Welcome & IntroductionsWelcome & Introductions TSTS Update on Trust and Structures Update on Trust and Structures TSTS Update on Football Club Update on Football Club DWDW Update on Playing SquadUpdate on Playing SquadDRDR Update on Operational IssuesUpdate on Operational Issues

MCMC Break (15 minutes)Break (15 minutes) Future Plans Future Plans TS TS Q & AQ & A ALLALL

• MEMBERSHIP APPROXIMATELY MEMBERSHIP APPROXIMATELY 850850• FOCUS ON COMMUNICATION & FOCUS ON COMMUNICATION & VISIBILITYVISIBILITY• LEGAL BILL OUTSTANDING NOW £LEGAL BILL OUTSTANDING NOW £55KK• CLEAR LINES OF RESPONSIBILITY CLEAR LINES OF RESPONSIBILITY ESTABLISHEDESTABLISHED• COMPANY STRUCTURES WORKINGCOMPANY STRUCTURES WORKING• REPORTING STRUCTURES ESTABLISHEDREPORTING STRUCTURES ESTABLISHED

CURRENT STRUCTURESCURRENT STRUCTURES

DON WOODWARD (JOINT DON WOODWARD (JOINT CHAIRMAN)CHAIRMAN)IVOR BEEKS (JOINT CHAIRMAN)IVOR BEEKS (JOINT CHAIRMAN)MATT CLARKEMATT CLARKEJOHN DERBAN (OWWSA)JOHN DERBAN (OWWSA)BRIAN KANEBRIAN KANEDAVID ROBERTONDAVID ROBERTON

TRUST EXECTRUST EXECTREVOR STROUD (CHAIRMAN)TREVOR STROUD (CHAIRMAN)COLIN TREACHER (CO SECRETARY)COLIN TREACHER (CO SECRETARY)DAVID COOK (COMMUNICATIONS)DAVID COOK (COMMUNICATIONS)

DON WOODWARDDON WOODWARD DAVID ROBERTON DAVID ROBERTON MATT MATT CLARKECLARKEGARRY HEATHGARRY HEATH KEITH BLAGBROUGH KEITH BLAGBROUGH ALAN CECILALAN CECILTIM GOODETIM GOODE REG RUNDLE REG RUNDLE

TRUST BOARD:- WEEK TWOTRUST BOARD:- WEEK TWO

TRUST EXEC:- WEEK ONE/ TRUST EXEC:- WEEK ONE/ THREETHREE

GROUP EXEC :-WEEK FOURGROUP EXEC :-WEEK FOUR

FOOTBALL CLUB:- MONTHLYFOOTBALL CLUB:- MONTHLY

FRANK ADAMS:- MONTHLYFRANK ADAMS:- MONTHLY

• Agree priorities and monitor performance Agree priorities and monitor performance of the two subsidiariesof the two subsidiaries

• Co-ordinate input from supporters in Co-ordinate input from supporters in support of the Clubsupport of the Club

• Provide operational support as and when Provide operational support as and when neededneeded

• Co-ordinate feedback from supportersCo-ordinate feedback from supporters

• Liaise with Club re specific issuesLiaise with Club re specific issues

• Drive fundraising efforts e.g. Spend & Drive fundraising efforts e.g. Spend & RaiseRaise

• Developing relationships withDeveloping relationships with

Ex-Players AssociationEx-Players Association

OWWSAOWWSA

WWISCWWISC

BFPBFP

• Driving the 125Driving the 125thth anniversary anniversary

Wimbledon game!Wimbledon game!

MON eveningMON evening

Museum memorabilia Museum memorabilia exhibitionexhibition

End of season legends gameEnd of season legends game

• Continuing the traditional Trust Continuing the traditional Trust rolerole

ideas@wwfc.comideas@wwfc.com

suggestion feedbacksuggestion feedback

discussions with Clubdiscussions with Club

DETAILS 29DETAILS 29thth JUNE 2012 JUNE 2012

• Trust Bought £ 5.9m Loans from S HayesTrust Bought £ 5.9m Loans from S Hayes

• Trust had put in £ 600k from April to JuneTrust had put in £ 600k from April to June

• Directors introduced some funds (FUNDING Directors introduced some funds (FUNDING slide)slide)

• Trust bought 100,000 ordinary voting shares Trust bought 100,000 ordinary voting shares 100%100%

