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Joe McKenna Resigns

Joe McKenna has resigned from the Board of Wycombe Wanderers Trust. Joe took the decision to do so during the Board's lengthy and difficult deliberations over the proposal to restructure the Club. Chairman David Roberton reluctantly accpeted Joe's decision on Saturday 20th June.

Joe goes with the thanks of his Board colleagues for his work first on the Founders Trust Board, including as its Financial Director, and latterly on the Board of the merged Trust.

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Report on the Information Meeting of Wycombe Wanderers Football Club PLC

On Wednesday 24th June 2009, Wycombe Wanderers Football Club PLC (“the PLC” or “the Club”) held an information meeting at Adams Park to present and discuss certain proposals that were contained in a letter dated 18th June 2009 and addressed to Ordinary and Founder shareholders.

A report on this meeting is now available in Word format. To open the document please click the link below or right click and 'Save As'

Report on the Information Meeting of Wycombe Wanderers Football Club PLC

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Online Voting for Proposed Restructuring of Club

As an alternative to postal voting Trust members may now vote online for the proposed restructing of the club

Click here to access the online voting form

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Letter to Trust Members re: Information Meeting

The following is the text of a letter sent to all Trust members on 19th June 2009

Dear Trust Member

Re: Proposals for Restructuring of the Club

This letter is to advise Trust members of very significant events concerning Wycombe Wanderers Football Club and to notify you of an important Trust information meeting on the evening of Thursday 25th June.

Wycombe Wanderers FC PLC Managing Director, Steve Hayes has made proposals to remove certain rights of holders of Founder Shares. Members will recall that these rights were created at the conversion of the member-owned Football Club to a PLC with the aim of providing protection to the Club and its heritage.

In order to implement the proposals, the PLC has called Extraordinary General Meetings (EGMs) for 6th July at which both Ordinary and Founder shareholders in the PLC will be asked to vote on the proposals. The Trust holds 100,000 Ordinary shares and 152 of the 500 Founder shares in the PLC.

The Trust’s Board will hold an information meeting for Trust members at 7.30pm on Thursday 25th June in the Vere Suite at Adams Park (doors open 7.00pm, bar facilities will be available), at which the details of the proposals and your Board’s views will be presented. There will then be ample time for questions and discussion. In addition to the information meeting, the Trust will publish further information on its website and by email.

We will write again shortly with details of how you can vote on these important issues, to determine how the Trust’s shares are voted.

For the period until the EGM, we will be allowing new members to join, since supporters might want to show support for the Trust at this time. However, for reasons of both practicality and propriety, new members will not be able to vote on how the Trust’s shares should be voted at the EGM.

The letter is also being copied to those Founder Shareholders in the club who are not members of the Trust. These Founder Shareholders are also very welcome to come to the meeting, should they wish to attend.

Yours faithfully

David Roberton
Chairman

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Trust Directors Resign from PLC Board

In view of recent developments and the announcements regarding proposals for the future control and ownership of Wycombe Wanderers Football Club, Ian Mather and David McGee, the two Trust appointed PLC Directors, yesterday morning (Thursday 18th June 2009), both resigned with immediate effect as directors of Wycombe Wanderers PLC.

The resignations were submitted due to the conflict of interest between David and Ian’s roles as directors of Wycombe Wanderers Trust and of Wycombe Wanderers PLC.

David McGee, former Trust Chairman was appointed to the PLC director role during January 2009, following the earlier resignation of Keith Blagbrough. Ian Mather was appointed to the PLC director role in October 2004.

The Trust’s Board of Directors have thanked Ian and David for their hard work during their respective terms of office and support their resignations from the PLC board of directors. In vacating these seats the Trust has not surrendered its right to appoint Directors to the PLC at any point in the future.

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Wycombe Wanderers Trust: Statement on Proposed Restructuring of Club

When Wycombe Wanderers Football Club Ltd was converted to a plc in 2004, the Founders Trust was established and given the responsibility to help ensure the long term future of WWFC, through a number of "enshrined rights”. The Trust Board has the responsibility to provide Trust and Founder shareholder members with a balanced view on any proposed changes to these rights so that the members can make an informed choice.

With regard to the recent proposals from Steve Hayes, David Roberton, Chairman of the Trust said:

"The proposals first outlined to the Trust Board on 2nd June need to be clearly evaluated. These proposals are far-reaching and 122 years of history should not be undone within a few days.

The Trust Board is still considering these proposals and will hold an information meeting on 25th June for Trust members and Founder shareholders. At this meeting, the pros and cons of the proposals will be presented and an opportunity given for debate. This will then give members the opportunity to make an informed choice as to whether or not they should support or reject the proposals in a vote on how the Trust shares should be voted at the EGM."

Notes for editors:

1. Wycombe Wanderers Trust represents supporters of Wycombe Wanderers and seeks to protect the heritage of the Football Club. It holds 100,000 ordinary shares and 152 of the 500 Founder shares. Its 462 members have the right to elect two directors to the Wycombe Wanderers Football Club PLC board.

2. Founder Shares were issued to the 500 former Members of Wycombe Wanderers Football Club Ltd on its conversion to a PLC in the summer of 2004. The current PLC constitution prevents a number of fundamental changes to the Football Club without the support of a majority of Founder shareholders:
- sale or disposal of Adams Park;
- sale or disposal of a substantial part of the PLC’s business, property or assets;
- changing the nature of the PLC’s business from a professional Football Club;
- taking steps to wind up or dissolve the PLC;
- moving business and playing activities of the Football Club more than 5 miles from Adams Park;
- allowing any single shareholder (or “concert party”) to acquire a stake in the PLC greater than 25% of the issued share capital;
- changing the rights attaching to the Founder Shares.

3. Founder shares were issued to the original 500 members of Wycombe Wanderers FC Ltd on its conversion to a PLC in 2004. The Trust inherits lapsed Founder shares, when shareholders cease to have a season ticket or, sadly, die. To date is has inherited 152 of the 500 shares.

4. Wycombe Wanderers Founders Trust and Wycombe Wanderers Supporters Trust merged in 2008 to form Wycombe Wanderers Trust. The combined Trust retained all the rights of the Founders Trust, the two PLC Director roles of the separate Trusts and the shareholdings of the individual organisations.

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Paul Wins Trust March Prize - Now Have the Shirt Off Jamie’s Back

Trust Life member Paul Priestly won the Trust’s March prize draw. Paul’s prize was four premium tickets to a Chairboys home game, a pre-match meal and hospitality on the Hypnos Lounge after the game.

April’s prize is a signed Wanderers' 'keeper's shirt, as worn by Jamie Young. All Trust members are automatically entered into the draw, so why not join before the end of April to have a chance of winning this great prize.

Join up for only £10 a year, at:
http://www.wycombewandererstrust.com/page/membership/

Or e-mail secretary@wwst.org

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