Our Questions For The AGM
As you may know Manchester City Plc's AGM is being held at 10am this Thursday 7 December 2006 at the CoMS. All four of us are shareholders and are looking forward to being there. We realise that the meeting is likely to be very busy and that many shareholders will be scrambling to ask questions, so getting the chance to raise any ourselves may prove difficult. We have therefore narrowed our favoured questions to three areas:-
1) Can the board confirm what exactly compromises our Freehold Land & Buildings and also confirm the details of the sale of the Reebok City property? In particular when it was sold, who to, for how much and why this was done? Are there any other plans to sell off further assets in this way?
2) If it wasn't for the sale of Shaun Wight-Phillips the club would have made a significant loss from normal activities and we note that the loan interest due to John Wardle & David Makin continues to be added to their loan balances on an annual basis. What plans have the club put in place to ensure that the club does not have to continue to rely on selling off its best young players to avoid significant losses in the future and start to reduce the loans owing to the club's major shareholders or at least pay the annual loan interest due?
3) The current board have overseen a continued decrease in attendances at the ground that not only contributes to a loss of atmosphere but has an affect on matchday income and may affect the marketability of the club when trying to attract new players and/ or new investors. What does the club think is the cause of this alarming slide and what plans has it put in place to deal with this?
If you were or are a shareholder what sort of questions would you be asking? What concerns you most about the club at the moment?
We'll publish a report of the meeting on here later this week.