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Archived News from July 2009

CLUB AGM NEWS
20th July 2009 17:28


AGM is a happier affair, despite loss
CHAD.co.uk, 15 July 2009, By John Lomas

MANSFIELD Town's first annual meeting under the new club owners was a much happier and open affair tonight after all the hostilities of the Keith Haslam era.

http://www.chad.co.uk/stags/AGM-is-a-happier-affair.5463947.jp

The directors reported a loss of £151,563 for the final year of the Haslam ownership to April 2008 and admitted next year's figures would not be much better due largely to the 'horrendous legal costs' of the takeover which wasn't finally completed until December.
They stressed they needed fans and businesses to continue backing them as much as ever as they couldn't do it alone.
New club financial director Wincent Kordula was on hand to answer questions on the figures, but chairman Andy Perry was unable to discuss specific figures on the ground rent as it was part of a confidentiality agreement.
Mr Perry did announce that the club were very close to an agreement with the Stags Fans United organisation to get a fan on the board and it had already been agreed they would create a non-executive director's post for a supporter to take up once an investment from SFU was agreed.
Shareholders were told that the recent dividend pay-out has seen £23,389 left in the club by fans waiving their rights to the money and the club are still awaiting decisions on a further £36,452.
A total of £18,475 has been paid out on the dividend so far.
Asked about more 'non-football' use of Field Mill, chief executive Stewart Rickersey said the club had agreed with the Safety Advisory group to 'broaden' their opportunities to stage such things as pop concerts.
Andy Perry said these could be staged on a covered area in front of the West Stand, mostly off the pitch.
Perry was re-elected as chairman and fellow 'Three Amigos' Andy Saunders and Steve Middleton as directors, while Landin Wilcox were re-elected as auditors.
It was announced that problems continue over kit suppliers Canterbury Europe going into administration.
The first team away kit has arrived and 95 per cent of the home kit and training kit. But the club are concerned over supply of replicas for fans and would expect to sell 200-300 at the pen day a week on Sunday.
They are under contract to Canterbury and cannot look elsewhere until Canterbury tell them they cannot supply what has been ordered. Mr Rickersey said the club expected to know that by Monday.
The evening ended with manager David Holdsworth talking about his first six months in charge and his hopes for the new season.
"We will work our socks off to improve every day," he said. "We all want to get back into the League and a cup run would be good for confidence and finance too.
"Trust me, I hope I can deliver and you won't get anyone more committed than me. I sleep this."
Holdsworth said he was offered 700-800 players during the summer and interviewed about 70 to make sure he had the right type of dressing room with big, strong, athletic players and no 'big-time Charlies'.
The squad will continue to use the John Fretwell Sporting Complex at Sookholme for a third season.

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Last Haslam era accounts show £151,563 loss
CHAD.co.uk, 15 July 2009, By John Lomas
MANSFIELD Town's new owners will report a trading loss of £151,563 for the financial year ending April 2008 to shareholders at tonight's annual meeting at Field Mill.

http://www.chad.co.uk/stags/Last-Haslam-era-accounts-show.5460212.jp

This was, in effect, the situation taken on by the 'Three Amigos' when they bought the club last summer and the figures reflect the final year under previous owner Keith Haslam before Andy Perry, Andy Saunders and Steve Middleton took over the reins.

That figure is after interest and tax adjustments have been made.
The accounts also show the revaluation of Field Mill and transfer to landlord Mr Haslam.

An outdated 2007 valuation of £550,000 saw the ground and freehold land revalued at market value by a credible third party (Knight Frank LLP) and found to be worth over £1.5m at £1,529,015 in 2008.

The stadium buildings and land were then sold as part of the club acquisition on 9th December 2008.

The 2007 debtors' figures of £832,962 rose to £962,532 which included an outstanding director's loan to Keith Haslam of £32,794. No interest was charged on that loan and it was repaid on 9th December as part of the takeover deal.

Of current assets, the club saw cash at bank and in hand drop from £214,739 to £47,094 over that 12 month period.

Although questions will be taken on the accounts tonight from the club directors and new financial director Wincent Kordula, as the figures do not reflect the activities of the club since the new owners took over, the evening will be looking much more towards the future.

Andy Perry will outline plans for taking the club forward in the chairman's report to the meeting which will chronicle work undertaken by the new owners since July 2008.

This will include a contribution from manager David Holdsworth.
Landin Wilcock are expected to be re-elected as auditors for the year ending 30th June 2009 and, accordance with the Articles of Association,

Andrew Perry will be looking for re-election as chairman and Andrew Saunders and Steve Middleton as directors.

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