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AGM Week


Footballfirst

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Footballfirst

It's the club's AGM on Tuesday 18th December at 11am in the Gorgie Suite. (doors open at 10am)

 

The business agenda is straightforward

 

1. To adopt the Accounts as the accounts of the Company for the year ended 30 June 2018.
2. To reappoint Thomas Eric Hogg, who retires by rotation, as a director of the Company.
3. To reappoint Craig William Levein, who retires by rotation, as a director of the Company.
4. To reappoint Johnston Carmichael as auditors of the Company, to hold office from the conclusion of the meeting to the conclusion
of the next meeting at which accounts are laid before the Company.
5. To authorise the directors to determine the remuneration of the auditors.
No special business is proposed.

 

I guess there could be some questions on the schedule for completion of the new stand and its funding, but I suspect that there will be more questions about the team's performance and recruitment, for a change. There may also be some questions on the club's approach to unacceptable behaviour, and the contrast between the treatment of home and away fans.

 

==================================================

 

The FOH AGM follows on Wednesday 19th at 6pm. (doors open at 5:15pm)

 

Again the business agenda is straightforward, although we have votes in progress for elections to the FOH board, and the governance proposals

 

1. To consider the Company’s financial accounts for the year ended 30 June 2018, together with the directors’ report.
The directors will present the report and accounts at the Meeting. Members will have received a copy with this notice of meeting.
2. To declare the result of the ballot to elect directors. and the governance proposals.

 

After the conclusion of the AGM a separate General Meeting will follow, seeking to formally adopt the  governance proposals. 

 

In the unlikely event that the FOH membership vote against the proposals, then I don't think that this GM will take place.

 

A reminder for those still to vote on the FOH elections and governance.

Foundation of Hearts @The_FOH

Reminder that if you haven’t already voted on the governance proposals and the board elections, you have until 12.00 noon tomorrow (Monday). Thanks to everyone who has voted so far #createhistory

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Toxteth O'Grady
Just now, davemclaren said:

You can do but it will still get passed. 

Probably but he is wasting our money by signing duds and not getting the best out of the talent he has at his disposal 

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1 minute ago, Toxteth O'Grady said:

Probably but he is wasting our money by signing duds and not getting the best out of the talent he has at his disposal 

Eh, definitely given the voting rights of Ann and FoH. 

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Footballfirst
2 minutes ago, davemclaren said:

You can do but it will still get passed. 

I haven't seen any communication from FOH to the membership asking how they should vote their 35% :whistling:

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1 minute ago, Footballfirst said:

I haven't seen any communication from FOH to the membership asking how they should vote their 35% :whistling:

Would you expect that before every agm? ?

 

Raise it at the FoH agm...on Wednesday. 

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7 minutes ago, Footballfirst said:

I haven't seen any communication from FOH to the membership asking how they should vote their 35% :whistling:

Yes, I wondered about that but presumed they will vote with the current owner. Anything else could cause a bit of a rift in their relationship at the wrong time. 

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20 minutes ago, Footballfirst said:

It's the club's AGM on Tuesday 18th December at 11am in the Gorgie Suite. (doors open at 10am)

 

The business agenda is straightforward

 

1. To adopt the Accounts as the accounts of the Company for the year ended 30 June 2018.
2. To reappoint Thomas Eric Hogg, who retires by rotation, as a director of the Company.
3. To reappoint Craig William Levein, who retires by rotation, as a director of the Company.
4. To reappoint Johnston Carmichael as auditors of the Company, to hold office from the conclusion of the meeting to the conclusion
of the next meeting at which accounts are laid before the Company.
5. To authorise the directors to determine the remuneration of the auditors.
No special business is proposed.

 

I guess there could be some questions on the schedule for completion of the new stand and its funding, but I suspect that there will be more questions about the team's performance and recruitment, for a change. There may also be some questions on the club's approach to unacceptable behaviour, and the contrast between the treatment of home and away fans.

 

==================================================

 

The FOH AGM follows on Wednesday 19th at 6pm. (doors open at 5:15pm)

 

Again the business agenda is straightforward, although we have votes in progress for elections to the FOH board, and the governance proposals

 

1. To consider the Company’s financial accounts for the year ended 30 June 2018, together with the directors’ report.
The directors will present the report and accounts at the Meeting. Members will have received a copy with this notice of meeting.
2. To declare the result of the ballot to elect directors. and the governance proposals.

 

After the conclusion of the AGM a separate General Meeting will follow, seeking to formally adopt the  governance proposals. 

 

In the unlikely event that the FOH membership vote against the proposals, then I don't think that this GM will take place.

 

A reminder for those still to vote on the FOH elections and governance.

Foundation of Hearts @The_FOH

Reminder that if you haven’t already voted on the governance proposals and the board elections, you have until 12.00 noon tomorrow (Monday). Thanks to everyone who has voted so far #createhistory

Would be interesting to hear how much we actually received for Lafferty as well as latest plans for stand. Not expecting much on new player front, too close to window opening and any negotiations likely to be at critical stage so confidentiality will need to be honoured. 

