Rochdale AFC

[MDWat]

This doesn’t sound good…

https://www.rochdaleafc.co.uk/news/2024 ... gm_070324/

[CleggHall]

Can someone please interpret?
Are the Dale in serious trouble?

[claptrappers_union]

Broken down for you

This notice indicates that Rochdale Association Football Club (RAFC) is convening an Extraordinary General Meeting (EGM) on Thursday, 7th March 2024, at 19:30, at The Ratcliffe Bars & Function Suite in Rochdale. The purpose of the meeting is to discuss and vote on several resolutions.

Removal of Restriction on Authorised Share Capital (Special Resolution): This resolution proposes to remove restrictions on the authorized share capital of the company so that the number of shares the company can allot and issue will be unlimited.

Authority to Allot New Class of Shares and Class Rights (Ordinary Resolution): This resolution seeks authorization for the directors to allot a specific number of new ordinary A shares with defined rights and restrictions.

Changes to Director Rotation (Special Resolution): This resolution proposes changes to the company's articles of association, specifically regarding the rotation of directors, exempting A Share Directors from this requirement.
Changes to Voting (Special Resolution): This resolution suggests amending the wording of certain articles of association related to voting procedures at general meetings.

Removing Requirement to Appoint an Auditor (Special Resolution): This resolution aims to remove the requirement for the company's accounts to be audited and for the appointment of an auditor, with a specific mention of the current auditor holding the position until the next Annual General Meeting.

These resolutions cover significant changes to the company's structure, governance, and financial processes. An EGM is called when urgent matters require shareholder approval outside the scope of regular annual general meetings. Each resolution will be voted on by the members present at the meeting.

[claptrappers_union]

They are going bust, simply restructuring, or there's going to be a change of ownership... I dunno?

[Clovius Boofus]

Rochdale AFC face threat of liquidation unless £2m investment is found

https://www.theguardian.com/football/20 ... n-football

[claptrappers_union]

Rochdale: American firm World Soccer Holdings LLC close in on takeover of National League club

World Soccer Holdings LLC have signed a letter of intent to purchase National League side Rochdale.

Chairman Simon Gauge said earlier this month that the club could face liquidation if they did not find new investment by the end of March.

Dale were relegated from the Football League after 102 years last season.

The deal is subject to shareholder approval of the resolutions to create shares at the Extraordinary General Meeting on 7 March.

"We are delighted to receive the LOI from World Soccer Holdings," Gauge told the club website.

"Investment in the club is essential for our survival, and WSH tick so many of the boxes that we have been looking for in an investor.

"They have a track record in sporting investments and have a long-term sporting plan for the club and come with expertise in the field."

World Soccer Holdings chief executive Scott Dyer said the group would be coming to the forthcoming home game against Oxford City on Saturday, 9 March.

"We have great respect and admiration for the history and the culture of the club, and we are grateful for the hard work and sacrifices undertaken by both the staff and board and the supporter's trust to make this partnership possible.

"We look forward to engaging now with the Dale Trust to answer any questions that they may have regarding our investment and with local politicians to gauge the level of support we can expect to receive to support our investment in Rochdale.

"We could not let 100 years of history go to waste, and we believe we can work together to elevate the Dale back to its previous heights and beyond."

[ŽižkovClaret]

So, they need a rejig of their structure in order for the Americans to be happy to invest

[CleggHall]

Good let’s hope they keep the Dale afloat, there deserves to be football at Spotland.

[claptrappers_union]

Rochdale's preferred bidders the Ogden family have submitted an offer to buy the National League side and invest £2m in the club.

The family were announced as the preferred bidder after World Soccer Holdings' period of exclusivity ended.

World Soccer Holdings had said they intended to buy Dale in February.

Existing shareholder loans provided by chairman Simon Gauge and Richard Knight will be turned into ordinary shares, according to the family's proposals.

"Our primary ambition is that the club should achieve a financially sustainable position without needing to rely on footballing success," the family's statement said.

"To do this, the club will need to materially increase both matchday and non-matchday revenues, whilst maintaining a prudent and efficient cost base."

Amongst their other plans are to establish "a new sports facility", to be used by the first team and academy, while they also pledged to mount a first-team budget befitting a promotion challenge for next season.

Rochdale are 11th in the National League table, with one game remaining, in their first season outside of the English Football League following relegation last term.

[bfcjg]

Hope it works out well for them. Who'd have thought we were once in the same league as them, and they for a while performed better than us.