AT today’s General Meeting held today at the DoubleTree Hilton in Glasgow, shareholders voted in favour of all proposed resolutions, to support the club’s future growth and investment plans.
The proposals received strong backing from shareholders in attendance and by proxy vote, with over 98% of support for all resolutions.
This grants the Board the authority to issue £20 million of new shares and ensure the necessary framework is in place to support that investment and future capital raises.
The club will also re-register as a private company, allowing it to operate with a more streamlined, agile governance structure. New Articles of Association were adopted to reflect this updated status.
Chairman Andrew Cavenagh spoke at the conclusion of the meeting, and began by praising outgoing board members and shareholders.
He said: “Whether it was in the Q&A today or in media down the road, we will talk about how we will do things differently, and on occasion, we'll probably accidentally slip in the word ‘better’.
"And I want to make sure that doesn't come across the wrong way - there are many people that came before us, and nothing that we say in terms of doing things differently should be seen as denigrating any of their efforts.
"This club has been led by some fantastic people who have done everything out of love that they share for the club. They have dipped into their pockets to finance the club, and so we are incredibly grateful to those that came before us and think that the club owes them a debt of gratitude.
“The second thing that I wanted to touch on is that this has been a long process. The first phone call, my sort of lightning bolt moment, was in October. We closed the deal in June, and this is the culmination of that deal today.
“But I want to be crystal clear with everybody here that today, while it represents the end of that deal, it does not represent anything approaching a finish line today; it is the starting line. And we recognise that all that we have done by buying 51% of this club is earn the right to compete, and we intend to compete.
"We don't think this club needs a caretaker. We think this club needs a catalyst, and we intend to be that catalyst.
“We enjoyed the conversation today. We appreciate the supporters and shareholders taking time out of their busy day to spend it with us and look forward to the future.”
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