Town PLC AGM Tonight - Ipswich Town News
The AGM of Ipswich Town plc takes place this evening in the gym at Portman Road (7.30pm start, doors open at 6.30pm). Since the Marcus Evans takeover last month, the plc owns a 12.5% stake in the club.
Present at the meeting will be Martin Pitcher, who will be Marcus Evans's representative on the plc board, and he, chairman David Sheepshanks and directors Kevin Beeston and Richard Moore are up for election. The plc board is made up of what was the overall club board until the takeover.
Pitcher, who along with Ian Milne and Jonathan Symonds is one of Evans's representatives on the club board, qualified as a chartered accountant with Price Waterhouse in Newcastle-upon-Tyne, working for them in London and New York in their audit and transaction services divisions.
The 40-year-old moved on to the Marcus Evans Group three years ago and is currently their director of corporate development, which means he is responsible for start-ups and acquisitions.
David Sheepshanks will open the meeting with an address to shareholders, followed by a question and answer session. Boss Jim Magilton will also answer questions from the floor.
Town's 2006/07 accounts show that the club made an operating loss of £2.32 million, but after £3.52 million in profit on player sales (including the £2.58 million from the Darren Bent top-up) are brought into consideration the Blues made an overall profit of £174,000.
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