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Afc Agm 15/12/14


Guest RosemountRed

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Guest RosemountRed

Expecting a big turn out at this year's AGM.

 

A few big votes, with regards to the refinancing of the club and hopefully some news about a new stadium and training facility.

 

Just thought I'd post up the date in case any shareholders were unaware of the details.

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  • 3 weeks later...

If anyone's there, ask what is meant by 'Debt Free'.

 

Did someone really just give the club the better part of 14 million quid, no strings attached, and it was put towards eliminating that amount of debt?

 

Because that's how it was portrayed in the media, and I don't believe that.

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Aberdeen FC shareholders this evening at the 111th AGM, have unanimously voted in favour of financial restructuring which will wipe out the club’s debt.

Husband and wife Willie and Elaine Donald – who live in Netherley, near Stonehaven, and own civil engineering firm WM Donald – have put up the bulk of the money to reduce the club’s net debt by £14.49m. The Donalds will become major shareholders of the club but have no interest in a presence on the board.

The move means Mr and Mrs Donald will each have a shareholding of around 10%.

As part of the deal to clear the club’s debt, Stewart Milne Group and related parties will have increased their shareholding to around 43% but their voting rights will be restricted to 29.9%.

The Aberdeen FC Community Trust will receive a shareholding of around 9% by way of gift and the shareholdings of existing ordinary shareholders will be diluted by around 55%.

 

 

  • Upvote 2
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Can't be arsed to look for any threads to prove it but can remember saying on here at least a couple of times in the past that I thought Milne would only leave when we are into a new stadium and debt free.

 

Can definitely still see this being the case - even more so now it is a bit closer to reality

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Can't be arsed to look for any threads to prove it but can remember saying on here at least a couple of times in the past that I thought Milne would only leave when we are into a new stadium and debt free.

 

Can definitely still see this being the case - even more so now it is a bit closer to reality

I think he will leave when Jamie Langfield finally does

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