toddyton wrote:Have any of our Trust member posters heard any update on this please?
GMST EGM MinutesWednesday 28th August 2019, 7pm, Royalle ClubGourock.
Eric Border, William Crawley, William Darling, Stuart Duncan, Allan Feeney (chair), Jim Gallagher, Daniel Goodwin, Robert Gowans, Jack Heron, Helen McColl (proxy –Jim McColl), Dr Catriona James, James McEleny, Stephen McEleny, Charles Webster, Laura Wohlgemuth, Claire Melville ProxiesTo Stuart Duncan:George Wall To Chair: Alastair Barron, Alexander McAlees, Brian Mackie, Bryan Purdue, Ewan MacDonald, Gavin Sharp, Laurence Sullivan, Ronnie MacQuien, Ryan Canning, Sean Woodman, Stephen Doherty, Stuart Clark, William Bonnar
Meeting was opened by the chair who gave a background to why the resolutions were proposed then proceeded to read the special resolutions:
1. That the Greenock Morton Supporters Trust should be dissolved.
2. That each member as of (5th August 2019) be given 100 shares in Greenock Morton Football Club.
3. That Loan Note Holders should be recompensed at par to their investment plus interest with the balance of the shares in Greenock Morton Football Club once the members shares have been distributed.
4. That any funds left after the dissolution and associated costs should be passed to the Greenock Morton Community Trust as per the Rules of the Society. 2.
There was an open discussion on the future of the Trust were concerns were raised about the resolutions and counter arguments were made for the resolution. The general consensus was that the Trust has run its course but it would be a shame to disband in case GMFC ever encountered any issues. This led to discussions on how Supporters Trusts now have model rules available and an organisation could be set up a lot more quickly than in previous years.
An amendment was proposed by James McEleny relating to resolution 1. This was that the Trust should continue in its current capacity for 1 more year in its current capacity. The results were: For: 4, Against 25 (inc 14 proxies).
Each of the following resolutions were then voted on: 1. For: 25 (inc 14 proxies), Against 2. For: 29 (inc 14 proxies), Against 3. For: 29 (inc 14 proxies), Against 4. For: 28 (inc 14 proxies), Against 5.
There was a further resolution proposed by James McEleny that in the event that GMFC do not accept the share issue then amendment 2 should be passed. This was agreed on by all (inc 14 proxies).
6. The meeting closed and thanks were given to all past and present members of the GMST board.
1. The chair is to write to GMFC informing them of the decisions and begin the process of share redistribution as per resolutions
2 and 3.
2. The chair is to write to GMST members and Loan Note holders informing them of the distribution of shares and that remaining Trust funds should be passed to the Greenock Morton Community Trust.
3. Relevant steps should be taken to dissolve GMST by the chair following the previous actions.
4. When writing to members and Loan Note Holder, the chair should suggest the formation of a shareholders society. This was discussed by all present and it was agreed that this was a good idea and could form the basis of a future organisation.