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Fans Board Statement re Llambias intention to disband it.


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I have a question however.

 

Llambias and Leach will still have their executive positions even if they are voted out of their directorships at the EGM or acknowledge that beforehand.

 

Can Ashley re-appoint them under the new deal?

 

It depends on the wording of the agreement, but whoever Ashley appoints would presumably be non-execs and kept out the loop.

 

I'm not sure what happens technically about their executive positions but presumably the new directors can remove them easily given the wishes of the shareholders.

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The problem with that is that they could then claim that the RFB doesn't exist if there's no constitution. :hm:

 

Quite so.

 

Or at least it only existed pending ratification and since there was no ratification it doesn't exist.

 

On the other hand de facto it existed because it met and published Minutes and Club directors met with it.

 

However, the RFB can indulge in a bit of sport now but they are collectively pissing in the wind.

 

If the Club don't recognise it, the game's up.

 

I have a feeling this will also suit King who has made it clear he wants to work with the RST & RF.

 

How long till Chris Graham is on the Board?

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It depends on the wording of the agreement, but whoever Ashley appoints would presumably be non-execs and kept out the loop.

 

I'm not sure what happens technically about their executive positions but presumably the new directors can remove them easily given the wishes of the shareholders.

 

Yes, but unless they could be shown to have committed some act of gross misconduct (which might be so in the case of Leach) they would need to be paid off from their executive positions.

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The letter would have been drafted by the lawyers not the CEO and I want a CEO who will take the tough decisions necessary to continue the exercise to balance the budget (and yes that includes incereasing income as well as cutting costs). I have no issue with it being a new CEO if he has the required credentials.

 

I have a question however.

 

Llambias and Leach will still have their executive positions even if they are voted out of their directorships at the EGM or acknowledge that beforehand.

 

Can Ashley re-appoint them under the new deal?

 

That is hardly the point BH. The letter may very well have been drafted from the lawyers but with Llambias' signature on it he is acknowledging its veracity. So now he isn't even reviewing stuff he is being given to sign ? Stuff which would clearly be high profile ? Ignorance is no defence when you are the Officer of a Company I'm afraid.

 

Don't know if Ashley can re-appoint them under the new deal - however, one would have to imagine that if he CAN, he obviously would... but that deal is only relevant until such time as the loan is repaid - one would think that King/T3B would repay that loan post-haste in order to remove the right to appoint.

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Yes, but unless they could be shown to have committed some act of gross misconduct (which might be so in the case of Leach) they would need to be paid off from their executive positions.

 

Why would it only "might be so" in the case of Leach. Llambias could also be in a position of acting in acts of gross misconduct - we just don't know about it yet. One of the first things that King should do is order a complete forensic audit of the Club's books and records, going right back to Chuckles through the present crop of miscreants.

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Don't know if Ashley can re-appoint them under the new deal - however, one would have to imagine that if he CAN, he obviously would... but that deal is only relevant until such time as the loan is repaid - one would think that King/T3B would repay that loan post-haste in order to remove the right to appoint.

 

Didn't King say he would work with Ashley and something along the lines of using his money?

 

If he wants to work with Ashley does that not imply working with Ashley's men?

 

Whilst I have no time for King, there is something quite attractive about having two ruthless businessmen at the helm.

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Why would it only "might be so" in the case of Leach. Llambias could also be in a position of acting in acts of gross misconduct - we just don't know about it yet. One of the first things that King should do is order a complete forensic audit of the Club's books and records, going right back to Chuckles through the present crop of miscreants.

 

Because I don't want to find myself getting a lawyer's letter and nor does this forum.

 

KIng has already said he will be having a forensic audit of the audit of the audit and I got laughed at yesterday when I said L&L will be held to account for any breaches of the companies act; but I'm quite sure they will.

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Didn't King say he would work with Ashley and something along the lines of using his money?

 

If he wants to work with Ashley does that not imply working with Ashley's men?

 

Whilst I have no time for King, there is something quite attractive about having two ruthless businessmen at the helm.

 

It will be closer to "non-execs with no power" than "ruthless businessmen at the helm".

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I have a question however.

 

Llambias and Leach will still have their executive positions even if they are voted out of their directorships at the EGM or acknowledge that beforehand.

 

Can Ashley re-appoint them under the new deal?

 

From memory, SD/MASH's agreement stipulated the right to PROPOSE 2 board members. With the current board, that is as good as Ashley/SD appointing them directly to the board. However, under a new board, it won't be the case. I would be surprised is SD/MASH even bothered trying TBH...

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