• Ivor Beeks gifted Trust 315,100 non voting Ivor Beeks gifted Trust 315,100 non voting sharesshares

• Steve Hayes gifted Trust 315,100 non voting Steve Hayes gifted Trust 315,100 non voting sharesshares

DETAILS 29DETAILS 29thth JUNE 2012 JUNE 2012

• Trust then owned WWFC and created FALL Trust then owned WWFC and created FALL (Legacy)(Legacy)

• WWFC transferred AP & TG to FALLWWFC transferred AP & TG to FALL

• FALL Took on Loan to S HAYES ( £ 2m)FALL Took on Loan to S HAYES ( £ 2m)

• FALL took on Kane family loan FALL took on Kane family loan

• FALL assumed Football League £937,000 grantFALL assumed Football League £937,000 grant

• Balance of FALL lent by TRUSTBalance of FALL lent by TRUST

DETAILS 29DETAILS 29thth JUNE 2012 JUNE 2012

• Trust then loaned balance of acquired loans back Trust then loaned balance of acquired loans back to WWFCto WWFC

• WWFC wrote off those loansWWFC wrote off those loans

• WWFC then wrote back the negative goodwillWWFC then wrote back the negative goodwill

• WWFC balance improved to approx £ 300k deficitWWFC balance improved to approx £ 300k deficit

Details 29Details 29thth June 2012 June 2012

• Directors put in some temporary funds to :-Directors put in some temporary funds to :-

1.1.Pay June payroll balancePay June payroll balance

2.2.Pay HMRCPay HMRC

3.3.Help pay off bank overdraft Help pay off bank overdraft

4.4.Catch up oldest creditorsCatch up oldest creditors

• Year to June 2012 trading loss was £ 1.5mYear to June 2012 trading loss was £ 1.5m

• Redundancies requiredRedundancies required

• Squad cost shavedSquad cost shaved

• C Of Excellence closure in processC Of Excellence closure in process

• Review of all activities undertakenReview of all activities undertaken

• Discussions with all key partnersDiscussions with all key partners

• Downsizing mainly completed but took longer Downsizing mainly completed but took longer due to previous process delays (Inc Wasps) so due to previous process delays (Inc Wasps) so July and August payroll higher than planned.July and August payroll higher than planned.

• First Matches run with new staff – lots of visiting First Matches run with new staff – lots of visiting away fansaway fans

• Huge disappointment – Contracts are not what Huge disappointment – Contracts are not what we were told in a number of areas , neglect of we were told in a number of areas , neglect of previous Management evidentprevious Management evident

• Prep & Revision of current year budget , Prep & Revision of current year budget , amended as detail amended as detail emergesemerges

• June Audit , Change banks, apply Club ethos June Audit , Change banks, apply Club ethos

• Get a grip of the Debtors , Creditors and cash-Get a grip of the Debtors , Creditors and cash-flow - (Discuss Wasps)flow - (Discuss Wasps)

• Original plan was for £400k lossOriginal plan was for £400k loss

• Current aim is to work to approx £550-£600k Current aim is to work to approx £550-£600k lossloss

• FALL help with cash-flow by delaying cash for FALL help with cash-flow by delaying cash for rentrent

• Massive pressures as Wasps attendances are Massive pressures as Wasps attendances are down and completion delayed several months and down and completion delayed several months and cash still not incash still not in

• Cash supported by Ibe discounting and Beavon Cash supported by Ibe discounting and Beavon salesale

• Most high costs (including Manager release) Most high costs (including Manager release) came in first 4 months.came in first 4 months.

• Previous accounts were so confused (mixed with Previous accounts were so confused (mixed with Wasps)Wasps)

• Gate receipts are way down on previous years Gate receipts are way down on previous years

(Not just a WWFC problem)(Not just a WWFC problem)

• We are in a lower league but fans generally are We are in a lower league but fans generally are not travelling and our poor on pitch showing has not travelling and our poor on pitch showing has lost us support at a time we hope owning our club lost us support at a time we hope owning our club would see an increase not a declinewould see an increase not a decline

• Need to replace income we thought was there, Need to replace income we thought was there, but isn’tbut isn’t

( Shirt deal , stands etc)( Shirt deal , stands etc)

