The CST Meeting
A personal opinion from FRIESDORFER about the CST meeting the other night.
The following is my take from the above meeting.
After the recent decision of the Celtic Board to reject the proposal from the Celtic Trust re issuing Shares as the “Added Value” from last season, a meeting was called for 21stJune to discuss and decide next steps, with consideration of some motions from the Trust Membership.
A further point of note was that the Celtic PLC Board had corresponded with the Trust Executive Committee (known as Trustees) some 3 hours prior to the meeting and a synopsis of this is to be published to the Membership once the Trustees have had an opportunity to consider the contents.
At the outset, it was clearly expressed that the Trustees think that the Celtic PLC Board is not fit for purpose, and as a result of the previous exchange regarding the Shares as Added Value proposal, were wholly dissatisfied with the PLC Board’s response which was described variously as inappropriate, dismissive and condescending – I think there may have been other epithets used, but I can’t quite remember… The Trust’s position now is that the ball is firmly in the PLC’s court, and further communications should be initiated by the PLC rather than by the Trust, who are awaiting whatever proposals may be forthcoming from the PLC. The Trust is thus not in current dialogue with the PLC Board.
It was emphasised strongly, though, that the Trust do not envisage having a “War” with the PLC, as the Trust’s focus is to improve and enhance share ownership to increase influence with the PLC/Club ultimately for the benefit of Shareholders/Supporters. There is no appetite to confront the Board – this is considered by the Trustees to be divisive and nugatory across the piece.
Some members, however, believed that it is necessary for leadership to demonstrate that the status quo is not acceptable. The long term aim of increasing share ownership, while admirable, will not result in improved communications without some intermediate steps being taken – by the Trust – to highlight the legitimate concerns of the supporters in general, not only shareholders. How this is realised of course remains to be seen.
From the floor, motions for consideration were as follows:
- That a protest against the Board (not the Team) should be held prior to the home pre-season friendly v Preston North End.
- That a boycott of purchasing any ancillary items (merchandise, food etc) – but not tickets – should be implemented.
- That the Shares Sub-Committee should as a matter of urgency contact high profile/celebrity shareholders to establish whether they will be willing to encourage share ownership generally and also proxy their shares to the Trust – or align with their aims.
All of the above motions were voted on and carried by Trust Members participating in the meeting. How these decisions are to be taken forward/publicised etc is not clear at present, but should become known in the near future.
Another issue raised was in regard to potential funding for provision of legal counsel should this be necessary. This issue is to be discussed separately with the Trustees and no motion was presented formally nor was a vote held on it.
All of the above is my personal recollection, and should not be interpreted as representing my own views on these matters, which may or may not agree with the information relayed.
As I said