Dee 4 Life are delighted to have formalised their entrenched right to Boardroom representation and their acquisition of a shareholding of around 5% of the Club on behalf of their membership at tonight’s Club EGM.
These shares are designated as Class A shares and can only be purchased by Dee 4 Life. This separate class of shares formed part of the negotiations between Dee 4 Life and the clubs administrators Ernst & Young and major shareholders Peter & Jimmy Marr as part of the strategy to exit administration and ensure future fan involvement in the running of the club. The total amount of Class A shares available amount to approximately 17% of the entire stock of the football club and the Trust’s shareholding will increase in return for ongoing cash submissions.
Trust Chairman and club director George Knight stated that he was delighted that this agreement had now been formalised. He commented “we have now ensured that the fans of this football club will have a say in the running of it and be involved in the decision making processes, not just now but for evermore.
The Trust has come along way in a very short time; boardroom representation on behalf of the fans is now the right of the supporters and set in stone. Those at the helm of the Trust would like to both thank all those who have assisted in the organisation and administration of our collective efforts to date as well as everyone who has contributed in any way, shape or form, whether it be time, expertise, money or the donation of goods or services. Without the backing of the support and community at large there is no way this Club could have survived and we need everyone to persist in order that the Club can continue in its post administration recovery.”
Dee4Life reported that the number of members making regular contributions has grown substantially in the last few months and now returns over £25,000 per year.
Trust Secretary Scott Glenday commented “thanks to the generosity and hard work of the Dundee support, as well as the community as a whole, we have now acquired, on their behalf, 3.1 Million class A shares which returns the fans a right to a voice in the boardroom forever more. This is a significant milestone for the Dundee FC Supporters Society Limited (Dee4Life), and provides the Club and its supporters with strong foundations to build on for the future. Hopefully this is only the beginning, supporters throughout the land are looking to have an increasing say in the running of their Clubs and given the remarkable response of the Dundee support to the clubs plight this is the very least they deserve .Its been a lot of hard work, but I’d like to think that this proves that we’ve done our business properly and provided them with something worthwhile as a return for their hard word and generosity. The Club has come a long way in terms of its post administration recovery but if it is to become the community based, SPL Club free from fear of extinction we all want it to be then it will require much more hard work, dedication and application from the board, management, players, staff and fans alike. Thanks to the hard work of all so far we still have a Football Club to support, when we went in administration there was no guarantee that would be the case.”