Thanks for all the feedback and responses to Friday’s update. For those offering help we will make direct contact with you, thanks for everyone’s continuing support. There were also some common queries that we would like to clarify below.
Will the Jags Foundation be carrying out an independent Due Diligence process?
We asked for and were denied a formal process of Due Diligence. The view expressed was that this is not appropriate as the shares are being gifted, and that the information sharing process described in the joint statement should suffice. We know that this is not a view that we all agree with but, equally, we do not wish to walk away from this process. We are happy to acknowledge that this is a challenging situation for us.
Did the Foundation specify a Question & Answer rather than Independent Professional Due Diligence or did that come from the Club/3BC?
We did pose some financial questions at the meeting held last week. These were based on information already in the public domain. Responses were given, and the Q&A approach was suggested by the TJF representatives as a means of covering more ground than we were able to do in the time available.
Is June still the anticipated timeline for the transfer of shares?
Given where we are at this point in time, we think a June transfer will be unlikely.
Will the AGM happen in April?
We decided to defer the Annual General Meeting until we have been able to publish the results of the Q&A. We believe it will give any fans considering putting themselves forward as candidates a better picture of the future.
There is no mention of the resignations that have happened this week.
Stuart Callison resigned this week as he felt that there were too many barriers to his aspirations for fan ownership. Between late 2021 and more recently, Sandy Fyfe and Tom Hosie have also stepped back from the board. We have also welcomed new faces who have expressed an interest in being actively involved and will continue to do so.