The 2023 AGM was held at 6.15pm on Thursday 12 October at the London Stadium Store and was attended by over 60 Bondholders.
Chair’s Welcome
Martine Bennett opened the meeting and welcomed Bondholders and guests. Martine updated the meeting on the activity of the committee over the last year; it had been a busy year, working on confirming and updating the Bondholder database with the aim of contacting all Bondholders. This work is ongoing and there are still a number of Bondholders yet to be traced. If anyone knows any Bondholder who has not yet confirmed their details, please ask them to contact [email protected].
The database activity has led to a number of Bonds being sold. Prices have risen driven by the Club's success in Europe and this combined with the database activity has resulted in 20 Bonds being sold or transferred in the accounting year, with over 30 already sold in the first six months of this current year.
A change in the sales process is being considered, moving from a waiting list to an auction format or a combination of the two. This is being considered after feedback from the floor.
Lastly, the improved quality of the database has enabled the committee to improve communication with the Bondholder, i.e. through surveys and we the committee will continue to explore thoughts and ideas.
Company Accounts
Tony Barritt presented the company accounts. There had been little activity on the account due to the pandemic and it has been challenging to recover the money in the dormant account held by Barclays. The balance at year end was £2,117.51.
Tony updated the meeting with the news that since the year end Barclays have paid £200 as compensation for the delay in resolving the issue as well as a balance above the £2,117.51 due. The new account is now in operation.
ISC Representative
Steve Applebee updated the meeting of his involvement with the ISC and the introduction of the Premier League's Fan Engagement Standard (FES). As part of the FES the ISC will become the Fan Advisory Board (FAB), with the current ten representatives being joined by International, Women's SB and Junior representatives. Discussions are ongoing and anticipated to be concluded during November 2023.
Committee Elections
Sadly, Brendan Burke, a dedicated and valued committee member for some years, passed away earlier this year.
The attendees voted to accept a motion to elect the nine members of the previous Committee who stood for re-election together with one new Committee member, to represent Bondholders for the next 12 months. The committee members elected were Barbara Adams, Stephen Applebee, Tony Barritt, Martine Bennett, Lloyd Howard, Martin Jessop, Keith Knight, Michael Evans, Mike Lee and Joe O'Sullivan.
Nicola Keye, Director of Ticketing
Martine Bennett introduced Nicola who gave an overview of the experiences of ticketing for European matches over the last year, an insight to future ticketing technology and the challenges of meeting UEFA Finals ticketing regulations whilst maintaining Bondholder rights. Nicola answered a variety of pre-submitted questions and questions from the floor on Bondholder ticketing issues.
Andy Mollett, WHU CFO
Martine ∂Bennett introduced Andy Mollett, the club’s Chief Financial Officer. In answering pre-submitted questions together with those from the audience, Andy covered a wide range of topics including the financial impact of European competition, the forthcoming January Transfer Window, Financial Fair Play, and the process for signing new players.
Steve Potts
Following the more formal business of the evening Joe O'Sullivan introduced Steve Potts. Steve shared a number of stories and experiences from his long playing career and his current role as U21s Coach. Steve answered a variety of pre-submitted questions, together with those from the floor during an entertaining and enlightening Q and A session.
Closing Remarks
Martine, on behalf of the Bondholders and the Executive Committee thanked the Club for hosting the event, together with Club representatives and Steve Potts for an entertaining and informative evening. Steve Potts then drew out two raffle tickets for lucky winners of a signed Men's Shirt and signed Women's Shirt donated by the Club. This was followed by photo opportunities including with the UEFA Europa Conference League Trophy, on display for the evening.