Following on from the announcement that we would be calling an EGM on May 30th we would like to clarify the reasons for calling the EGM. We still intend to host a Fans Forum on May 23rd at 7 pm at the club for everyone who wishes to attend and ask questions.
Having revisited the resolutions put forward a decision has been made to amend the resolution that removed the 7.5% maximum shareholding to a new limit of 15%. The amendment was made in time for the EGM to remain on the 30th.
During the last year, the club has relied on the goodwill of many to see it through into its current stable position. Along the way, some long-standing supporters of the club have put in significant sums of money to achieve this. Those supporters are due the shares for the donations made but with the current position of the shareholding they would go over the 7.5% limit and currently, there are not enough shares to satisfy the required amount.
By issuing more shares, the needs are met and those at the point of breaching the limit will have more room to be able to add to their shareholding and continue supporting the club.
We are keen to reiterate that nobody has approached the board to secure a controlling interest in the club and that this exercise to allow growth from within and to allow more flexibility, as we look to establish a sounder financial footing.
We hope this helps to calm any concerns that have been raised over the past few days.
WFC Board of Directors.
