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Mostyn could be next chairman of Bournemouth
England - 20 March, 2007
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At an Extraordinary General Meeting, the shareholders of League One club, AFC Bournemouth, will vote on a proposal by a consortium, which consists of Hampshire-based businessman Jeff Mostyn and associate director, Steve Sly, to buy a controlling interest in the club.
Mostyn, a 61-year-old financial broker, has said publicly that their offer gives "the last known hope for this football club."
Club chief executive Laurence Jones will chair the meeting that will have the club's board in attendance as well as Mostyn and Sly.
"The shareholders will be asked to vote on the fixed resolutions that have been put forward," Jones told the Bournemouth Daily Echo.
"Some have voted already by proxy because they are unable to attend, and these will not be declared until after a vote has been taken at the meeting.
"In a straight vote, if 75 percent plus one vote in favour, then the resolutions will be accepted. It is possible for a shareholder to say they would like a poll.
"If the resolutions are passed as accepted, then we would have a board meeting on Monday and Jeff Mostyn would become chairman."
Bournemouth has about 1,400 shareholders, who together own in excess of 1,800,000 ordinary GBP 1 shares.
The club's three major shareholders are local businessman John Piper, former club president Stanley Cohen and ex-chairman Tony Swaisland. Their holdings amount to approximately 150,000 each and could play a key role in the outcome of tonight's meeting, should they decide to vote.
Current board member Phil Hordle, who is based in Japan, owns around 100,000 shares, while Community Mutual, a supporters' organisation, owns a comparative amount of shares.
The CM has already made public its endorsement for the consortium.
Other shareholders include former manager Mel Machin, Nick Hayward, whose family founded the club, and recent chairmen, Abdul Jaffer and Peter Phillips.
Mostyn, a 61-year-old financial broker, has said publicly that their offer gives "the last known hope for this football club."
Club chief executive Laurence Jones will chair the meeting that will have the club's board in attendance as well as Mostyn and Sly.
"The shareholders will be asked to vote on the fixed resolutions that have been put forward," Jones told the Bournemouth Daily Echo.
"Some have voted already by proxy because they are unable to attend, and these will not be declared until after a vote has been taken at the meeting.
"In a straight vote, if 75 percent plus one vote in favour, then the resolutions will be accepted. It is possible for a shareholder to say they would like a poll.
"If the resolutions are passed as accepted, then we would have a board meeting on Monday and Jeff Mostyn would become chairman."
Bournemouth has about 1,400 shareholders, who together own in excess of 1,800,000 ordinary GBP 1 shares.
The club's three major shareholders are local businessman John Piper, former club president Stanley Cohen and ex-chairman Tony Swaisland. Their holdings amount to approximately 150,000 each and could play a key role in the outcome of tonight's meeting, should they decide to vote.
Current board member Phil Hordle, who is based in Japan, owns around 100,000 shares, while Community Mutual, a supporters' organisation, owns a comparative amount of shares.
The CM has already made public its endorsement for the consortium.
Other shareholders include former manager Mel Machin, Nick Hayward, whose family founded the club, and recent chairmen, Abdul Jaffer and Peter Phillips.
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