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Krennaugh and Co. You dumb schmucks!

Discussion in 'Rugby League Forum' started by Matabele, Dec 14, 2007.

  1. Matabele

    Matabele Well-Known Member

    +466 / 6
    Nomination Withdrawn

    We are writing to you today to inform you of our decision to withdraw our nomination as Directors for the Manly-Warringah Rugby League Football Club (Football Club). We had a number of robust discussions with the current Chairman of the Football Club Bob Reilly however those discussions have broken down as the current Board has made it clear they want to remain separate. Our philosophy from the start was to bring the two organizations closer together whilst protecting the Preference Share; however that no longer seems possible.

    The key reasons we are withdrawing our nominations are as follows:

    1. We do not feel that the Election of Directors process for the Football Club has been run in accordance with the Corporations Act and are therefore not prepared to be Directors of a non conforming organisation
    2. We asked for the Proxy form to be revised and resent to Members as it was sent out prior to Director Nominations closing. We were therefore concerned that Members didn't have the opportunity to vote for the Board they wanted
    3. We feel that personal attacks and the misrepresentation of our position by the Deputy Chairman are unacceptable. The fact is that the Preference Share cannot be altered without a Member vote
    4. We want the Football Club to pay its own way as 21.5% Shareholder and think it is fair that all Stakeholders pay their share of Budget deficits. To date the Penn and Delmege families have paid 100% of the debts of the Company
    5. We think it is best if the two organizations maintain their separation with the Sea Eagles focusing on the NRL competition including the NRL Team, National Youth Competition, plus Premier League and Junior Reps with the Football Club focusing on raising money to pay for its obligations

    We will leave it up to the Football Club Board to inform you what this means to your Football Club Membership. We would like to remind you that we have Sea Eagles - Screaming Eagles Memberships available from $35 which gives a direct link to the team and development of the game.

    We would like to thank Kerry Sibraa in particular for his hard work on the Sea Eagles Board in working on funding alternatives for Brookvale Oval. We look forward to working with Kerry and the second Football Club representative on our Board to keep the process moving forward in the future.

    We would like to thank all of the people that have contacted us during this period for your loyal support and assure you that we are working harder than ever to make the Sea Eagles the best team in the NRL and ensure that we have the best facilities for both our fans and players.

    Scott Penn
    Chairman & Co-Owner
    Manly-Warringah Sea Eagles Ltd
    Max Delmege
    Co-Owner & Major Sponsor
    Manly-Warringah Sea Eagles Ltd

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