WYCOMBE WANDERERS SUPPORTERS TRUST

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WYCOMBE WANDERERS SUPPORTERS TRUST
Launch Meeting ofWycombe Wanderers Supporters
Trust

• Monday, 23rd August 2004

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AGENDA

• Welcome and Introduction
• Background to this meeting
• What has been achieved since the Open Meeting on
  19th April 2004
• The experiences of other Supporters Trusts
• Next Steps
• Question and Answer session
• Vote to form a Steering Committee for theWycombe
  Wanderers Supporters Trust
• Closing Remarks

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BACKGROUND TO THIS MEETINGWE ARE UP AND RUNNING!

• On April 19th 2004 the majority (69) of
  attendees at an Open Meeting voted to form a
  Supporters Trust.
• A Working Party has
• Consulted on both the constitution and the
  appropriate subscription level for membership of
  such a Trust
• Registered the Wycombe Wanderers Supporters Trust
• Established a website
• Opened bank accounts in the Trusts name
• Initiated a membership drive
• This meeting is to update you on the progress and
  to vote on taking the next steps

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THE CONSTITUTION

• The Working Party debated and consulted on an
  appropriate constitution.
• The constitution registered is based on model
  rules produced by Supporters Direct, the
  Government funded umbrella organisation for
  supporters trusts.
• For legal reasons the Trust has been registered
  as Wycombe Wanderers Supporters Society
  Limited
• Copies of the rules can be obtained from the
  website or by writing to Wycombe Wanderers
  Supporters Trust c/o 1 Allen Drive, Walters
  Ash, High Wycombe, Bucks HP14 4SS enclosing an
  A4 SAE with a 47p or 60p stamp.

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THE SUPPORTERS TRUSTIS REGISTERED

• Wycombe Wanderers Supporters Trust has been
  registered with the Financial Services
  Authority as an Industrial and Provident
  Society (I.P.S.) Registration number 29795R
• This form of organisational structure has
• Community orientation as an intrinsic part of
  its framework
• External regulation
• Not for profit motive
• Part of the growing Supporters Trust movement
• Financial responsibility appropriate for large
  scale fundraising and owning shares

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OBJECTS OF WYCOMBE WANDERERS SUPPORTERS TRUST
The Objects are the formal goals of the
Supporters Trust. The Objects of Wycombe
Wanderers Supporters Trust include

• To strengthen the bonds between the Club and the
  community that it serves and to represent the
  interests of the community in the running of the
  Club
• To benefit present and future members of the
  community served by the Club by promoting
  encouraging and furthering the game of football
  as a recreational facility, sporting activity
  and focus for community involvement
• To encourage the Club to take proper account of
  the interests of its supporters and of the
  community that it serves in its decisions
• To encourage and promote the principle of
  supporter representation on the board of any
  company owning or controlling the Club and
  ultimately to be the vehicle for democratic
  elections to the board.

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EXPERIENCES AT OTHER SUPPORTERS TRUSTS

• Supporters Direct
• Exeter City Supporters Trust

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DIRECTOR ON THE BOARD OF WYCOMBE WANDERERS FC plc

• The Members of Wycombe Wanderers Football Club
  Limited voted to convert to a Public Limited
  Company and to allow external investment in
  the football club.
• Irrespective of our personal views on the merits
  of this decision, we need to go forward in a
  positive and collective manner to uphold the
  values and heritage of Wycombe Wanderers Football
  Club.
• Provision has been made for the Supporters Trust
  to nominate a director to the board of Wycombe
  Wanderers Football Club plc.
• We need to buy 100,000 shares in the company.
• A partly-paid feature to the share subscription
  means that we can raise the 100,00 necessary
  over two years.

