Sheffield Wednesday - Owls EGM: No Action Needed
UK time is: 07:21:25
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

Owls EGM: No Action Needed

It took the Owls board and shareholders all of 15 minutes to decide that no changes had to be made to the current financial strategy at the extraordinary general meeting today.

Just 40 shareholders arrived at the meeting at Hillsborough, called by Owls chairman Dave Allen last month, with Allen revealing it was simply a procedural matter to satisfy a section of the Companies Act - and nothing more.

He went on to say that the EGM had been called due to the way the Owls balance sheet was presented - a technical detail that was unintentionally overlooked by the board.

Allen said: 'The bank, who are the main players, the auditors and the board are comfortable with the financial situation of the club. I don't say we are happy with it: we'd like to have nil borrowings. But we are comfortable.'

Finance director Bob Grierson did most of the talking, echoing the comments made by the Owls chairman that there was no need for any change to the current financial strategy at the club.

He added: 'Over the last three years, the directors have stabilised the financial position.'

The board do not believe that at this stage anything should be done other the strategy of financial prudence and the search for a potential investor.'




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!


Click here to join in the debate on the club forum.

The Journalist

Writer: Nick Mail feedback, articles or suggestions

Date:Thursday February 8 2007

Time: 2:31PM

Your Comments (oldest first)

Change to most recent first
Surprise, surprise...
nickswfc
Report Abuse
08/02/2007 14:46:00

So the news is... there is no news.
Auckland Owl
Report Abuse
08/02/2007 20:19:00

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Sheffield Wednesday Articles

Archived Sheffield Wednesday Articles

List All Vital Wednesday Articles
Have your say
Click here to suggest an article
Click here to suggest a poll
ScoopDragon Publishing Entire League Network of Sites

Vital Members League (view all)

League Table (view table)

Team P W D L GD Pts
12. Wolves 5 2 1 2 -1 7
13. Reading 5 1 3 1 1 6
14. Fulham 5 1 2 2 0 5
15. Sheff Wed 5 1 2 2 -1 5
16. Forest 5 1 2 2 -1 5
17. Preston 5 1 2 2 -2 5
18. Brentford 4 1 1 2 -1 4

Sheffield Wednesday Fixtures (view all)

Breaking League News

LUFC On This Day - September 2nd
Leeds Utd : 02/09/2015 07:14:00
Two more added to international list
Birmingham : 02/09/2015 07:00:00
LUFC Stokes and Phillips on target in Leeds win
Leeds Utd : 01/09/2015 20:51:01
Why Are We Unbeaten?
Birmingham : 01/09/2015 20:46:01
LUFC Best Transfer Window In Years
Leeds Utd : 01/09/2015 20:00:00

Current Site Poll (view all polls)

Is Forestieri a good signing for Wednesday?
Suggested By:  Vital Wednesday
Yes 93%
No 7%