Question about voting system

[Alfie]

As I understand it the vote at the DFCSG will instruct them how to cast their (our)shareholder votes on any subsequent DFC Ltd motion.

Its very unlikely that the DFCSG vote will be 100% for or against - if, say it was 51/49 - either way - are the DFCSG votes all cast for the winning side, or in proportion to the result?

[Mr_Tibbs]

As I understand it the vote at the DFCSG will instruct them how to cast their (our)shareholder votes on any subsequent DFC Ltd motion.

Its very unlikely that the DFCSG vote will be 100% for or against - if, say it was 51/49 - either way - are the DFCSG votes all cast for the winning side, or in proportion to the result?

The DFCSG members vote will determine which way the DFCSG will vote - it can only be one way or the other.

[al_quaker]

Anyone know when the DFCSG vote is going to be?

[super_les_mcjannet]

Friday 26th May.

[al_quaker]

Friday 26th May.

Thanks

[poppyfield]

A bit confused with this part of DFCSG announcement; Can someone explain in layman's terms what this means?

If the members vote in favour of this resolution, the DFCSG board will also seek approval from the members for the DFCSG to acquire additional DFC 1883 Ltd shares so that the DFCSG can maintain a controlling interest (>= 75% of the voting rights) in DFC 1883 Ltd after shares have been issued to Raj Singh. This is required to comply with the rules of the DFCSG. We propose to finance the purchase of these shares by converting some of the Community Share money loaned to DFC 1883 Ltd. by DFCSG into shares. We also propose to loan a proportion of the Boost the Budget contributions made by DFCSG members to DFC 1883 Ltd to replace the Community Share loan converted to shares (the remainder would be passed to DFC 1883 Ltd. as a donation). This is required to ensure that loan repayments from DFC1883 Ltd. are sufficient to cover Community Share repayments when they fall due. Again, DFCSG members will be given the opportunity to vote on this at the SGM.

[lo36789]

Basically if Raj bought £40,000 of shares now it would take DFCSG below the 75% threshold where they hold ultimate control. What they are going to do is simultaneously buy more shares in the club with the receipts of the Boost the Budget so far plus I assume receipts of the £43,000 pitch fund that has been received.

[poppyfield]

Basically if Raj bought £40,000 of shares now it would take DFCSG below the 75% threshold where they hold ultimate control. What they are going to do is simultaneously buy more shares in the club with the receipts of the Boost the Budget so far plus I assume receipts of the £43,000 pitch fund that has been received.

Thanks

[lo36789]

It sounds like some other money has been lent between the to entities as well and DFCSG are converting to shares. Basically though the jist is they are using the vehicles available to ensure that a 75% share of the Football Club is maintained.

[super_les_mcjannet]

My attempt

Some of the community share money given to the club will be turned into shares in DFC, this will reduce the loan to the club but increase DFCSG shareholding.

However DFCSG will then loan some of the Boost the budget to the club which will take the place of the loan turned into shares. This means the loan the club owes DFCSG will cover the community shares owed over the 20 years.

All of this keeps DFCSG above 75% shareholding of the club.

Hope that explains it, if not you're on your own.

[jjljks]

What if I can't get to the SGM but want to vote? How do I get a postal or proxy to vote

[mikkyx]

What if I can't get to the SGM but want to vote? How do I get a postal or proxy to vote

You can appoint a proxy to vote on your behalf by firstly finding someone willing, and then e-mailing the SG to let them know, per the instructions in the e-mail you may or may not have received by now.

[jjljks]

What if I can't get to the SGM but want to vote? How do I get a postal or proxy to vote

You can appoint a proxy to vote on your behalf by firstly finding someone willing, and then e-mailing the SG to let them know, per the instructions in the e-mail you may or may not have received by now.

Cheers!

[Magical Quakers]

Our you are able to send your proxy vote to the Chairman.

You do this by emailing membership@darlingtonfc.org

[Mr_Tibbs]

Our you are able to send your proxy vote to the Chairman.

You do this by emailing membership@darlingtonfc.org

That's correct, I've already sent mine.

The Chair can act as proxy for any number of members. Any other proxy can act on behalf of a maximum of 3 members.

The Membership Secretary is keeping a log of all votes to be cast by the Chair.

In order to get the Chair to cast your vote you'll need to provide your full name and your membership number. It would help with authentication if you send the email from the same address you use to receive DFCSG emails.

Be sure to add a clear instruction such as "I wish to vote against the resolution" in your email