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SHORT MEDIUM TERM GOALS

• Short term goal
• Raise the 100,000 needed over two years to
  secure a board seat since supporter
  representation is a stated object and it is
  the most direct route to making other goals
  realisable.
• Medium term goals include
• Making the board role effective
• Understanding and representing the community
  interests
• Encouraging greater community involvement in
  the Football Club

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SUBSCRIPTIONS

• The Working Party debated and consulted on the
  subscription level.
• We need to raise 100,000 to buy shares in
  Wycombe Wanderers Football Club plc in order to
  qualify for a seat on the Board. Due to the
  partly paid option, we can do this over two
  years.
• Subscription target is 1,000 members subscribing
  60 p.a.
• Options available to date
• 5 p.c.m. by standing order for annual
  membership
• 60 p.a. by standing order to minimise
  administration
• Multi-year discounts 110 for two years or 150
  for three years
• 3 p.c.m. available to minimise exclusion

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MEMBERSHIP DRIVE

• The Working Party has mailed applications forms
  to
• Those who originally registered an interest in
  WWST (80)
• Members of Wycombe Wanderers Football Club
  Limited (500)
• Members of OWWSA and WWISC (Total 400)
• Season Ticket Holders (1,600 not Members)
• Application forms in future match day programmes
  Bristol City, Grimsby and Oxford United.
• Initial results are encouraging.

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POTENTIAL MEMBERS

• The Working Party has identified the following
  potential members
• Tony Adams the football squad
• Local businesses
• A junior members section
• Community entities
• You! If you have not already done so, please
  join yourself. We have application forms here
  tonight Return envelopes!
• Your friends and acquaintances. Please tell
  others of the WWST and ask them to join.

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THE WEBSITE www.wwst.org

• See www.wwst.org for information
• The website contains
• News and developments
• Application and standing order forms
• The Rules of the Supporters Trust
• An archive section with historical developments
• Link to Supporters Directs website

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STEERING COMMITTEE

• The Supporters Trust needs to form a Steering
  Committee to guide it to the next stage in its
  development.
• The tasks of the Steering Committee will
  include
• Raise the Trusts profile and increase membership
• Establish robust membership and accounting
  records
• Issue a membership share to each member
• Co-opt members onto the board of the Trust
• Appoint auditors
• Establish a date for and organise an AGM

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STEERING COMMITTEE (cont)

• The tasks of the Steering Committee will include
  (cont)
• Decide on an election process for Officers of
  the Trust as part of the AGM process.
• Organise a Newsletter and other ways of
  communicating with the membership and the
  community at large
• Fundraising
• Acquire shares in Wycombe Wanderers FC plc
• Decide on a procedure to appoint a director to
  the board of Wycombe Wanderers FC plc
• Liaise with the Football Club on behalf of the
  members

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STEERING COMMITTEE (Cont)

• There is a lot to be done!
• Volunteers with relevant skills are always
  welcome. Please make yourself known.

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CURRENT WORKING PARTY

• - Keith Blagbrough - Francis Glenister
• - Tim Goode - Martin Hamilton
• - Ian Mobsby - Reg Rundle
• - Andy Worboys
• All are willing to continue to serve as the
  Steering Committee.
• Others may be co-opted as required skill sets
  are identified.

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WHERE DO WE GO FROM HERE?

• Questions and Answers
• Vote to form a Steering Committee for the
• Wycombe Wanderers Supporters Trust

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QUESTION AND ANSWER SESSION

• Over to you!

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AGENDA

• Welcome and Introduction
• Background to this meeting
• What has been achieved since the Open Meeting on
  19th April 2004
• The experiences of other Supporters Trusts
• Next Steps
• Question and Answer session
• Vote to form a Steering Committee for theWycombe
  Wanderers Supporters Trust
• Closing Remarks

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PROPOSAL FOR ASTEERING COMMITTEE

• The motion is that a Steering Committee is
  created to guide the Wycombe Wanderers Supporters
  Trust to an AGM in the first 6 months of 2005 and
  that the current Working Party is mandated to
  form this Steering Committee.

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CLOSING REMARKS

• Fill out the application and standing order forms
  and leave them with us.
• Take away the invitation letters.
• Tell others of what is being organised.
• Encourage others to join the Supporters Trust.
• Keep the faith!

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APPENDIX

• Potential questions and associated answers.