• 2013/14 can be breakeven but the squad spend 2013/14 can be breakeven but the squad spend will have to fall again unless we have a cup run will have to fall again unless we have a cup run or are lucky enough to sell some playersor are lucky enough to sell some players

• We will do our best to generate NON MATCH We will do our best to generate NON MATCH income (this will take time)income (this will take time)

• To replace working capital with a Bank loan To replace working capital with a Bank loan (FALL)(FALL)

• To discuss with shareholders / Trust, Fund To discuss with shareholders / Trust, Fund raising , capital restructure of WWFC to give the raising , capital restructure of WWFC to give the Club a sound operating baseClub a sound operating base

• To confirm the CLUB should remain supporter To confirm the CLUB should remain supporter owned – we have now secured our ground , so we owned – we have now secured our ground , so we have optionshave options

• To consider closely volunteer help to reduce To consider closely volunteer help to reduce match-day match-day costscosts

PRE-TAKEOVERPRE-TAKEOVER

• Playing budget made based upon expected Playing budget made based upon expected incomeincome

• Budget agreed with Manager Budget agreed with Manager

• Suggested signings by GW delivered Suggested signings by GW delivered

OBJECTIVEOBJECTIVE

• SSpend budget to provide a team capable of pend budget to provide a team capable of being being

very competitive in League 2very competitive in League 2

• Squad to be based upon a balance of Squad to be based upon a balance of experience andexperience and

youthyouth

OUTCOME TO DATEOUTCOME TO DATE

• Watford and York positive Watford and York positive • Beavon departure Beavon departure • Injuries cause problems Injuries cause problems • Change of Manager Change of Manager • Portsmouth , Fleetwood excellent winsPortsmouth , Fleetwood excellent wins• First half of Port Vale competitive First half of Port Vale competitive • Injuries again cause problems Injuries again cause problems • Barnet and Oxford not greatBarnet and Oxford not great

ONGOING ACTIVITIESONGOING ACTIVITIES

• Weekly meeting with ManagerWeekly meeting with Manager

• Football and managerial matters Football and managerial matters discusseddiscussed

• Actively seeking alternative squad Actively seeking alternative squad playersplayers

• Post takeover, culture change requiredPost takeover, culture change required

• Staff de-motivatedStaff de-motivated

• Good team spirit developedGood team spirit developed

• Winning and better working environment Winning and better working environment createdcreated

 

• Obvious changesObvious changes

• Bar pricingBar pricing

• Kiosk pricingKiosk pricing

• Food and beverage quality and deliveryFood and beverage quality and delivery

• More work to do on beer provisionMore work to do on beer provision 

• We are making good progressWe are making good progress

• We are not there yetWe are not there yet

• Bar manager being recruitedBar manager being recruited

• Delivering better customer service in Delivering better customer service in many areasmany areas

• Not everything is working as we would Not everything is working as we would likelike

• Low crowdsLow crowds

• Low take up of buses has led to removal Low take up of buses has led to removal of Stokenchurch serviceof Stokenchurch service

• Committed to using Cressex and Committed to using Cressex and Chesham servicesChesham services

• We are heading in the right directionWe are heading in the right direction

• KPI's in place to monitor performanceKPI's in place to monitor performance

• No more skeletons in cupboards (Please!)No more skeletons in cupboards (Please!)

• Positive direction from herePositive direction from here  

• We want feedback, good or bad. We want feedback, good or bad.

• Please email me at Please email me at Matt.clarke@wwfc.com

• Use Use ideas@wwfc.com

• Hopefully not too many to Hopefully not too many to complaints@wwfc.com

• Every comment received gets a response. Every comment received gets a response.

• All of you can helpAll of you can help

• Trust Members and fans can be our best Trust Members and fans can be our best AmbassadorsAmbassadors

• Please help drive custom to the Club on Please help drive custom to the Club on match and non match days match and non match days

• We need 850 people telling family and We need 850 people telling family and friends about the changes and improvementsfriends about the changes and improvements

• Remember that feeling when the Remember that feeling when the takeover went through takeover went through

• This is This is OUROUR Club Club

• Thank you for listeningThank you for listening

OBJECTIVESOBJECTIVES• To manage the three companies, in a way that To manage the three companies, in a way that gives stability, but allows members a route to gives stability, but allows members a route to joining the Trust board and then the subsidiary joining the Trust board and then the subsidiary boards (after 12 months)boards (after 12 months)

