As we are approaching the AGM, albeit a virtual one, I wanted to share with you a few of the topics we will be covering and encourage you to read the documents you have received. We did ask for people to register their attendance by tonight, so please let Michelle know if you are able to make it ASAP.
Topics we will cover on the night:
- Chairpersons update on all matters relating to the club
- Don to provide our Financial report for the year ending March 2020
- Electing our officers (President, Chairperson, Hon. Secretary and Treasurer) and other Directors of the club
- Lastly a vote on the proposed amendment to our Articles of Association. This is an important amendment and requires our members to decide on the night if they wish to approve it. I have received a couple of queries from people not understanding what we are proposing and hence below I provide a little context to help (hopefully!)
During this past year we identified an item in our Articles which placed a restriction on the amount of monies we were able to pay players. This restriction (c. £10k) is less than the amount we intended to pay players this year (c.£30k).
When the TWRFC Limited company was first set up (several years ago) the then Directors thought they would structure the Company as a CASC (Community Amateur Sports Club) and hence inserted wording into our articles to ensure we complied with the CASC guidelines on player payments. The Directors subsequently decided to not structure the Company as a CASC and not be bound by its restrictions. However, the articles were not amended to reflect this and we now wish to update the articles in line with our present practices.
Irrespective of this history the club Membership has a decision to make. In the Board’s opinion, the club will only be able to sustain competing at level 5 if not constrained by the existing wording in our articles of association. This requires a change of the club’s articles by the special resolution proposed.
Members should read the proposed amendment, which the Board have considered, where we recommend we amend our articles to align with RFU guidelines on player payments
Any questions, please feel free to email me or ask on the night.
I look forward to seeing you on the night, providing an update on the Club and taking any questions you may have.