appointment of 2006 Auditor |
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The members present were asked to consider the
continued usage of Guy Walmsley & Co. as the auditors for the Trust for the
financial year ending November 2006. It was carried that they should continue. |
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| 5. | The Trust Shareholding |
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A lively and at times passionate debate was held
in connection with the issue of the Trusts shareholding in Chester City Football
Club. The chair outlined the reason for the agenda item which can be found within his report. In accordance with the advice received from our solicitors, the board had concluded that the matter must be debated by the AGM and indeed any disposal like this must be voted upon at the AGM to meet the requirements of the constitution. A number of opinions were stated in the debate and representations were made for and against the hand back of a proportion of shares that the Trust had failed to raise sufficient funds over its 5 year life span. At the conclusion of the debate a vote was taken. The results were that 9 persons present and 17 proxy returns (26 total) voted that the shareholding in question should be returned to Stephen Vaughan. 7 persons present and 2 proxy returns (9 total) voted that the Trust refuse to hand back the shareholding in question. 3 persons present and 1 proxy return (4 total) chose to abstain on the matter. The resolution was therefore carried and the Trust Board will now arrange for a share transfer certificate to be duly completed. |
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| 6. | Any Other Business |
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Adrian Williamson asked if there was scope for the Trust and the other representative bodies to work closer together, there was a broad agreement that this should be explored given that the fanbase was so small at Chester City, not all were favourable and some gave a luke warm response. |
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