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Footballfirst
1 minute ago, davemclaren said:

Would you expect that before every agm? ?

 

Raise it at the FoH agm...on Wednesday. 

It's an odd situation in governance terms.  I think there is actually a case for doing so, even as a box ticking exercise.

 

FOH has of course said that it doesn't want to interfere with the running of the club, but that only relates to when FOH is the major shareholder and not at the moment when all it holds are voting rights over a minority of the shares (although a significant one).

 

I happen to believe that FOH has gone too far in it's "arms length" approach, which has become more like "hands off". I'm sure that there will be some non day-to-day matters where FOH should be listening to the membership, but may choose not do so because of its approach.

 

 

 

 

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23 minutes ago, Toxteth O'Grady said:

Probably but he is wasting our money by signing duds and not getting the best out of the talent he has at his disposal 

 

Zzzzzz

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Toxteth O'Grady
13 minutes ago, McCrae said:

 

Zzzzzz

Keep sleeping pal - If you wake up in a few weeks we will be in the bottom 6 and out the cup 

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37 minutes ago, Footballfirst said:

It's an odd situation in governance terms.  I think there is actually a case for doing so, even as a box ticking exercise.

 

FOH has of course said that it doesn't want to interfere with the running of the club, but that only relates to when FOH is the major shareholder and not at the moment when all it holds are voting rights over a minority of the shares (although a significant one).

 

I happen to believe that FOH has gone too far in it's "arms length" approach, which has become more like "hands off". I'm sure that there will be some non day-to-day matters where FOH should be listening to the membership, but may choose not do so because of its approach.

 

 

 

 

I think the reality is that FoH will only really 'listen' to its members in terms of who is elected to their board. It will be a representative democracy rather than a direct one. To be fair, given the apparent volatility of some supporters, that's not a bad thing. ?

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What's the turn out like for the AGMs? Haven't been to one but was thinking about going. Might not be able to though-is there still time to cast vote? 

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9 hours ago, Toxteth O'Grady said:

Keep sleeping pal - If you wake up in a few weeks we will be in the bottom 6 and out the cup 

 

The Scottish Cup fixture is over a month away, pal.  Time to stop with the tantrums and support the club.

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Selkirkhmfc1874

Not making AGM this year's because wee man's Christmas play at the school but would expect some questions on Stand being completed, fans being banned and possibly one or two on results

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I attend the AGM every year and they are a really good experience.  The Gorgie Suite is usually fully and there's the opportunity to ask questions directly to anyone of the directors including Craig Levein.

 

I thought Craig would have got it tighter last year on the back of the Cathro disaster, but he put his hands up, took full responsibility and said he'd fix it.  Wonder how it will go this year? 

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1 hour ago, Yoda said:

I attend the AGM every year and they are a really good experience.  The Gorgie Suite is usually fully and there's the opportunity to ask questions directly to anyone of the directors including Craig Levein.

 

I thought Craig would have got it tighter last year on the back of the Cathro disaster, but he put his hands up, took full responsibility and said he'd fix it.  Wonder how it will go this year? 

No doubt he'll save the day by waxing on about the young talent coming through and the great contribution of the country's best supporters......?

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1 hour ago, Yoda said:

I attend the AGM every year and they are a really good experience.  The Gorgie Suite is usually fully and there's the opportunity to ask questions directly to anyone of the directors including Craig Levein.

 

I thought Craig would have got it tighter last year on the back of the Cathro disaster, but he put his hands up, took full responsibility and said he'd fix it.  Wonder how it will go this year? 

Last year's AGM was held just after we had thumped Celtic

4-0.

Therfore the mood was lighter than it would have been a couple weeks previous. 

I expect the shareholders will be looking for answers this time.

It could be interesting.

 

 

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3 hours ago, Yoda said:

I attend the AGM every year and they are a really good experience.  The Gorgie Suite is usually fully and there's the opportunity to ask questions directly to anyone of the directors including Craig Levein.

 

I thought Craig would have got it tighter last year on the back of the Cathro disaster, but he put his hands up, took full responsibility and said he'd fix it.  Wonder how it will go this year? 

 

He pretty much has fixed it.

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Francis Albert

Looking forward to  simple summary of scope and cost variance between the £11m and £18m estimates. What vs the  original estimate has been added (eg the Fans bar) and subtracted (eg a replacement for the Gorgie Suite) with a breakdown of the impact on costs of these changes and of other cost movements. The Finance Director will have this all at his finger tips from previous board presentations.

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11 minutes ago, old school tie said:

Can somebody ask Budge and Levein how much they pay themselves?

Directors emoluments are usually in the accounts anyway. 

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14 hours ago, davemclaren said:

You can do but it will still get passed. 

Indeed it probably will. Just like when the small shareholders were outvoted in Vlad's day.

