The Importance Of Being Resolute

There is a myth that appears from time to time that the Celtic Board cannot be held accountable at all and that at AGMs any resolution not of the Boards making will always be outvoted because of the high number of shares held by a few shareholders, Dermott Desmond in particular.

Now whilst this is always likely that does not mean that tabling Resolutions has no merit. In fact resolutions to the Celtic AGM  offer the following:

Accountability.

An AGM Is the ONLY place The Board can be held accountable because any resolution placed on the AGM has to be answered in line with expectations set out in Company Law. (see Directors Responsibilities at Directors Responsibilities and Remedies – SENTINELCELTS

If the answer is bullshit, (it happens) and that proves to be the case over time, then another Resolution seeking an answer why a previous Resolution had been given a bullshit answer can be tabled and so on, just  like Russian Dolls. Every resolution requires an answer, that is accountability.

There is a problem that AGMs are yearly, so patience is needed but EGM’s can be called if an issue is serious enough  to merit one and enough shareholders with the required number of shares can be found to support requisitioning one,  but let’s park that for later.

Transparency.

All AGM Resolutions backed by a minimum of 100 Ordinary shareholders, once  accepted as an AGM agenda item,  get published in full in the AGM papers that get sent to all shareholders. That makes the issue of concern public and the mainstream media  report on events at an AGM so there is no hiding Place. It depends on the issue of course but if it is about washing bullshit away then The Board would rather that not be done in public.

Leverage.

Cleaning up bullshit gives those who support a resolution leverage for meaningful negotiations where some form of agreement that Celtic can subsequently be brought to account for if they do not act faithfully on what was negotiated and agreed. Resolution 11 to the 2020 AGM is an example of that as the Celtic Trust will be monitoring what progress has been made since that AGM last December.  Celtic like any institution e.g. the SPFL or SFA or fellow club’s and their Directors do not like transparency, so they will do all they can to stop an issue being exposed to all.

Even if The Board decide to take the bullshit route rather than bend to transparency pressure, they have to justifying voting against a proposal and if that justification is bullshit, just  like a boomerang it will come back at them one way or another. Either at the next AGM or in the form of supporters and shareholders deciding they will not pay to be fed any more bullshit. How much revenue have Celtic lost in last few years because of what they see as Board bullshit? How can that be in the Company’s and so shareholders interest?

It’s a process , it’s a process 

https://youtu.be/5AGY0Y1OiF4

Whilst demonstrations in car parks, banners etc have a part to play in achieving accountability by allowing fans to give vent to their feelings and let The Board know they are not happy , the way to harness the feelings of anger and make something happen as a result is via the accountability route  the AGM offers, where The Board must provide satisfactory answers.

One route is not better than the other, they are both part of a process and should be seen as such, not dismissed lightly by either side of the accountability spectrum. Indeed, it is good to see that an aim of the forthcoming planned protest by Celtic Trust, The Bhoys, Celtic Shared, the Green Brigade and North Curve Celtic. is “improved treatment and communication with the Celtic support” as that is a key objective of a resolution now going through a process of consultation and agreement on the new CST Forum for CST members only.

Going back to the title of the article it is important to be resolute in pursuit of resolutions, but it shouldn’t take eight years. Hopefully a speedier way to use resolutions to achieve resolution of any issue can be explored if the draft resolution for the next Celtic AGM under CST discussion, which aims to achieve the accountability objective, leads to better relationships between The Celtic Board  and the supporters.

Extraordinary General Meetings.

One possibility is the use of extraordinary general meetings during the year which according to Celtic’s Articles of Association in compliance with the relevant section in  The Companies Act 1985 states on page 31

31 All general meetings other than annual general meetings shall be called extraordinary general meetings.  (the rest of para relates to Annual General Meeting)

31.1 The Directors may convene an extraordinary general meeting whenever they think fit , and shall, upon a members requisition under Section 368 of the 1985 Act convene an extraordinary general meeting forthwith in accordance with the provisions of that Section.

31.2 The Directors may whenever they think fit convene a separate meeting of the holders of the shares of any class in the capital of The Company, and shallupon a requisition in writing by 5 or more members holding together at least one tenth of the shares of any class in the capital of the Company,forthwith convene a separate meeting of the holders of the shares of that class.

The difficulty of course is finding more than 5 shareholders who together hold one tenth of the shares in any class who, depending on the issue might be prepared to requisition such a meeting.

The difficulty could be eased  by  having an up to date register of shareholders something the CT are working on. The trick is to identify those 5 or more shareholders whose accumulative holding at least equals one tenth of the shares in any class, who may be amenable to holding The Board to account on any given issue, and this is an area where  the Register of Shareholders that the CT are building could prove useful.

