Investment Proposal - Trust ballot

Hants_red

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May 27, 2007
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NE Hants
Just received this on email

In accordance with rule 46 of our constitution this letter provides 14 days’ notice to you of a member’s postal ballot. A copy of the constitution can be found here. The ballot will be conducted by electronic voting where possible. If no email address is held for a qualifying member a postal ballot will be provided, along with this documentation.

We will be asking you to vote on two issues pertaining to a proposed redevelopment of the accommodation at the Clifford Hill Training Ground.

Under the terms of the Club/Trust Agreement (the CTA), a copy of which can be found here, the club are required to obtain Trust consent prior to entering contracts above the value of £50k. The value of this particular contract is £2.2m and therefore falls within this requirement. Given the exceptional amount the Trust Board, whilst supporting this proposal, feel it appropriate to seek member approval.

In addition to this, the club have also requested that we, the Trust, make available to the club a loan of up to £600k and so again, we seek our members approval to do so.

Four suppliers were invited to tender for the works and three responded. The preferred supplier is Enviro Building Solutions Limited (Modular Building Manufacturer | Enviro Building Solutions Ltd).

The full proposals plus supporting information, plus construction plans, are included in this document. Further, we would invite you to a Trust forum, to be held at the Phoenix Centre, commencing 11am on 23 rd October, to make any comments or ask questions. If you are unable to attend or would prefer earlier contact, please e-mail:
[email protected] (We’ll get back to you as quickly as we are able.)

The two proposals will be as follows:
1. Under the terms of the Club Trust Agreement (2,vii) Exeter City AFC Limited will enter into a contract for the redevelopment of the Clifford Hill Training Ground accommodation with Enviro Building Solutions Limited, as detailed in the documentation made available to me.

2. That the Exeter City AFC Supporters Society Limited, make available to Exeter City AFC Limited, a loan up to the value of £600k. Such a loan, if requested, would be repayable over 4 years in quarterly instalments and, at the Trust discretion, interest may be charge on this loan at a rate based on the consumer price index +1%.

The outcome of this ballot will be determined by a simple majority of 50% +1 of the votes cast and the result announced at 4pm on 28th October 2021 at St James Park.

Kindest regards,

Nick Hawker, Trust Board Chair
Investment Proposal for the Cliff Hill Training Ground​
 
Joined
Nov 17, 2015
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461
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Exeter
Think I’ll be backing, we’ve desperately needed work on the facilities at the C&F for years.

Not going to lie though, thought we had more money in the bank than that. If I’m reading it correctly, we’d be in the negative after the in July after paying out £1.4m. But the last Watkins payment in August takes us back into the positive with a remaining 800k to pay.
I assume these numbers take in account Randall’s fee from the summer?
 

Alistair20000

Very well known Exeweb poster
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May 5, 2009
Messages
40,206
Location
Hunkered down
I will be backing this wholeheartedly. A great investment in our future as a viable football club. I believe the existing buildings are circa 47 years old and were never built for that length of service.

It's a no brainer for me.
In principle yes.

There may be devil in the detail.
 

David Treharne

Active member
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Apr 1, 2004
Messages
3,239
Location
Exeter, Devon
In principle yes. There may be devil in the detail.
I agree. However, it is commendable that the Trust Board feel that it's worthy of discussion at a special meeting (and gives those not able to attend an opportunity to contribute) and that Trust members get an opportunity to contribute. Also adds plus to the value of being a Trust member. I agree with Student Grecian about the age of the building. Julian Tagg might not be pleased to be reminded that he himself used those facilities when it was home to St Lukes's College FC
 

Pete Martin (CTID)

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Joined
Apr 1, 2004
Messages
10,562
Location
King's Landing
In principle yes.

There may be devil in the detail.
There were many devils in the detail of the 'new' (now almost 3 years old) grandstand and it nearly didn't happen (I know as I was involved at the time), but I watched a great team of people see it through and I am fairly confident this will be the same.
 
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