Southampton set wheels in motion to remove Lowe!

MrJoeSoap

Notice has been received by Southampton Leisure Holdings plc (SLH) from Michael Wilde to requisition an extraordinary general meeting of the company under s368 of the Companies Act. This notice requires SLH to set the date of the EGM within 21 days of receiving the notice. There is then a notice period of 28 days between the setting of the date and the egm itself taking place.

The notice proposes the removal as directors of Rupert Lowe, Andrew Cowen, Michael Richards, David Windsor-Clive and Guy Askham. The notice further proposes the appointment as directors of Michael Wilde, Ken Dulieu, Jim Hone, Lee Hoos, and Patrick Trant.

The Board of SLH will be discussing the receipt of this notice with its advisors before taking any further action. In due course the Board will circulate a detailed analysis to shareholders and may invite Mr Wilde to do the same.

Rupert Lowe, SLH and SFC chairman said: "It is premature to voice any opinion as to whether the changes proposed are in the company’s best interests or not. To help in this process we may ask Mr Wilde to set out the detail of his proposal as this not present in the notice.

"The removal of five out of nine directors from the plc Board is a major change for the company and it is our intention to make sure that shareholders have the full story at the earliest possible opportunity. As and when a date is set for the EGM all shareholders will be given the appropriate notice and will be able to vote on the changes as individual resolutions either in person or by using the ballot paper which will be sent to them.”

http://www.saintsfc.co.uk/article.asp?article=387525&Title=EGM+called

Its about bloody time too. This guy has been ruining the club for far too long, and if he doesn't resign before this goes ahead it will show what a spineless piece of work he really is.

Saints fans seem quite keen on Michael Wilde, though I know next to nothing of him myself.

Watch this space.

mchurl

Havent heard much about him either but surely he cant be as bad as Lowe. It's about time something has been done about him.

MrJoeSoap

Having just read his letter to Saints fans I say this guy is the right man for the job. Its only a matter of time now...

Dear Supporters of Southampton Football Club,


In previous public statements I have declared my desire to achieve change at the highest level within Southampton Leisure Holdings Plc and have indicated a number of areas where significant improvement is required. To assist this end I have acquired a substantial shareholding and undertaken extensive discussions both within the Club and outside it to determine the most appropriate means of achieving such change. I have spoken to the Chairman; all Board members; senior members of staff; junior members of staff; ex-members of staff; many people with historic connections with the Club; and many people new to the Club. I have also sought the views of supporters and monitored closely groundswell opinion. On the playing side, I have inspected all available facilities and spoken to both the coaching staff and those working to maintain and manage those facilities. This lengthy exercise has enabled me to clarify in my own mind the measures that need to be taken for the long term benefit of the Club.

The issue of how such changes are to be achieved has also required careful consideration. There are many options in this regard and my preference has always been to achieve change in a responsible manner and with minimum disruption to the Club. Hence, I have had many extensive conversations with the Chairman and members of the Board to establish the best way forward. Unfortunately, whilst there has been in principle agreement in respect to a number of matters, it has so far proved impossible to reach any final form of agreement. It is important to stress that the Board has been given every opportunity over recent weeks to address some of the fundamental deficiencies within the Club, but have been unable to give any degree of comfort that these changes could be achieved through a process of continued negotiation. In particular, I refer to the need for a clear separation between the roles of Managing Director and Chairman, and the rejuvenation, in a structured and progressive manner, of the present Board of Directors.

The season has now finished, and if stability and continuity is to be ensured for the coming season, any significant changes need to be effected well before the return of the First Team squad on June 27th. To have any chance of achieving this, therefore, I am left with no viable alternative other than to requisition an Extraordinary General Meeting of the shareholders of Southampton Leisure Holdings Plc to assist in the implementation of the changes that are so desperately needed. Unfortunately, there is no “right” time for such an action and it is disappointing to say the least that the present Board have not, as yet, actively sought to remove the necessity for it. In this respect, I believe they have not, so far, considered adequately the long term interests of Southampton Football Club. Consequently, the shareholders as a whole must now have their say.

This requisition calls for the removal of the Chairman, Mr Rupert Lowe; the joint Managing Director, Mr Andrew Cowen; and non-executive Directors, Mr David Windsor-Clive, Mr Guy Askham and Mr Michael Richards from the Boards of both Southampton Leisure Holdings Plc and its subsidiaries.

In order that disruption is minimised and stability maintained, I am at the same time, in addition to myself, proposing the appointment as Directors of Mr Jim Hone, former Chief Executive of Fulham Football Club and previously Business Operations Director of Scottish Premier League Club, Celtic FC; Mr Lee Hoos, until recently Deputy Managing Director of Fulham Football Club; Mr Ken Dulieu, Chairman of Capcon Holdings plc and a Director of Vantis plc; and Patrick Trant, Chairman of Trant Holdings Ltd and a Director of Rose Bowl Plc, the owner of Hampshire Cricket Club.

If the resolutions are approved, it is intended that Ken Dulieu would be appointed as Chairman of the Company and Jim Hone as its Chief Executive with Lee Hoos as Operations Director. The appointment of these outstanding and experienced individuals will, in my view, ensure the highest standards of corporate governance; minimise any disruption to player trading during the transfer window; ease the required transition between administrations; and, consequently, will provide the best possible chance of a speedy return to the Premiership. A statement outlining their proposals will be circulated to all shareholders in due course. However, I can confirm that a fundamental element of the proposed strategy is the retention and full support of the present senior management structure of Southampton Football Club Ltd, and in particular, George Burley. Further enhancements to the Board will be considered following a successful EGM.

It is time for all shareholders everywhere to use their votes wisely and in a manner befitting the status and reputation of our great Club. Once concluded, there can be no further excuses for divisions within our fan base – we must all move forward together, united in support of our Team. These next few weeks will hopefully provide the essential building blocks for our Club’s rehabilitation.

I am sure that most fans, shareholders and stakeholders are aware of the considerable amount of preparation that a comprehensive proposal of this kind requires and understand the many complexities involved. I am therefore grateful to them all for their patience in this matter and I, Ken, Patrick, Jim and Lee now look forward to your support at this very historic moment for Southampton Football Club.


Kind regards to you all,


Michael Wilde
COYR

3greenrizla's

I have always been against change for change's sake,

Lowe kept us floating, moved us to sms, but eventually got us relegated:mad:

wilde is the man to bring us foward.:D especially with the new EXPIERENCED team he is bringing in. (& possibly some money too:cool: )

Burley is going to be the main man at the club.:D

automatic promotion is in sight:D

COYR

(i'm going to have to change my sig now - where's that lucy pinder pic.:D )

3greenrizla's

PS i hope SCW stays, you need a fit squad to win the league

MrJoeSoap

3greenrizla's wrote:

PS i hope SCW stays, you need a fit squad to win the league

Not at a cost of 750k Stg a year you don't! Plus, I don't think he has much (if anything) to do with that side of things.

Can't wait to see the back of both him and Lowe.

3greenrizla's

i really dont think that he is on 750K, but that is a never ending debate. & I do agree that you could get someone else to do the same job for alot less but SCW is the best in his field (which is????? DOF??????:( )

seriously, i do think he has alot to offer the club, we need to be careful not to throw the baby out with the bath water.