Adams move disrespects shareholders

Adams move disrespects shareholders

Board’s proposal crudely contradicts a democratic vote by shareholders argues Rob Fielding.

Pecksniffian is an unusual word I like to occasionally use. It comes from Dickens’ novel Martin Chuzzlewit and relates to the character Sam Pecksniff. Based on the character’s traits, it is used to describe those who claim to be acting with the moral high ground but are actually acting hypocritically. It is usually accompanied by sanctimonious behaviour and insincerity.

I wonder if anyone at Vale Park is aware of the word Pecksniffian?

The three-man board’s proposal to install manager Micky Adams as a director, using Stan Meigh’s shareholding as sponsorship, crudely contradicts a democratic vote by shareholders.

The three remaining directors are quick to claim that the justification for them continuing in office is (disregarding a vote of no confidence) due to them individually surviving a poll vote at last week’s EGM. That same poll vote showed that fans do not want Stan Meigh as a director. By that token, I believe that fans do not want Stan Meigh as director either in person or via proxy sponsorship.

It is many fans’ belief, including my own, that a future Micky Adams directorship using Stan Meigh’s shareholding as proxy, would simply shore up the Bratt/Oliver/Lloyd regime:

• The same regime that received a vote of no confidence at the EGM and carried on regardless.
• The same regime that in just four days has received a thousand calls for them to resign via the OVF petition.
• The same regime that received the support of just 14 of 700 fans consulted by the Port Vale Supporters Club.
• The same regime that asked North London Valiants to propose a fourth director and four days later produced one of their own anyway.
• The same regime that has recorded a £280,000 plus loss for the last three financial years.
• The same regime that slammed Messrs Chaudry and Sims for launching a joint bid, and then asked a sponsor to take up a 24.9% shareholding, which would effectively create a seven person (Bratt, Lloyd, Oliver, Jackson, Meigh plus the two US shareholders) cartel of their own.

Micky Adams is also doing himself no favours with this move. I can understand that Micky Adams personally will be keen to move forward with pre-season preparations having signed a new contract. But the best way for that to happen is for Messrs Bratt, Oliver and Lloyd to stand aside with dignity. And if they do, my use of the word “Pecksniffian” may just come to an end, too.

Rob Fielding has been a Port Vale fan for thirty years. He founded the award-winning website in 1996. These are his personal views and he welcomes your comments on them.

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