Minutes from the meeting held on November 13th 2003

Morning everybody. Many thanks to those of you who came to what was a momentus meeting, where the Nest Egg membership voted to take great strides in its development.

Firstly was an agreement to buy shares under the new share issue. For the supporters' association to commit to taking some ownership in the club is a major step forward which gives supporters a significant - and official - unified voice. And, hopefully, a more influential presence.

The second was the unanimous decision to transform the Nest Egg into a fully fledged Supporters' Trust. This will mark a real 'growing-up' of the Nest Egg and will give us a robust, legal status that will provide a real springboard for future development and fundraising.

If anyone would like a copy of the draft constitution which we'll need to ratify at the launch of the trust (which will be in early January), you can email me back and I'll send one to you. If anyone would like information on Supporters' Trusts, please contact me and I'll sort that too.

At the outset it was hoped that the Nest Egg would not only raise much needed money for our club, but also provide an independent vehicle for all supporters to get involved and a conduit by which Hornets fans could make their views known.

In becoming a trust and buying shares in the club, we will be able to do that with even more confidence.

Thanks from last night's meeting to everyone who paid-up on their try sponsorships and to Rachel who took and wrote-up our new 'offical' minutes below (and will be doing so at all future meetings!).

Finally, congratulations to Wally Tann and Dave Bulcock for winning the raffle - which raised a staggering £75.

It's hoped that the Nest Egg will be able to meet prior to Christmas in order to discuss the constitution, gain confirmation of which members are interested in buying season tickets (see minutes below) and take pledges for next year. But mostly, it'll be good to get everyone together and celebrate what's been a fantastic first year - and to look forward to our next one.

Many thanks for your continued support.

Onward Hornets, Onward

Jim

Minutes of meeting Wednesday 12th November 2003

Agenda :-

Accounts Summary
Share Issue
Supporters Trust
Any Other Business

The Nest Egg Account

At present, the account balance stands at £2,350 which includes monthly direct debit payments and most of the try sponsor money. As some try sponsoship money was still to be collected, the account should easily reach £2,500.

Share Issue

As Rochdale Hornets will be releasing a considerable number of shares in the near future, it was suggested that the Nest Egg should get involved with this and purchase some shares. At present, when the Nest Egg donates any funds to the club, we do not have anything concrete in return. Depending upon how many shares were to be purchased, ownership could give us a reasonable stake and say in the club.

If shares were purchased, we would have to appoint a Nest Egg representative who would be present to voice our opinions at the shareholders' meetings. Prior to any meetings, the Nest Egg would meet to discuss the agenda and gather thoughts from the members.

Ray Myers asked, "whose name would go on the shares?"

In answer to this, the shares would be registered in the name of Hornets Nest Egg.

If all the shares issued are not sold, it may be possible in the future for the Nest Egg to purchase more shares in the future, thus giving us increasing ownership and more powerful representation.

Although the response to purchasing shares had been positive, Jim did highlight the concerns of some Nest Egg members. These were:- Ownership of the club wasn't important: We could not contribute enough to make a significant difference: The money would be better invested in the club infrastructure - such as the scoreboard or purchasing merchandise

These concerns were put to the floor, but no one agreed with the above. As everyone was in favour of the Nest Egg purchasing shares, the next issue. was how much should be spent.

Ray Myers proposed that we should contribute £1,600, leaving around £800 in the account. this was seconded by Brian. However, Clive disagreed with this and pointed out that the account is growing by £80 per month due to the direct debit payments. Therefore he proposed that we should use £2,000 to buy shares. Ray withdrew his original suggestion of £1,600 and agreed with Clive.

The motion was put to the vote and all present agreed.

The vote was therefore carried and £2,000 will be used to purchase shares.

Supporters Trust

Jim stated that by evolution over the last year, the Nest Egg was already operating in the same way that a Supporters Trust would. Already we offer an open membership affordable to all, all members have equal membership and voting rights, we maintain a members' register and issue membership cards, we are run on a democratic basis where all decisions are made based on a majority vote of the membership, we have a bank account administrated by elected representatives of the Nest Egg, we are run as a 'not-for-profit' organisation, we are seeking to foster better relations with both the club and its community and we have a draft constitution that has been circulated for comment. We're now also at the point where we're suggesting that the organisation buys shares in the club 'as a body'.