• To prevent the hijacking of either subsidiary To prevent the hijacking of either subsidiary boardboard

•To ensure that AP and TG are not sold unless a To ensure that AP and TG are not sold unless a significantsignificant percentage of supporters agree percentage of supporters agree

PROPOSALPROPOSAL

• Trust board elected as current (annual 33% Trust board elected as current (annual 33% retirement)retirement)

• Subsidiary boards appointed by Trust Board, Subsidiary boards appointed by Trust Board, with a majority of Trust Directorswith a majority of Trust Directors

• Trust Directors to qualify for subsidiary boards Trust Directors to qualify for subsidiary boards after 1 yearafter 1 year

• Other non Trust Directors to be co-opted on to Other non Trust Directors to be co-opted on to subsidiary boards based on skills and experience.subsidiary boards based on skills and experience.

BACKGROUNDBACKGROUND

• Founder Shareholders were given “enshrined Founder Shareholders were given “enshrined rights”rights”

• Founder Shares were in WWFCFounder Shares were in WWFC

• Enshrined rights did not specifically prevent sale Enshrined rights did not specifically prevent sale of APof AP

• As Founder members die or lapse, Trust takes As Founder members die or lapse, Trust takes control of sharescontrol of shares

BACKGROUNDBACKGROUND

• Over time, Trust will own a majority of Founder Over time, Trust will own a majority of Founder sharesshares

• Therefore in theory, if Trust hijacked then Therefore in theory, if Trust hijacked then subsidiaries and therefore AP become vulnerable.subsidiaries and therefore AP become vulnerable.

PROPOSALPROPOSAL

• New category of Trust membership (Legacy New category of Trust membership (Legacy Membership) to be establishedMembership) to be established

• Qualification will be as for founder shareholders Qualification will be as for founder shareholders (season ticket holder for more than 3 seasons)(season ticket holder for more than 3 seasons)

• For a very short period, any season ticket holder For a very short period, any season ticket holder or any supporter who has attended more than or any supporter who has attended more than 50% of home games for last two seasons, will also 50% of home games for last two seasons, will also qualifyqualify

• “ “Hard rights” will be granted to Legacy Hard rights” will be granted to Legacy members and will need approval of 75% of Legacy members and will need approval of 75% of Legacy membersmembers

PROPOSALPROPOSAL

• Hard rights to include sale of AP or TG, naming Hard rights to include sale of AP or TG, naming rights to Stadium, allowing majority stake holding rights to Stadium, allowing majority stake holding in WWFC in WWFC

• Additional “soft rights” will be granted to all Additional “soft rights” will be granted to all Trust membersTrust members

• Soft rights to include:- changing of the quarters, Soft rights to include:- changing of the quarters, changing strip more frequently, etc (suggestions changing strip more frequently, etc (suggestions very welcome)very welcome)

PLANNED OUTCOMEPLANNED OUTCOME

• Veto of key issues spread across significant Veto of key issues spread across significant number of supportersnumber of supporters

• Route for Trust members to join Trust Board and Route for Trust members to join Trust Board and then subsidiary boards (subject to 12 month then subsidiary boards (subject to 12 month qualification)qualification)

• Stable management team for all 3 entitiesStable management team for all 3 entities

• Right of veto for Trust members on key Right of veto for Trust members on key “emotional” issues“emotional” issues

• EGM calling clause if majority of members EGM calling clause if majority of members requestrequest

• Initial legal view sought (complete)Initial legal view sought (complete)

• Consultation period for members to consider Consultation period for members to consider and suggest changes/alternatives (30and suggest changes/alternatives (30thth November 2012)November 2012)

• Final Proposal constructed and legal advice Final Proposal constructed and legal advice sought (December 31sought (December 31stst 2012) 2012)

• Approval sought from Members at AGM (Feb Approval sought from Members at AGM (Feb 2013)2013)

Questions/suggestions to Questions/suggestions to trevor@wycombewandererstrust.comtrevor@wycombewandererstrust.com

• On field performanceOn field performance

• Financial stabilityFinancial stability

• FundraisingFundraising

• Continued improvement on F&BContinued improvement on F&B

• Your feedback and supportYour feedback and support

YOUR CLUB YOUR CLUB NEEDS YOUNEEDS YOU