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Cook, Ashton and O'Leary to Attend PLC EGM
Tuesday, 20th Jul 2021 17:38

The Ipswich Town PLC, which continues to own 12.5 per cent of the club following the takeover, is holding an Extraordinary General Meeting at Portman Road on Monday 2nd August where manager Paul Cook, CEO Mark Ashton and chairman Mike O’Leary will answer questions from shareholders.

The usual Annual General Meeting (AGM) was unable to take place towards the end of 2020 due to the pandemic and plans to hold an EGM this summer in its stead were announced in March.

PLC chairman Roger Finbow said in an email to shareholders: “With restrictions being eased from 19th July I am pleased to be able to invite you to an Extraordinary General Meeting of Ipswich Town PLC to be held on Monday 2nd August at 7.30pm in the Sir Bobby Robson Suite.

“There will be no formal business to consider; this will simply be an opportunity to hear from and ask questions of the manager, chief executive and chairman of the club.”

Only PLC shareholders or their proxies are able to attend the EGM, however, the club will be streaming it via its YouTube channel.

In May, new Blues co-owner Mark Detmer told TWTD/Blue Monday that he is delighted that the PLC had opted to maintain its stake in the club.

Ipswich Town PLC represents the shareholding of the club prior to Marcus Evans’s 2007 takeover with the majority of those owning the shares - who number around 3,500 - supporters who bought them as the club sought to raise cash following the 2003 period in administration.

It has a 12.5 per cent stake in the club with Gamechanger 20 Ltd owning the other 87.5 per cent.

“We’re thrilled that they stayed in,” Detmer said. “They had an option, a tag along, and we had lots of conversations about what that may or may not look like and we’re thrilled that they wanted to stay in for this journey with us, to come along. Because what is a club without its fans, without its community?

“That’s what we take so seriously in all this. We are a representative of the community in the way that we handle ourselves, the way that we treat others, the way that we commit to the project and the club’s performance overall. We were thrilled that the community wanted to stay in as our partners.”


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itsonlyme added 17:47 - Jul 20
Think I might go to this one. Should be really really interesting. Looking forward to hearing the hosts spell out the future.

TheJam added 17:52 - Jul 20
Thought Evans kept 5% ?

Blocker123 added 18:34 - Jul 20
I remember buying some shares back then. Anyone know if I can clarify that, as don’t know what I’ve done with the certificate.

blues1 added 18:41 - Jul 20
The jam. Yes he did. His 5% is included in the 87.5% figure.

Realist added 19:23 - Jul 20
The Jam. Evans owns 5% of Gamechanger 20 Ltd, so in effect owns 5% of 87.5% of ITFC. Which means he owns 4.38% of ITFC. He also owns the piece of the training ground that lies between Bucklesham Rd and Bent Lane.

WeWereZombies added 21:03 - Jul 20
@Blocker123 Contact the Club's finance director, I have found him very helpful in the past.

Blocker123 added 22:25 - Jul 20
WeWereZombies… Cheers Matie!👍🏻

BotesdaleBlue added 07:17 - Jul 21
It's ironic to think that Marcus Evans still owns a greater percentage of shares in the club than any other individual. As I understand it, the "Three lions" collectively own 5% of Gamechanger, so ME's shareholding is greater than theirs is individually. And surely no individual in the 3500 supporters who hold 12.5% of PLC shares owns more Evans's 5%. The remaining 90% of shares of Gamechanger is held by a "corporate" body, so Evans has the greatest percentage of shares as an individual I believe.

However all this is totally irrelevant as he no longer has any executive power or involvement in running the club, but is still a rather weird situation.

As a final thought, when the takeover was announced I actually took comfort from ME's retained 5% shareholding as it showed he had confidence in the new management set up. If he felt the new owners were anything else than potentially excellent owners, surely he would have cut and run totally, rather than wantingto keep a significant link and investment into our future.

bluediver added 08:25 - Jul 21
@Blocker123 the information as to who is a shareholder in the PLC should be filed at Companies House annually and visible to the public. Go here - and look at the Confirmation Statement filed in Sept 2020. A list of shareholders in the PLC appaears to be in the 50 pages of that document. Hope that helps.....

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