Become a Supporters Trust would involve the Nest Egg registering as an IPA. There are several advantages to becoming a Trust, such as having a recognised legal status, being able to have employees - even to take over the club if necessary - but each shareholder in the trust (member) would only be liable for the cost of their one share.

Jim pointed out that he would try to arrange a meeting with Supporters Direct - the Supporters' Trusts governing body - to try and "fast-track" registration to a IPA Trust. The registration costs range from £250 - £750, depending on the time taken to register. As IPA's are grant funded, the Nest Egg would be able to claim the registration fee back, so effectively it wouldn't cost us anything to register.

There are over 100 Supporters' Trusts in operation across the country and, currently, in Rugby League there are 3 : Warrington, Halifax and Swinton.

Andy Birch proposed that we should look to become a Supporters Trust, "it is a natural progression and common sense that we progress to a trust".

This was seconded by Dave Withington.

All voted in favour and the motion was carried.

Jim will hopefully arrange a meeting with Supporters Direct in London before Christmas, any members Nest Egg Members would be welcome to attend, but travelling would be at own expense.

A short interval was then held and Supporters Direct leaflets were given out. Outstanding try sponsor money was also collected.

The meeting resumed at 8.15pm.

As the Nest Egg has been established for almost a year, an AGM should be held, but a meeting is also needed when a Supporters Trust is formed. Therefore it was felt to be logical to combine these and hold one meeting, probably shortly after Christmas.

It was advised that Supporters Trusts have a joining fee that is affordable to all - so that everyone initially pays the same. Any further contributions - as we currently have in the Nest Egg - are classed as donations to the trust. The joining fee for our Trust has yet to be decided. Also, a Constitution is necessary which all members are required to sign up to. This is mainly due to regulatory factors - a copy of the amended draft Constitution was available for members to take home after the meeting.

Any Other Business

It had been suggested that the Nest Egg runs a full page advert in next season's programme. This would cost £250, and we would be able to publicise forthcoming events and have details of how to join the Nest Egg.

Dave Jones proposed that we do this, it was seconded by another Dave.

When put to the vote, only one member was against this idea, but all others were in favour.

Due to the club's current financial position, working capital is desperately needed. It was pointed out that the sale of season tickets is a good way of generating money in the off season. It was suggested that, maybe, Nest Egg members could lead the way and purchase season tickets.

As this was down to personal preference, there was no vote on this matter. Interested individuals spoke to Jim at the end of the meeting. The response was positive and a number of members are interested in buying season tickets.

Ray Myers then asked, "what is the Nest Egg membership total"?

There are currently 58 members and in just one season, nearly £6,000 has been raised. It was thought that if the membership could be doubled next season, there is the potential to raise £12,000.

A point from the floor: The issue of 'free tickets' was raised. It was suggested that, o increase gate receipts, the club should operate an "everyone pays" policy, as Nest egg members were concerned that there were too many people getting into games without paying.

Jim suggested that when the Supporters Trust is formed, we will be in a reasonable position to lobby the board for this. Alternatively, members of the board could be invited to a Nest Egg meeting next season to discuss this. Until then, there is no answer to this as the Nest Egg has no say in boardroom matters at present.

With regards to the Saturday Yankee, Brian suggested that Nest Egg members could become agents. This would generate extra income and any commissions could be ploughed back into the Nest Egg. He also recognised the efforts of Craig Nagy who has done a superb job in recruiting new Yankee members.

Dougie McEndoo enquired about fundraising. Jim confirmed that there will be a big push for fundraising next season, with the possibility of a car boot sale, another quiz and other initiatives. The Supporter's "do" which was scheduled for mid November has been put on hold until further notice as efforts have been channelled in other directions due to the club's financial position.

As always Andy Birch collected money for raffle tickets. Prizes were a signed rugby ball donated by Franny Ward, and a bottle of wine donated by Alan Hartley. Thanks to them.

The raffle raised £75.

Jim closed the meeting at 8.35pm and thanked everyone for coming, saying: "Despite recent events, there is still optimism for next season!"

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