Conclusion

It is a mistake to think resolutions placed on the Celtic AGM agenda are a waste of time. It is the passage of time, if used resolutely, that stops that being the case. The waste of time idea is also one that Celtic are happy to see in circulation, they, like the rest of Scottish football  hate the idea of being accountable to anyone but themselves

******

Above article by AULDHEID with our grateful thanks.

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Garry Postecoglou

Auldheid
So good I read your article twice.
Away to read it thrice and more.
Will discover another point I missed on first 2 readings. Bad concentration. 😊
Truly excellent article P. 👏👏👏👍🍀💚

Garry Postecoglou

My favourite ever summer song.
Awesome hidden gem by The Doors.

https://g.co/kgs/nh2Kfc

Garry Postecoglou

The title track of the album is a bit special too.

https://g.co/kgs/5wKuV6

Leggy

Auldheid,

Many thanks for a really thought provoking article. 👏👏👏

You have really opened my eyes to the correct processes surrounding resolutions and AGM’s/ EGM’s

My wee pea brain is current in overdrive so like Garry, might need another read to fully digest.

Keep up the good work and hopefully meet up soon(Covid-19 free) for a pint 🍺

HH🍀🍀👍👍👍

jimthetim53

First class article Auldheid.
Still at the forefront of holding the Celtic board and Hampden to account!

jimthetim53

Morning Packy.

In some ways The Rangers are ‘lucky’ swines.
They managed to be rid of Mike Ashley. He has now stepped down as leader of his business empire. Good timing IMO.

And yet we are still lumbered with Dermot Desmond!

Take the hint DD.

Go and enjoy you’re retirement. play golf in the sunshine and leave us in peace for God’s sake. You are well past your ‘sell by date’.

jimthetim53

Mike Ashley was a retailing magnate not an expert in running a football club. Ask Newcastle fans.

Dermot Desmond – whatever his expertise is – is not an expert in running a football club. He acts like he actually HATES Celtic! Like he wishes us to fail! It’s not the money. Peanuts to him! A perverted ego.

Thetic

Auldheid great article and great timing for me. I am in a Strata development dispute where one member has removed a street light to provide himself with better parking and access to his lot
Your article has given me fresh wind for my sails. I believe he is taking advantage of the politeness and friendship of his neighbours for his own benefit, So far I am the only one who has taken on the Strata Boards inaction on the matter, I have written to the Board but they are not interested in pursuing the matter ,I hope that there’s maybe a silent majority waiting to see how this pans out with my probing
Your well laid out article gives me the courage to keep going for what is right

big packy

MORNING JIM,just dashing out to pick up a dog, will speak later buddy👍

Friesdorfer

Auldheid
👍👍
HH

St tams

Excellent read Auldheid.
Very informative.

jimthetim53

I wonder if Auldheid’s post would be allowed as the leading article on CQN? No criticism intended, it’s a free domain.
For posters.

Jobo Baldie

Good morning, friends.
Auldheid – I know you’ve been working on this for a while but that is a well laid out easy to follow article. AGM resolutions are often prematurely disregarded as important simply by saying ‘it will never win the vote’. Your article lays out why they are still important – even if the majority shareholders vote it down, if it gets onto the AGM agenda, the directors have to give their recommendation (in advance of the AGM) on how they want shareholders to vote – and their reasons for doing so.
The stumbling block, clearly, is getting 10% of the shareholders to support a motion. The latest PLC accounts filed at companies house are for the year to 30 June 2020 (the 2021 accounts are due to be filed by 31 December this year). Those accounts are here: https://find-and-update.company-information.service.gov.uk/company/SC003487/filing-history
There are (or were) around 94.3 million ordinary shares issued. So it’s about who owns at least 9.43million of them.
Let’s start a list – I have 50!

jimthetim53

Jobo, I bought my shares in January, mainly to support Auldheid and/or the Celtic Trust.

Jobo Baldie

Searching on Companies House can be fun and here’s a step by step guide for anyone who’s never done so!
Google ‘Companies House’ and from the list of results choose the Gov.UK one (Companies House – GOV.UK (www.gov.uk))
Search for Celtic PLC and on the Overview tab you will see that our previous name was The Celtic Football And Athletic Company Ltd (12 April 1897 to 15 December 1994) – important that it was only a name change in late 1994 to ‘Celtic PLC’, not a new company!!
Start again and this time search for ‘Rangers International Football Club PLC’. Again, on the overview tab you will see that the company’s previous name was Rangers Football PLC (16 November 2012 to 27 November 2012) – so this company did not exist prior to November 2012. Hmm…..
OK, let’s search instead for ‘The Rangers Football Club Ltd’. Bingo, that company was formed on 29 May 2012 and its previous name was Sevco Scotland Ltd (29 May 2012 to 31 July 2012), changing it’s name just at the start of the 2012-13 season.
So, where’s the company/club that’s meant to have been around for nearly 150 years?
Search for The Rangers Football Club PLC and you get a result for “RFC 2012 P.L.C.” – this shows, in bold red, “Accounts overdue” and other things. The last accounts filed were for 30 June 2010 and the previous name of the company – from 27 May 1899 to 31 July 2012 was……The Rangers Football Club PLC
Hereendeth the brief history lesson. Off to do some more painting! 😉

jimthetim53

Jobo, that’s all very well but what is the weather like in EK?

jimthetim53

And what are you painting. A portrait, landscape….?

