Just a quick summary of the meeting for anyone interested:
The City Foundation was set up with the aim of attracting 2000 members, but as of November 2011 it only had 260 members who each pay £120/year to be in with a chance of winning £100/week or the monthly £1000 prize. Those that joined before January 2010 ( 210 members ) also had their season ticket prices locked, supposedly for life.
Denis Lee has expressed his concern at the losses the scheme has been making recently that amounted to about £1000 last year and almost £2300 this. Julian Tagg, the current CEO, stated that the club was entitled to close the scheme down, but called this meeting ( to which about 40 members attended ) to discuss the options.
Due to letters being sent out to next seasons prospective season ticket holders at the end of January 2012, it was decided at the meeting, after thorough discussions, to contact the membership with these ( or similar ) options:
1/ Close the scheme down.
2/ Close the scheme down and develop a new, properly drawn up scheme ( possibly giving existing members a 10% annual discount on their season tickets. )
3/ Abstain from voting/let the club decide what to do.
Personally I think the scheme will be completely closed as there will be no viable alternative.