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POTENTIAL QUESTIONS

• Who are Supporters Direct?
• What is a Supporters Trust?
• Why should we have a Supporters Trust at Wycombe
  Wanderers?
• What is the Wycombe Wanderers Founders Trust?
• How does a Supporters Trust fit in with the
  Founders Trust?
• How does a Supporters Trust fit in with
  membership of the Football Club?
• Why have a Supporters Trust as well as two
  supporters clubs?
• What can I join simultaneously?
• How do I volunteer to be involved?

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WHO ARE SUPPORTERS DIRECT?

• An organisation set up under a Government funded
  initiative
• Aim is to provide support, advice and information
  to supporters wishing to play a responsible part
  in the life of their club
• They help establish supporters trusts through the
  provision of practical and legal advice.
• They can provide some financial support for a
  percentage of the set up costs of a supporters
  trust.

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WHAT IS A SUPPORTERS TRUST?Goals (The Objects)
The Objects are the formal goals of the
Supporters Trust.

• Examples-
• To strengthen the bonds between the Club and the
  community that it serves and to represent the
  interests of the community in the running of the
  Club
• To encourage the Club to take proper account of
  the interests of its supporters and of the
  community that it serves in its decisions
• To encourage and promote the principle of
  supporter representation on the board of any
  company owning or controlling the Club and
  ultimately to be the vehicle for democratic
  elections to the board.

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WHAT IS A SUPPORTERS TRUST? Organisational
Characteristics

• Organisation of supporters open to all
• Democratically formed and run
• Not for profit
• Various organisational forms are possible
  including
• Legal Trust
• Company Limited by Guarantee
• Industrial Provident Society
• NoteSupporters Direct are constituted as a IPS

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WHAT IS A SUPPORTERS TRUST? Examples

• Over 100 Supporters Trusts are in existence
• Big clubs (Man United, Celtic, Spurs) and little
  clubs (Enfield, Halifax, Exeter)
• Many born of adversity eg Chesterfield and
  Northampton BUT this is not a requirement!
• Over 65,000 people are members of supporters
  trusts
• Some Trusts have representation at board level eg
  Peterborough
• Trusts own or control 8 clubs in England
  Scotland

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WHAT IS A SUPPORTERS TRUST? Fundraising

• Many if not most Supporters Trusts provide some
  form of fundraising for their club
• Where shares are available for purchase this is a
  popular way of providing funding as it also
  provides the basis for a voice in the running of
  the controlling company
• Other Trusts have made grants for specific
  purposes such as the running of the youth scheme
  or similar

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WHY SHOULD WE HAVE A SUPPORTERS TRUST AT WYCOMBE
WANDERERS?

• Body for all supporters to have a collective say
  in running their Club.
• To provide a vehicle for supporters to acquire a
  collective shareholding in the Club.
• Harnessing the collective power of supporters is
  more likely to provide an effective influence
  than will supporters acting individually.
• If we can purchase the 100,000 shares, to appoint
  a director to theboard of Wycombe Wanderers
  Football Club plc and thereby directlyrepresent
  the collective voice of supporters in the
  decision makingprocess at the football club.

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WHY SHOULD WE HAVE A SUPPORTERS TRUST AT WYCOMBE
WANDERERS?

• The ability of a Supporters Trust to BOTH raise
  fundingAND act as a voice for the collective
  views of a broadsupporter base means that its
  involvement in the affairsof the Football Club
  have the potential to be bothconstructive and
  sustainable.

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WHAT IS THE WYCOMBE WANDERERS FOUNDERS TRUST?

• The Wycombe Wanderers Supporters Trust is a
  separate entity from the Founders Trust and
  hence this explanation is intended for
  guidance only.
• Under the scheme of arrangement entered into by
  the 500 Members of Wycombe Wanderers Football
  Club Ltd, each of the existing 500 Members will
  be granted 1 Founder Share.
• The management of the affairs of Wycombe
  Wanderers Football Club plc will be decided by
  the majority vote of the shareholders of the
  plc. The plc has 4,000,000 of authorised
  share capital of which it is proposed to issue
  1,500,000
• Hence the Founder Shares will be in the minority
  in general voting.

