QPR's AGM - A Report

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Update: A fairly comprehensive report of the AGM, by fan, Tracy Stent, which was posted on various fan boards - AGM Report


QPR Official Site - AGM - IN BRIEF

Annual General Meeting - Monday 14th April - Loftus Road, W12

In attendance: Alejandro Agag (Managing Director); Gavin Taylor (Chief Financial Officer); Gianni Paladini (Chairman); Ali Russell (Deputy Managing Director); Marco Rapini (Director).

The nine (ordinary) resolutions were as follows:

1. To receive and approve the Company's accounts and reports of the directors and the auditors for the year ending May 31st 2007.

2. To re-elect Flavio Briatore as a director.

3. To re-elect Bruno Michel as a director.

4. To re-elect Alejandro Agag as a director.

5. To re-elect Gavin Taylor as a director.

6. To re-elect Amit Bhatia as a director.

7. To re-elect Marco Rapini as a director.

8. To re-elect Gianni Paladini as a director.

9. To re-appoint Shipleys LLP as auditors.

All nine resolutions were passed.



The one (special) resolution was as follows:

1. To substitute the existing Articles of Association for the new Articles of Association.

The resolution was passed.

In general

AA addresses the floor, outlining brief plans for the future, both on and off the field.

AA explains that the Club was in a critical financial state before the new shareholder consortium arrived.

AA explains that the 'footballing' goal was to preserve our Championship status, and to build for the Premier League. A four-year plan was established and they are 'very satisfied' with the progress that is being made.

AA explains that the fans will play a 'crucial role' in the future of the Club.

AA explains that Queens Park Rangers Football Club will remain a private limited company. All minority shareholders will remain.

AA explains that the current approximate breakdown of shares is as follows: Sarita - 57 per-cent; Bernie Ecclestone - 15 per-cent; Mittal family - 20 per-cent; Flavio Briatore - 5 per-cent; Shareholders - 3 per-cent.

AA explains that there are currently 11 million shares in issue at 1 pence each.

Other issues

Season Tickets - AR explains that prices will increase in some areas, but a final decision on the prices has not been made yet. An announcement will be made in the 'coming weeks.'

Stadium Development - AA explains that there are on-going discussions with various parties regarding stadium development. AA explains that there will be changes in the summer, aimed at 'maximising revenues.'

Luigi De Canio - AA explains that the only reason Luigi isn't conducting press conferences in English is because he doesn't want to 'misinterpreted'. GP explains that Luigi is happy here and that stories linking him with a return to Italy because he is 'home-sick' are false, because he only has one member of his family in his country of birth.

Youth Department - GP explains that there are on-going plans to take the Youth Department into an 'elite' band.

Car Giant - AA explains that an 'amicable agreement' has been made with Car Giant to cease the partnership from next season. AA explains that the Commercial Department are in discussions with three or four interested parties regarding shirt sponsorship, but insists they will not sell cheaply.

Transfers - AA explains that there will be 'reinforcements' in the next transfer window and that GP is working on a number of 'exciting' deals.

Disabled Facilities - AR explains that the disabled facilities are a 'priority area' in the new stadium development plans.

Pre-Season Tour - GP explains that Italy or Spain are 'viable options' for a summer tour, but insists an announcement will only be made when contracts have been signed.

ABC Loan - AA explains that the ABC loan has not yet been re-paid, but talks are on-going with different parties to refinance the loan before the July 31st deadline. AA explains that a solution will be found before this date. QPR

Also: Past AGMs