EXTRAORDINARY BALLOT | Result of resolutions

Macclesfield Town
Posted:Mon 16 Nov 2020

The Wrexham Supporters Trust Board would like to thank all members who took the time to vote and take part in the process relating to the Extraordinary Ballot. There was a significant turnout for the ballot at 91.5%.

We are now in a position to confirm the result of the vote, which has been independently verified by Mi-Voice, the company assisting the Trust in the process. As can be seen in full detail below, members have voted FOR all three resolutions.

As such – subject to final agreement, league and FA confirmation – the RR McReynolds Company, LLC will take 100% control of Wrexham Football Club Limited from the WST.

Both parties will now proceed with finalising the details of the takeover, and we will update Wrexham supporters as soon as we can.

The Wrexham Supporters Trust Board would like to thank Mr Rob McElhenney and Mr Ryan Reynolds, and their advisors Inner Circle Sports and Walker Morris, for their professional and considered approach and for the time they have already put into the process.

As Wrexham supporters, we would like to wish them the very best of luck in charge of our Football Club and look forward to what the future brings.

We would also like to thank our advisors, Sheridans, Mackenzie Jones, BDO and Rob Parry, for their assistance throughout the process.

Finally, to WST members, we would like to thank you for all your support since we took control of the Football Club in 2011.

We will update supporters in due course as to the future plans for the Wrexham Supporters Trust.

The Board of the Wrexham Supporters Trust

WST Extraordinary Ballot: Result of resolutions

Resolution 1

THAT the Rules be amended by adding a new Rule 4.7 as follows: “promoting and supporting the long term future of the Club which shall include a transaction to sell the entire issued share capital of the Club to new owners resulting in the Society ceasing to own or operate the Club provided that the members have approved the sale by extraordinary resolution (a “Members Approved Sale”), and in the event of a Members Approved Sale, the object at this Rule 4.7 shall take precedence and prevail over the objects at Rules 4.1 to 4.6 so that a Members Approved Sale shall be permitted by the Society’s objects and be in accordance with the Rules notwithstanding any inconsistency or conflict with the objects at Rules 4.1 to 4.6”;

For: 1809

Against: 26

Abstain: 9

98.6% voted in favour, Resolution passed

 

Resolution 2

THAT the Proposed Transaction is hereby irrevocably and unconditionally approved, and that this approval of the Proposed Transaction shall constitute a Members Approved Sale pursuant to Rule 4.7 (subject to the passing of Resolution 1 in the Postal Ballot and the amended Rules taking effect upon being registered);

For: 1801

Against: 29

Abstain: 11

98.4% voted in favour, Resolution passed

 

Resolution 3

THAT the board of directors of the Society is hereby authorised to conclude the Proposed Transaction on the basis that it is a Members Approved Sale (subject to the passing of Resolution 2 in the Postal Ballot) and does not require any further approval or consent of the Members, and that the Society Board are hereby authorised to enter into the sale documentation as required (at the discretion of the board of directors and including but not limited to a share purchase agreement to sell the shares of the Club to the buyer) on behalf of the Society and to carry out all such acts as necessary in connection with implementing the Proposed Transaction.

For: 1801

Against: 29

Abstain: 11

98.4% voted in favour, Resolution passed

Please note – there were five spoilt ballot papers.

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