Jobo Baldie

Grey and cloudy, but mild, in ole EK. And painting a downstairs room (top to bottom) whilst serving my self isolation!
Back on later…. oh and Happy Matchday! (BBC Scotland at 4.45pm)

jimthetim53

jimthetim53

jimthetim53

Big Audio Dynamite

Anyone ever built a double bed on their own? I could be modelling for a book on kamasutra this morning, some of the positions I’ve been in! 😂

A bed in a box …wonders will never cease 😴

jimthetim53

B.A.D. LOL 🙂

jimthetim53

fan-a-tic

B.A.D.
Consider it foreplay for the real action in same bed.

jimthetim53

jimthetim53

Holy God, Virginia Plain was nearly half a century ago!!!!

Big Audio Dynamite

Fan, no no, it just said BED IN A BOX, there was no mention of a woman …I looked!👀 you’re thinking of BABE IN A BOX, that’s a whole other corner of the internet ☺

jimthetim53

For Labour supporters! – (me)

Craig 76

B.A.D
I’ve invented a whole new language assembling flat pack furniture 😤

jimthetim53

This is for Garry. don’t ask me why, I just think he would like it! 🙂

Hot Smoked

Just watched some clips of the Czech Hibs (Jablonec) and also watched Big Ange`s press conference (https://www.youtube.com/watch?v=byp5wmlc2dk&ab_channel=CelticFC).
A combination of the two has left me fairly confident we will get at least a draw tonight.

Hot Smoked

B.A.D

I am tempted to ask about screws in the assembly of your rapidly becoming famous bed :-))

Jobo Baldie

Big Audio Dynamite –
I once assembled a cabin/bunk bed all on my own. It was a surprise for my then 7 year old son when we moved into our current house. We only had 1 day where we had keys for both our old and new house and the wee bedroom he was getting was pretty tight (hence the cabin bed). Really not sure how I managed it but I did.
What I didn’t take into account was the fact that the single ceiling light was the old ‘bulb on a wire’ that dropped down about 9 inches from the ceiling. So when Paul climbed the ladder into bed for the first time he almost got his backside burnt!
Good luck with your own project!

BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS

HOTSMOKED

Bad man! And I thought butter wouldn’t melt…

Rebus67

Some great tunes on here today! Brings back memories!

Keep them coming.

Rebus

bada bing1

Huns full capacity for Malmo

junglegerry

B.A.D.
H H, been there (effin nightmare).
The bed my missus bought was a build it yourself job,
Oh its good bed she says. cost a pretty penny she says,
Is it extra for the instructions leaflet ? i said. cos theres no wan in the effin box.
Pulling my hair oot, i was,Took me hours.JG.

BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS

JUNGLEGERRY

I got a new laptop a year ago. Set-up instructions were online. Not much bloody use if you have to set the laptop up first to get online!

junglegerry

Bobby.
After assembling said bed i never slept a wink that night.
Naw no that…
My back was killin me.JG.

junglegerry

I see the funny mob from the soo side are digging their heels in over the cinch sponsorship deal with the spfl.

The king

Excellent read hh

BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS

Anyone know how many fans are allowed in on Sunday?

jimthetim53

C’Mon Britain.
Olympics Medals –

GB 50
Germany 34
Italy 35
Holland 24
France 25
Brazil 16

They might be good at football but….!

auldheid

Jobo Balde.

That is an exercise I did myself and reached same conclusion.

This bloody same club myth that Celtic never debunked is an insult to the intelligence of the support.

That 5 Way Agreement is toxic to our game.

Garry Postecoglou

JTT53
You know me too well.
Oliver’s Army was one of the first singles I bought, aged 13, with my paper round money.
It is still banned by the BBC from airplay.
I wonder why???

Garry Postecoglou

BMCUW
25k on Sunday.
I will be one of them, my grandson will be there too.
Really excited, and cannae wait for Sunday to arrive. Mass then lunch, then Celtic.
Life getting back to normal. 👍🍀💚

Garry Postecoglou

Wee song for JTT53.
Taken from my favourite Scottish album.
My autobiography song. 😁

https://g.co/kgs/8dr927

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