I understand that the Celtic Trust was informed late Friday that the Celtic AGM would take place earlier than last year. This was followed by the news today that the deadline for submissions of shareholder resolution is 12noon.
This short notice resulted in an announcement to ALL shareholders (whether Celtic Trust members or not) on the Celtic Trust website that can be read here:
Are you a shareholder? Extremely urgent request for action. – The Celtic Trust
There are two Resolutions that the Trust are now urgently seeking all shareholders to support.
One is a Governance Resolution about both the governance of the club and the competence of its directors. The proposal seeks to ensure that the governance of the PLC is not only of a high standard but is transparently so. The existing mechanisms highlighted in the Annual Report and on the company website are insufficient for that purpose. It is an excellent resolution that should be read in full at the above link.
The other is a Note of Concern Resolution to inform the Celtic Board that shareholders are not satisfied with the responses given to them at the 2019 AGM concerning a Resolution (numbered 12 at that meeting).
They are also not satisfied with the response to the question (asked at that AGM) of whether or not Celtic knew about the 5 Way Agreement. The response from the then CEO, Peter Lawwell, was that Celtic PLC had no such knowledge. Again the full resolution should be read at the link and is worthy of your support.
However, what is not stated for the reasons of brevity, is that the concern arises as a result of shareholders seeing the divergence between what was said at the 2019 AGM in respect of the UEFA licence 2011 and what shareholders representatives had provided Celtic with from 2018 onwards.
What is REALLY urgent now is that Celtic have set a very short deadline to receive the necessary number of completed and signed requisitions forms (100 for each).
ALL shareholders can make this happen following the instruction in the Announcement to either post or scan, and email completed forms to [email protected]
If indeed,the boards attempt to speed the process though, and fend off any possible actions by the Celtic trust,should serve to remind us that they are still attempting to keep it a closed shop,it seems they have learned nothing from any past mistakes and hope to continue ruling the roost unopposed.
I have precious little knowledge of shares…AGM’s……or procedures regarding same.
To my untrained eye however…this looks a shocking way for our Board to go about its business.
It smacks of “dishonesty” and “sharp practice”…and is to be condemned.
If I’ve got it wrong …then apologies…I stand corrected.
But ..and I repeat…to someone not versed in proper procedures…it stinks to high heaven.
I await the outcome with interest.
See when you pull away the mask of respectability in Football all you find is the same old tricks being pulled regardless of Club or Associations.
At some point even the most uninformed Supporters/ Customers are going to realise this is a con and you are the mark.
All the “Believe” and “More Than a Club” hashtags in the world won’t change that.
It’s geis yer dough then get tae.
That aside did you manage to find anything out about that £30m in preference shares that keeps getting reallocated every other year at Celtic since 2010 Phil
Why is there a supposed NECESSITY to keep borrowing £30m every year at the Club?
Statement of capital following an allotment of shares on 31 August 2010
GBP 29,912,852
Statement of capital following an allotment of shares on 31 August 2011
GBP 29,913,990.25
Statement of capital following an allotment of shares on 31 August 2012
GBP 29,913,989.75
(A second filed SH01 was registered on 22/01/2014)
Statement of capital following an allotment of shares on 2 September 2013
GBP 29,916,053.79
Statement of capital following an allotment of shares on 1 September 2014
GBP 29,916,639.26
Statement of capital following an allotment of shares on 1 September 2015
GBP 29,917,140.16
Statement of capital following an allotment of shares on 31 August 2016
GBP 29,917,787.5
2017 Nil*
2018 Nil*
Statement of capital following an allotment of shares on 30 August 2019
GBP 29,919,294.12
Statement of capital following an allotment of shares on 28 August 2020
GBP 29,919,850.96
* Champions League Qualification?
DIVIDEND ON CONVERTIBLE CUMULATIVE PREFERENCE SHARES
A 6% non-equity dividend of £0.53m (2020: £0.51m) was paid on 31 August 2021 to those holders of Convertible Cumulative Preference Shares on the share register at 30 July 2021. A number of shareholders elected to participate in the Company’s scrip dividend reinvestment scheme for the financial year to 30 June 2021. Those shareholders have received new Ordinary Shares in lieu of cash. No dividends were payable or proposed to be payable on the Company’s Ordinary Shares.
Loss per share and diluted loss per share of 13.35p (2020: loss per share of 0.39p) has been calculated by dividing the loss for the period of £12.60m (2020: loss £0.37m) by the weighted average number of Ordinary Shares of 94.4m (2020: 94.3m) in issue during the year. When considering a loss per share scenario, no adjustment is made for the preference share dividend and therefore the diluted loss per share is equal to the basic loss per share. This is the case in the year ended June 2021 and June 2020.
https://s3.eu-west-1.amazonaws.com/gc-media-assets.gc.celticfc.com/01d30650-1b85-11ec-bd4a-c31dbcc46a5e.pdf
It’s almost as if…they don’t want fans asking questions?