A secret ballot, organised by the AFC Bournemouth Community Mutual and held over the past twelve days was counted on Wednesday evening and the results were as follows:
For: 258
Against: 17
Abstain: 3
Spoilt papers: 9
Before the ballot, the Mutual recommended that supporters voted for the proposed stadium sale and held a special members meeting on Friday October 28 to discuss the proposals.
The club now need to prove that it can adequately restructure the business to implement the following:
1. A fair treatment of creditors
2. Adequate working capital
3. Day to day profitability of the business.
Should these conditions be met to the satisfaction of the fans' trust board then the Mutual will use its controlling 51% share of the company to vote for the proposed sale and leaseback deal at the shareholders Extraordinary General Meeting this coming Friday evening.
The Mutual believes that this is the first time in UK football that supporters have been given such a major say in how a football club is run. Fans from as far away as China, Australia, USA and United Arab Emirates took part in the unique ballot.
Notes
1) The Mutual was set up in 2000 with backing from the Government. It has 2,500 members, holds two Golden Shares (worth 51% of the voting rights of the company) and £100,000 worth of ordinary shares in AFC Bournemouth.
CONTACT
AFC Bournemouth Community Mutual,
The Cherries Fans Trust
c/o John Lewis & Associates,
Hanover Hse,
136 Old Christchurch Road,
BH1 1NL
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