The Trust has asked that the
following questions be answered at the PLC AGM on 4th December
2008.
The Trust will report on the answered received in due course.
Questions re the Report and Financial Statements to 30th June 2008
1. What additional guarantees have been given to the auditors to avoid the need to qualify the accounts in any way?
2. The Chairman's report gives
a projection of the financial loss for 2008/09 as being in the
region of one million pounds.
In the light of the current UK downturn, is this still the projected
loss?
3. The projected loss of one
million pounds represented a significant change to the loss of
£1.7 million incurred in 2007/08.
What are the specific revenue and cost saving opportunities that
give rise to an opportunity to make such a large difference?
4. Will additional loan notes from Mr. Hayes fund any cash loss this financial year?
5. A resolution before the AGM invites members to elect Mr. Pelley as a director of the Company:
5.1 What are the specific projects to which it is hoped Mr. Pelley will contribute?
5.2 What are Mr. Pelley's qualifications
or experience that make him particularly
suitable for these specific projects?
5.3 Will Mr. Pelley receive any remuneration for his duties at Wycombe Wanderers?
5.4 Does Mr. Pelley vote on PLC Board matters?
6. The financial statements
refer to an agreement between Mr. Beeks, Mr. Kane and Mr. Hayes,
under which none of the loans can be repaid without all three
directors being in agreement.
6.1 Does the agreement cover all loan notes to date together with
those anticipated to be issued in financial year 2008/09?
6.2 Is there any specified end date to the period of the agreement
and, if so, what is that date?
6.3 Is there any limitation to the agreement's scope with respect
to loan notes over a certain total and, if so, what is that total?
6.4 What happens to the agreement in the event that either Mr.
Beeks or Mr. Kane were no longer directors of the Club?
7. Was Mr. Hayes correctly reported in the Bucks Free Press on 14th November 2008 as wishing to convert his loan notes, of which £5.8 million are shown in the accounts as outstanding as at 30th June 2008, into shares?
8. Does the Board of Wycombe Wanderers Football Club PLC support the removal of the 25% limit on the holding by any one individual of the PLC's Ordinary Shares, of which £3,999,500 are shown in the accounts as authorised as at 30th June 2008 and, if so, will the Board of Wycombe Wanderers Football Club PLC be placing specific proposals before Ordinary and Founder Shareholders to remove this limit?
9. What is the current status of the possible development of a new stadium as referred to in the Chairman's report?
10. Does the PLC Board believe that it possible to breakeven at Adams Park?
11. Is there a significant financial advantage, relative to staying at Adams Park, in moving to a new stadium?
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Report
and advice on Wycombe Wanderers Football Club PLC Annual Report and Financial Statements to 30th June 2008 together with the Trusts' Boards recommendations regarding the resolutions that are to be voted upon at the AGM |
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