 

Nothing to do with recent results, but I feel that while it was understandable to have a DoF on the board, someone who is fulfilling the role of manager/head coach shouldn't be.

 

 

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1 hour ago, luckydug said:

We could do with his help ☺

 

He had it pretty much fixed a few weeks ago when we were flying high at the top of the league.

 

Only a blinkered person would deny that injuries have scuppered things, we don't have the finance available to cover such a lengthy injury list.

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1 hour ago, Francis Albert said:

Looking forward to  simple summary of scope and cost variance between the £11m and £18m estimates. What vs the  original estimate has been added (eg the Fans bar) and subtracted (eg a replacement for the Gorgie Suite) with a breakdown of the impact on costs of these changes and of other cost movements. The Finance Director will have this all at his finger tips from previous board presentations.

You obviously were not at them - Finance Director is female. Keep up with things FA! 

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Footballfirst
1 hour ago, old school tie said:

Can somebody ask Budge and Levein how much they pay themselves?

The accounts confirm that the highest paid director received £141k, and that the total received by the two directors who qualified for payment amounted to £221k. (see note 7).

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16 hours ago, Toxteth O'Grady said:

Probably but he is wasting our money by signing duds and not getting the best out of the talent he has at his disposal 

? Gie it a rest!

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7 minutes ago, Footballfirst said:

The accounts confirm that the highest paid director received £141k, and that the total received by the two directors who qualified for payment amounted to £221k. (see note 7).

 

Does CL get paid for being director as well as being manager? 

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Glamorgan Jambo
13 minutes ago, Inch Hearts said:

 

Does CL get paid for being director as well as being manager? 

 

He was aways paid for his DOF role. I highly doubt that they'd split up his salary between what he gets for being coach/DOF and a board director. Besides 140K is way too high for a non executive director even at the largest companies.

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2 minutes ago, Glamorgan Jambo said:

 

He was aways paid for his DOF role. I highly doubt that they'd split up his salary between what he gets for being coach/DOF and a board director. Besides 140K is way too high for a non executive director even at the largest companies.

 

Yeah I understand that part, it would be interesting to see the split. 

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Pasquale for King
16 hours ago, soonbe110 said:

Would be interesting to hear how much we actually received for Lafferty as well as latest plans for stand. Not expecting much on new player front, too close to window opening and any negotiations likely to be at critical stage so confidentiality will need to be honoured. 

They’re not looking at signing anyone so there aren’t any negotiations.

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Pasquale for King
1 hour ago, graygo said:

 

He had it pretty much fixed a few weeks ago when we were flying high at the top of the league.

 

Only a blinkered person would deny that injuries have scuppered things, we don't have the finance available to cover such a lengthy injury list.

Not when we waste money on Sammon, Martin, Mulraney, Amankwaa, Hughes, Maclean, Clare and Wighton we won’t.

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16 hours ago, Toxteth O'Grady said:

Keep sleeping pal - If you wake up in a few weeks we will be in the bottom 6 and out the cup 

 

Outwith Celtic no other club in Scotland  has the squad depth to handle the injuries we have had to deal with.

 

 

 

 

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5 minutes ago, Pasquale for King said:

Not when we waste money on Sammon, Martin, Mulraney, Amankwaa, Hughes, Maclean, Clare and Wighton we won’t.

 

You missed out Edwards. ?

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6 minutes ago, Pasquale for King said:

Not when we waste money on Sammon, Martin, Mulraney, Amankwaa, Hughes, Maclean, Clare and Wighton we won’t.

 

All clubs sign players that you class as wasting money.

 

ps, Clare and Wighton need time, they were not planned for the first team just yet but injuries have forced it.

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2 minutes ago, graygo said:

 

All clubs sign players that you class as wasting money.

 

ps, Clare and Wighton need time, they were not planned for the first team just yet but injuries have forced it.

 

Every signing has an element of risk that's a given however the number of players CL has signed over his tenure in comparison to most clubs is excessive to say the least.

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4 minutes ago, wavydavy said:

 

Every signing has an element of risk that's a given however the number of players CL has signed over his tenure in comparison to most clubs is excessive to say the least.

How excessive in terms of numbers?

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Pasquale for King
4 minutes ago, graygo said:

 

All clubs sign players that you class as wasting money.

 

ps, Clare and Wighton need time, they were not planned for the first team just yet but injuries have forced it.

Time for what? Have you ever seen a guy their age shoe so little at first and go onto to being a great player at Hearts? Maybe we should’ve spent the money on people who could contribute now, Dundee weren’t exactly fending off bids and were after Shankland before we bought him. Clare for all the press talk wasn’t seen as a worthwhile gamble for English clubs that were allegedly interested.

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Pasquale for King
Just now, davemclaren said:

How excessive in terms of numbers?

102 in 4.5 years? How many clubs signed 18 players in the summer to the detriment of their academy graduates who CL was rightly praised for?

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