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WHAT IS THE WYCOMBE WANDERERS FOUNDERS TRUST?

• Certain events will require a majority of the
  votes of Founder Shares - Selling the stadium
  - Disposing of the football club - Changing
  the business from that of a football club -
  Changing the rights of the Founder Shares -
  Winding up the company - Relocating the
  football club more than 5 miles from the current
  ground.
• When the right to a Founder Shares lapses (death
  or failure to remain a season ticket holder)
  then the Founder Share transfers to the
  Founders Trust. Founder Shares can not be
  transferred to others.
• The Founders Trust is an entity set up to become
  the ultimate holder of the 500 Founders Shares.

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WHAT IS THE WYCOMBE WANDERERS FOUNDERS TRUST?

• Initially the Founders Trust will have zero
  Founder Shares because they will be owned by
  the Founder Shareholders. But as the holdings
  lapse, the Founders Trust will build up its
  holdings ultimately holding all 500 Founder
  Shares.
• The 500 Members of Wycombe Wanderers Football
  Club Ltd will be invited to join the Founders
  Trust.
• Future season ticket holders of 3 years standing
  will be able to join the Founders Trust but
  will not be able to become Founder Shareholders
  in their own right.
• The Founders Trust can appoint a director to the
  board of Wycombe Wanderers Football Club plc
  and can thereby exert influence on the affairs
  of the Club.

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HOW DOES A SUPPORTERS TRUST FIT IN WITH THE
FOUNDERS TRUST?

• The Founders Trust is simply (but importantly)
  the entity set up to become the ultimate
  holder of the 500 Founder Shares which have
  special voting rights in specific circumstances.
• The Founders Trust does not have broader
  community based objects.
• The Founders Trust is not a vehicle for
  fundraising or holding ordinary shares in
  Wycombe Wanderers Football Club plc.
• Both members of the Supporters Trust and the
  ex-members of the Football Club should share a
  common interest in the well being of Wycombe
  Wanderers and in preserving its values and
  heritage.
• Ex-members of the Football Club are urged to
  join the Supporters Trust to maximise their
  continuing influence on the Football Club.

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HOW DOES A SUPPORTERS TRUST FIT IN WITH
MEMBERSHIP OF THE FOOTBALL CLUB?

• It is no longer possible to be a member of the
  Football Club.
• Ex-members of the Football Club will become
  Founder Shareholdersand will be invited to join
  a Founders Trust.
• Both members of the Supporters Trust and the
  ex-members of theFootball Club should share a
  common interest in the well being ofWycombe
  Wanderers and in preserving its values and
  heritage.
• Ex-members of the Football Club are urged to join
  the SupportersTrust to maximise their continuing
  influence on the Football Club.
• Membership of a Supporters Trust is not
  restricted to season ticket holders rather it is
  open to every supporter and community member.
• There is no upper limit to membership of a
  Supporters Trust.

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WHY HAVE A SUPPORTERS TRUST AS WELL AS TWO
SUPPORTERS CLUBS?

• Existing supporters clubs should continue for the
  services that they provide
• The constitution of the Supporters Trust is
  registered in a more formal way
• And thereby provide appropriate formality and
  transparency around its financial affairs
• Most appropriate vehicle for larger scale
  fundraising and a collective share ownership
• The Supporters Trust has the right to appoint a
  boardmember to Wycombe Wanderers Football Club
  plcsubject to buying 100,000 shares.

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JOIN EVERYTHING

• An individual may simultaneously
• Be a Founder Shareholder
• Be a member of the Founders Trust
• Be a shareholder in Wycombe Wanderers Football
  Club plc
• Be a member of OWWSA
• Be a member of WWISC
• Be a member of Wycombe Wanderers Supporters
  Trust
• These are NOT mutually exclusive positions!

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VOLUNTEERS

• The Supporters Trust needs volunteers
• Please provide your contact details and skills
  offered on the forms provided
• We will write to all those who provide an address
  inviting you to join once the Supporters Trust is
  launched
• Those who volunteer time or skills may be
  contacted to be involved further