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    11 March, 2005

    City: My letter to the Club

    I wrote to the Chief Executive and to the Company Secretary as a shareholder in Cardiff City Football Club (Holdings) Ltd. The letter incorporates some points raised with me by other fans. I have also been grateful for the advice given to me by fans with relevant professional skills in law and accountancy. Cardiff City fans are a talented lot!

    The core text of the letter follows:

    I am writing as a shareholder in Cardiff City Football Club (Holdings) Ltd to ask for some information. My share certificate is number XXX, which you sent me on XX XXXXXXXXXX 200X. I am also writing on behalf of other shareholders who have contacted me.

    As a longstanding supporter, and as a season ticket holder, I wish the club well in its continuing efforts to achieve a satisfactory resolution to the stadium situation. The new stadium plan, if brought to fruition, will provide a strong base for the club.

    I have read with interest the accounts recently released for Cardiff City Football Club (Holdings) Ltd, Cardiff City Football Club Ltd, and Rudgwick Ltd to the end of May 2004. I note what the auditors say about the importance of the stadium project in the Going Concern section of their report.

    I also note that all three financial statements refer to plans by the Directors to arrange a financial restructuring of the company after May 2005. I would be grateful if you could advise me whether that still remains the plan.

    I would also be grateful if you could advise me who holds the £24 million in loan notes referred to in Post balance sheet events section of the Directors’ Report. I ask this since the only significant asset of Cardiff City Football Club (Holdings) Ltd is its stake in the club. In particular, I would like to know whether the loan notes are secured or unsecured, and whether the holder or holders of the loan notes is/are a ‘connected person’. I would alos like to know what are the terms of the loan notes, and what rate of interest is being paid on them.

    I would be grateful if you could advise me whether the club is still paying a management fee to Rudgwick Ltd, and if so, what has been paid since 31 May 2004.

    Please could you also inform me what rate of interest is being paid in this financial year by the club on its loan from Rudgwick Ltd.

    I would be grateful if you could supply me with minutes of all board meetings of Cardiff City Football Club (Holdings) Ltd since July 31st 2003.

    I would also be grateful if could advise me when the 2003 accounts of Cardiff City Football Club (Holdings) Ltd were sent to shareholders, as I do not appear to have received them.

    I would be grateful if you could advise me whether any AGMs or EGMs of Cardiff City Football Club (Holdings) Ltd have been held since 31st July 2003. If so, please could you forward the Minutes, and advise me when shareholders were told about these.

    Please could you also advise me when the AGM of Cardiff City Football Club (Holdings) Ltd to receive the Financial Statements for the year to 31 May 2004 will be held.

    Finally, I would be grateful for a copy of the share register of the club.

    I believe that there are many fans who feel that the more information that the club is prepared to share, the greater will be its credibility in dealing with the difficulties that it currently faces.


    Yours sincerely,



    Leighton Andrews AM

    5 comments:

    Sports Junky said...

    I agree,

    I love Football. and recently I have bought stock in it. Not like real stock on Wall street, but a stock market that is strictly for sports.

    You have seen it? Its pretty cool. You buy issues for your favorite teams and you make real money. Not like a fake stock simulator. I cash out Dividends each time the team wins. Also I can sell my team stock when the price goes up.

    check it out if something like this interests you.
    heres a link http://allsportsmarket.com
    you can log in and check it out for free..

    They just released IPO'S for Football this week, so there are alot of good deals there.

    Keep up the good work on your blog!
    -Erik

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