A packed meeting of Everton Shareholders last night – 1st June – overwhelmingly endorsed the demand for an Extraordinary General Meeting of the Club. Shareholder concerns were not resolved by recent Boardroom changes and the appointment of Birch, who only started his new job on the same day. There was particular disappointment that neither Birch nor the new Chairman attended the meeting. If the requisite support is obtained, the Board of the club must call the meeting within 8 weeks. The motion was proposed by Professor Tom Cannon.

We, the undersigned, requisition an EGM of the company in accordance with Article 10.3 of the Articles of Association.  Attached are the requisite number of signatures or letters with signatures supporting this request i.e. members representing not less than one-fifth in number of the members of the company.

Notwithstanding recent changes, the shareholders of Everton FC express their deep concern at the current state of affairs in the Company - in particular the failure of the Board to realise the resources to ensure that the club, which is one of the five most successful (in terms of trophies and other achievements) in England and one of the half dozen best supported (in terms of average gates and wider support), can compete at the highest level and match the achievements of previous generations.
The shareholders therefore call on the Board to:

• Provide a full accounting of the past expenditures and revenue issues which have led to the current situation in which; it is alleged that: we cannot compete for salaries with the likes of Bolton Wanderers; we cannot have any significant funds for signing players and the stadium no longer lives up to either its history as a world class venue or the ambitions of its supporters;
   
• Present to the EGM a strategic plan and related, achievable short, medium and long term policies that will restore the club’s finances, provide resources for team building, stadium development and other related issues;
   
• Show that all those in leadership positions at the Club, notably each individual Director, will commit themselves to use all the means at their disposal to deliver these plans and the related changes;
   
• Ensure that “True Blue Holdings” and its members clarify the nature of its relationship with the Club in particular the extent to proper checks and balances have been set up to ensure that the interests of Everton FC are protected and conflicts of interests between the Club’s interests and those of “True Blue Holdings” and its members are avoided;
   
• Failing that, calls on the current Board to stand aside for a new Board and related appointments which are able to win the full support of the total membership of the Company and the wider support base.

The Everton Shareholders’ Association is the oldest in English football dating back to the 1930s.  The last EGM it convened was while Peter Johnson was Chairman and led to major changes in the club and the eventual sale of his shares by Mr Johnson.

William Ball
Everton Shareholder
2 Jun 2004