Everton Shareholders Association appeal to Kenwright (Liverpool Echo)

[BoysInBlue]

http://www.liverpoolecho.co.uk/spor...hareholders-association-appeal-bill-10827696?

Association say Everton refusing to "meet or engage" with them on unanswered General Meeting questions

Everton’s Shareholders Association have made a direct plea to chairman Bill Kenwright amid fears of a communication breakdown with the club.

EFCSA issued a statement in which they say the Blues have refused to “meet or engage” with them over unanswered questions from November’s General Meeting .

The Association released a list of 41 questions they hoped would be answered before or during the General Meeting.

Everton would not answer a number of questions of the list, with chief executive Robert Elstone, on the night, describing them as “disappointing”.

The Blues declined to comment on the issue but the ECHO understands the club’s position is that they informed EFCSA, prior to the General Meeting, certain questions would not be answered.

Everton, it is believed, also feel that the number of shareholders who submitted questions was unrepresentative of the shareholding.

And they feel the presentation on the night was thorough and open.

But in a bid to keep the lines of communication open, EFCSA have gone to the Everton chairman in the hope of finding a resolution.

EFCSA chairman John Blain said: “The Club, through the chief executive, have basically said to us that they are not going to answer any more questions from the AGM and are not going to have any meeting with us.

"It is why we have escalated to the board and it is not a good state of affairs when they refuse to talk to the shareholders.”

He added: “Bill is the most approachable guy you can think of and we would’ve gone to him a lot sooner but, as we understand it, he has not been in the best of health.

“We have not been able to speak to Bill because he was not in his office but his PA is aware we want to meet with him.

“We have also written to Bill. We are doing what we can.”

An excerpt from EFCSA’s statement read: “Since the latest Annual General Meeting the Association has initiated dialogue with the Club on numerous occasions via letter, email and telephone.

"We have attempted to find common ground with an underlying objective of getting answers to the questions that were asked in good faith by Shareholders. The Club has refused to meet or engage with the Association.”

To read the full statement online, go to the following:http://www.efcsa.org/2016/01/29/efc-2015-agm-the-questions-update-2/

If the club have nothing to hide, they should just answer the questions and be done with it. End of.

 

[The Esk]

I'm not defending how the questions were answered (those that were) and the vast majority that were not at the AGM, nor the exlanation at the time for not answering, but if there is an exclusive due diligence process the CEO as a member of the Board is unable to answer those questions and probably unlikely to explain why he cannot answer during the due diligence process.

 

[BoysInBlue]

I'm not defending how the questions were answered (those that were) and the vast majority that were not at the AGM, nor the exlanation at the time for not answering, but if there is an exclusive due diligence process the CEO as a member of the Board is unable to answer those questions and probably unlikely to explain why he cannot answer during the due diligence process.

Then he should just tell them that, out of common courtesy, instead of blanking them.

Everton's current stance of ignoring the Shareholders can simply not be defended or justified.

 

[The Esk]

Then he should just tell them that, out of common courtesy, instead of blanking them.

I hope the reason he is not saying that is that that is an admission that there's DD/a takeover in the offering. I hope it's a case of the lawyers being ultra-cautious rather than a deliberate policy to ignore the EFCSA.

 

[BoysInBlue]

I hope the reason he is not saying that is that that is an admission that there's DD/a takeover in the offering. I hope it's a case of the lawyers being ultra-cautious rather than a deliberate policy to ignore the EFCSA.

He didn't help himself with his arrogant put down of the questions at the AGM.

Not sure why EFC can't publicly confirm that they're in a period of due diligence. They don't have to publicly say who with, just the fact it's happening would be enough.

The whole 'secretive' thing permeates through the entire club - can't answer questions, can't tell us if there's something going on, can't tell us if certain people are involved with the club or why they're involved with the club.

 

[The Esk]

He didn't help himself with his arrogant put down of the questions at the AGM.

Not sure why EFC can't publicly confirm that they're in a period of due diligence. They don't have to publicly say who with, just the fact it's happening would be enough.

The whole 'secretive' thing permeates through the entire club - can't answer questions, can't tell us if there's something going on, can't tell us if certain people are involved with the club or why they're involved with the club.

I agree re the AGM.

I agree re notifying they're in due diligence, however if the prospective buyer asks for no disclosure and is considered a serious buyer, most sellers will agree. The problem with Everton is that their past behaviour feeds suspicions, but also it must be remembered it is a private company, albeit in the public domain, and has no duty whatsoever to disclose any possible takeover activity.

 

[MrGrumpy]

Also depends what the questions are...

Where the Arteta money, would be one
Are you robbing the club blind, I think was also one

 

[joey_macmo]

The issue here began well before the possible DD that is taking place.

They assured the SA that they would answer the questions then 4 days later at the AGM they reversed their position.

The club said that future communication with the SA has been affected by the questions, they also agreed to a meeting about 4 weeks ago.

It is between then and mid January that I believe DD probably began judging by the SA timeline.

It's the deceit around the AGM that is the problem imo

 

[kithnou]

Poor form if you ask me. The man has his own battles he is fighting right now. Respect a fellow Blue's health issues and show some class.

 

[ilikecheese]

I thought a bunch of those questions were completely counterproductive.

I'm glad they didn't answer them.

 

[Bob Elstone]

Remember lads, nothing is off limits as far as this club is concerned - Suntan said so.

 

[Bob Elstone]

Poor form if you ask me. The man has his own battles he is fighting right now. Respect a fellow Blue's health issues and show some class.

Surely that's why there is a chain of command and protocols to follow?

Elstone and co's behaviour and refusal to communicate is the reason for this. The Shareholders have money invested and every right to find out what in God's name is going on with their investments.

Rudderless leadership for 16 plus years...

 

[degsy]

I hope the reason he is not saying that is that that is an admission that there's DD/a takeover in the offering. I hope it's a case of the lawyers being ultra-cautious rather than a deliberate policy to ignore the EFCSA.

Both.
Ignore being the default
Lawyers option 2

end of Jan
Window done and dusted

or is it no news is good news - as they haven't actually said 'how much?; 'Koff.'

 

[kithnou]

Surely that's why there is a chain of command and protocols to follow?

Elstone and co's behaviour and refusal to communicate is the reason for this. The Shareholders have money invested and every right to find out what in God's name is going on with their investments.

Rudderless leadership for 16 plus years...

The man is sick. Word around the traps is he is very very sick. He is unable to attend a game to watch his beloved football club and we hear he watches from his sick bed.
Some things are more important than a bunch of yobs hassling him because they "have money invested and every right to find out what in God's name is going on with their investments."
Poor timing. No class. Completely disrespectful to a fellow Blue and hs family.
Don't make me go on any further please...

 

[Bob Elstone]

The man is sick. Word around the traps is he is very very sick. He is unable to attend a game to watch his beloved football club and we hear he watches from his sick bed.
Some things are more important than a bunch of yobs hassling him because they "have money invested and every right to find out what in God's name is going on with their investments."
Poor timing. No class. Completely disrespectful to a fellow Blue and hs family.
Don't make me go on any further please...

Yobs? Who said they were yobs? Maybe they've invested hard earned money into the business and want to know what's happening with the rudderless ship. They've tried to engage the appropriate people and get no response.