We have been asked exactly what questions have we asked the club following recent developments, below is a schedule of what we sent in.
1. How much is the monthly shortfall having to be made up on a regular basis?
2. Have all potential investors really asked for the same share purchase level of 90%?
3. Have all the motions to be voted on at the EGM been specified by any potential buyers?
4. What is the procedure for approving a buyer?
5. Now that the Chairman has provided the Trust with details of the potential investor is it possible to speak to them first hand prior to the EGM in order to ascertain how far down the line the negotiations are and at what level they would like involvement from the Trust. If it isn’t possible to speak, maybe via a live link then why not?
6. Will the Trust be consulted which way their representative will vote?
7. Will the Trust be afforded the right to see proposed business plans of new investors before a decision to accept an offer is made?
8. If the need for audit is removed, will the accounts provided still include a detailed profit & loss statement?
9. Regarding Special Resolution 5, what is the annual saving from not having the accounts audited?
10. Will the EGM be a poll vote or a show of hands?
11. Who will fund the cash needed from the end of March until the successful buyer takes control, and what time period is the handover of ownership take, once a sale is contractually concluded?
12. How has the National League reacted to the announcement of potential liquidation of the club?
13. Assuming the motions are passed at the EGM how long will it be before all the relevant tests are complete on a major investor?
14. What will happen at the end of March if these tests are not complete?
15. In these circumstances is there any possibility of a points deduction?
16. What can supporters do in order for us to avoid liquidation?
17. Can the Trust shares be converted into new A class shares? If not, why not?
18. What protection against the sale of the stadium/land be in place when a buyer takes over control?
19. Is there a sporting covenant on the ground/surrounding land?
20. Do the board have a preferred bidder identified?
21. Will the purchase funds introduced to the club upon the sale of A class shares to the buyer be used to settle any current director loans?
22. How has the board arrived at the figure of £2m being the amount they are willing to sell the club for, when the asset value is said to be between £4m & £6m?
23. What costs estimated in pounds (£) are the club going to have liability for upon the completion of the sale? i.e. legal, administrative, brokers etc?
24. Under Resolution 2.3, it appears that only class A shareholders will be able to appoint/remove directors. Depending on the attitude of the A share holders to the Trust, it potentially doesn’t look good for Murray. If this should be the case, could the Trust ask to be represented by having a non-executive director on the Board?
25. Please can we confirm that the new class A shares would only be issued in the event of a sale?
26. If the resolution is passed the BOD current loans will not be converted into type A before a deal has been agreed. Only when a deal has been agreed will type A be issued and not before?
27. If the Trust come up with a viable alternative to any or all of motions 1-4 inc., would the board be willing to withdraw their motions in order for the Trust to enter a period of exclusivity in order to get a deal agreed?