We thank members for participating in this year’s Annual General Meeting (AGM) that took place at the Maesgwyn Hall, Wrexham on Monday, June 26th, 2003.
Society Board Elections
As advised, there were two vacancies for the Board at the AGM and it was confirmed that Brian Phillips and Scott Moreton were elected by the Election Management Group (EMG). We would like thank Christine Robinson (Chair), Clive Popplewell and Liam Randall for their assistance with the elections.
The AGM also saw Gavin Jones retire from the Society Board, having initially joined as Secretary in 2007. Chair Barry Jones thanked Gavin for his commitment and service to the Trust over 16 years that involved the acquisition of the Club and securing the long-term lease to the Racecourse Ground.
Chair Barry Jones advised members that 2022 was a turnaround year for the Trust when a fully quorate Board was elected at the 2022 AGM and the adoption of a new constitution that reflected the fact that the Trust no longer owned the football club.
The Trust continued to redeem Community Shares to any holder who requested a refund. A total of £46,120 was paid back to 54 members (including Supporter groups).
The implementation of a new web based self-serve membership system software began that will enable our members to manage their own account. Members have recently received new membership cards after an absence of two years.
The Trust board was busy selling the final Kop barriers. The last barriers were sold during June and a further £10,200 was raised, giving total income over two years of over £41,000.
Treasurer Brian Philips presented the financial statements for 2022. This showed that revenue in 2022 was £29,247 and a surplus of £22,238 after deducting costs of £7,009.
The Trust held cash of £138,402 as of December 2022 and this more than covered the remaining Community Shares of £117,440 at the same date.
Voting on resolutions
There were two resolutions at the AGM and this was a summary of the results:
|Appointment of Auditors||120||0||6||126||Passed|
|Adoption of Election Policy, Standing Orders for General Meetings, Standing Orders for Society Board Meetings and Code of Conduct for Board Members||119||1||6||126||Passed|
WST Assets Accounts
Mark Williams presented the accounts for WST Assets for the 18-month period ending 31 December 2022. The accounting period was extended to coincide with the yearend of the Trust. The accounts showed income of £172,500 and a profit of £2,559.
Racecourse Lease Update
Chair Barry Jones provided the following update to members on negotiations with the club regarding the Racecourse Lease.
We have been engaged in regular, detailed, discussions with the Club over the past four months, as they have asked the Supporters Trust to surrender our lease on the Racecouse/Cae Ras. This lease was originally put in place to protect us from another Hamilton type owner and ensure that the ground can only be used as a sports stadium, as opposed to being redeveloped for residential or commercial use.
Our lease has 92 years to run and we understand that our owners’ motive for removing the lease is to facilitate raising finance for major ground improvement and re-development. The Trust will obviously not stand in their way as long as the Club’s long-term future at the Racecourse/Cae Ras is ensured.
The Club has offered an alternative to the lease, which includes undertakings to the Trust designed to ensure that the Racecourse Ground/Cae Ras can only be used as the home of Wrexham AFC. The proposed legal structure is not straightforward and the Club and the Trust are in the process of jointly obtaining a King’s Counsel opinion to confirm the extent to which the proposal gives us the same long-term assurances as the current lease.
The Club has agreed to pay the costs of the King’s Counsel as well as the Trust’s legal costs in obtaining our own legal advice from a leading London firm of solicitors. Three Trust members with extensive legal and property experience are advising your Board and are hopeful of a positive and speedy outcome.
We hope to be able to put a proposal to a Trust members vote later in the summer, once the King’s Counsel opinion has been received. We will provide members with an update when appropriate and will continue to work with the Club to achieve the best long-term outcome for all of us.
- Draft AGM Minutes
- A: 2022 AGM
- B: WST Accounts 2022
- C: Election Policy (Resolution B)
- D: Standing Orders for General Meetings (Resolution B)
- E: Standing Orders for Society Board Meetings (Resolution B)
- F: Code of Conduct for Board members (Resolution B)
- G: WST Assets Accounts for the period ending 31 December 2022
- H: AGM PowerPoint presentation