Shareholders back the Rights Issue

10 November 2000

Following the revelation that former Chairman Tony Hale will be opposing the proposed rights issue at the forthcoming EGM, Shareholders for Albion - the new organisation set up this year to represent and promote the interests of small shareholders - sought the views of its members and issued the following press release to state their position:

Media Release Shareholders for Albion (S4A) are an independent organisation formed to represent and protect the interests of small shareholders of West Bromwich Albion. We have no allegiance to any individual or group and our only concern is to see our club restored to its former glories. At the Extraordinary General Meeting of the Club scheduled for Wednesday 15th November 2000, the Board is proposing a Rights Issue. Shareholders for Albion has canvassed a majority of its members and found that there is overwhelming support for the Rights Issue. S4A are writing to Mr Waldron asking that he votes for the Rights Issue. S4A are writing to Mr Hale questioning his reported opposition to plans which are very similar to his own (as outlined in a letter to all Shareholders on 22nd June 1999). At the Annual General Meeting of the Club scheduled for the same date, Mr R Reader is seeking election to the Board. S4A has already written to Mr Reader on 15th September 2000 asking him to set out his plans and aims and objectives and have not received a reply. Shareholders for Albion conclude that Mr Reader is not interested in sharing his views with small shareholders and supporters. Moreover if reports that he wants to resume conflicts with the present directors are correct, then this would undermine progress made in the last eleven months. In light of the above we feel we cannot recommend our members to vote for him. The overall view of the officers of Shareholders for Albion is that the club is currently making progress and we believe our members and probably most small shareholders do not wish this progress to be jeopardised by confrontations at board level.

Previous Stories:

  05 November 2000:  Hale attempts to block Rights Issue

  03 November 2000:  They don't like it up 'em!

  27 October 2000:  Albion plan Rights Issue

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