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Shareholders Association Release
27th August 2004


1. Last night the Everton Shareholders Association (EFCSA) held an open
forum in preparation for the Extraordinary General Meeting (EGM) scheduled
for Thursday 9th September.

2. The terms of the EGM require the Board to present a satisfactory
strategic plan which will restore Everton’s fortunes or step aside for a new
Board capable of doing so.

3. The meeting called into serious question the current directors
performance in respect of their fiduciary duties, and there was barely
concealed fury at the prospect of the sale of Wayne Rooney prior to the EGM.

4. Steve Allinson, Chairman of the EFCSA, said “It is unbelievable that a
Board of Directors would even consider the step of selling by far the
largest asset of any company just a matter of days before they are required
by law to answer legitimate questions over their competence”.

5. “When you consider that that Board of Directors are engaged in open
conflict with each other the situation borders on the ludicrous, and we are
taking legal advice on the remedies available to us as owners”

6. Shareholder George Orr said that he had been “embarrassed” by the
performance of this Board over the lost King’s Dock opportunity and
shareholder Philip Pellow believed that the lost revenue amounted to half a
billion pounds over 50 years.

7. Shareholder Mark Denny said that the performance of the Board was failing
in its duty to protect a teenager, an Evertonian, and one of our own. “Wayne
Rooney is under contract to Everton Football Club; he represents the future
of Everton Football Club; and the message from the Board should have been
“There is no bigger Club than Everton – Wayne Rooney is not for sale”.

8. “If the Board are unable to protect the most exciting England talent for
a generation they have failed the manager, the supporters, and the entire
Everton Community. They will not be welcome at Goodison Park ever again”.

9. The EFCSA have organised a democratic Supporters Council open to
representatives of every Everton supporters organisation which has its first
meeting before Saturdays game.

10. Anne Asquith, Vice Chairman of the EFCSA said that this marked the first
time that a genuine coordination of the entire Everton Community in
partnership with a body of owners had been achieved.

11. Steve Allinson said “It’s heartbreaking that a Council developed to
provide the communication links necessary to assist the Club may now be
addressing the actions available to supporters in protest”.

11. “I have spoken to Lord Grantchester over the actions of the Board in
respect of Wayne Rooney and he shares our deep concern over what amounts to
a distress sale before the fundamental issue of finance for Everton has been
resolved.

12. “If Wayne Rooney is sold before the EGM William Kenwright, Paul Gregg
and John Woods will be held fully responsible.”

[END]Issued by Colm Kavanagh
Everton Shareholders Association
+353 402 33614
+353 402 39364
+353 87 2020603

 

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