Club1872 December minutes

[BEARGER 1,849]

Club 1872 Board Meeting Summary – 2nd December 2016

In attendance – James Blair, William Cowie, Laura Fawkes, Craig Houston, Iain Leiper, Joanne Percival and Alex Wilson

Minutes of the last meeting and Apologies

The minutes of the last meeting were approved. There were no apologies.

Shares

There was no major update on shares. One individual had contacted the organisation in November to discuss selling a small number of shares. The Board decided to assess such offers as and when they arise, and that in assessing such offers careful consideration will also be given to the implications of a potential share issue and the desire to ensure that Club 1872’s shareholding is maintained and increased through that issue. There is currently in excess of £1m available for share purchases. Alex Wilson will continue to liaise with the individual who offered to sell shares.

Discussion then moved on to the AGM vote results, in particular the failure of Resolution 11 and what this would mean for Club 1872. Board members were in agreement that this result was disappointing as it could limit Club 1872’s potential to increase its shareholding. It was agreed that a meeting should be arranged with Stewart Robertson to seek his views post AGM and the Club’s position on when a share issue might arise.

Board members were in agreement that should a share issue be announced, Club 1872 will embark on a dedicated campaign to prepare for the event. This will involve publicity drives, fundraising and increased communication with members. This will be discussed again further to the proposed meeting with Stewart Robertson.

Winding up of the RST

Christine Sommerville, in her role as RST board member, is in the process of transferring RST assets to Club 1872. Due to banking procedures, this is a process that must be done over several transactions. After the change in the name of the Shares CIC is completed, the transfer of the shares currently held through the Buy Rangers scheme and by the RST to the CIC will take place.

Accounts and RF CIC Annual Report

This report is due by 31st March 2017. Willian Cowie is preparing the accounts and Iain Leiper is progressing the CIC report. Iain will send the CIC report to William, who will deal with the submission fee and submit the report and accounts.

Update on Conference Call with Stewart Robertson

Laura Fawkes updated the Board on a Conference Call that took place between herself, Alex Wilson and Stewart Robertson in November. The call involved discussion of the upcoming AGM, with Stewart giving an explanation of Resolution 11 and answering Board members’ questions in relation to whether the RIFC Board had considered concerns from supporters that Club 1872’s share holding may be diluted. Stewart reaffirmed his commitment to maintain a positive relationship with Club 1872 and pointed out that while the Club was not in a position to make any commitments in terms of share offers, the percentage of shares owned by Club 1872 following a share issue could increase or decrease subject to several variables including, the amount of cash being invested by Club 1872, the overall number of shares being issued and the price of the new shares being issued. They were aware of the disappointment that supporters may feel if Club 1872’s shareholding were to be significantly diluted but this is something the Club wishes to avoid if at all possible.

Finances

William Cowie distributed a Financial Report to all Board members. This had previously been emailed to all Board members for their consideration. This report was formally approved at the meeting. Board members agreed that members will be updated regularly on Club 1872 finances.

Board Voting

Iain Leiper had suggested via email that Board members should be able to vote formally via email to avoid confusion about what is general discussion and what is a formal vote. William Cowie asked if the Board could agree this procedure at the meeting. All Board members were in agreement. Formal voting will now take place via email if and when Board members are unable to meet to discuss decisions. However, if any Board member feels that an issue requires a meeting before a vote takes place, the Board will arrange for this to happen. This may involve conference calls and/or the use of Skype.

Staffing and Resources

The Board discussed the current admin workload and how it is being managed. The full-time admin worker is contracted until the end of 2016. Laura Fawkes will liaise with her to assess whether the ongoing task of migrating Rangers First members will be completed by then. The Board noted the possibility that the admin worker may need to be retained but on a part-time basis. Laura Fawkes is also assisting with admin work on a daily basis. The Board noted that discussion may need to take place in the future about how Laura’s workload will be managed during an election campaign and beyond should Laura not stand for election or not be re-elected. Laura will report back to the Board via email following discussions with the other admin workers about workload. The Board will then discuss whether a manager is required, assess costs, etc.

Social Media Policy

Prior to the meeting, a Social Media Policy was prepared by the Social Media sub-group and distributed to Board members for their consideration. At the meeting, all Board members approved the Social Media Policy and agreed to adhere to it.

Some agenda items were not addressed due to time constraints. These included

Membership Drive

Disability sub-group report

Website improvements

RSCs

These issues will be discussed further via email and/or carried over to the next meeting.

The date of the next meeting will be agreed via email.

share this page

[aweebluesoandso 290]

£1M available for share purchases, wow.

[the gunslinger 3,366]

It's doing well as did it's predecessors. This is the success born out of the ashes of green and whyte