The Club has today written to all Shareholders to notify them of an EGM. The main text of that correspondence which has gone out in the post and by e-mail is as follows.
The Board of Directors of Inverness Thistle and Caledonian FC trading as Inverness Caledonian Thistle FC (ICTFC) is committed a sustainable future for the Club.
In its short history, ICTFC has enjoyed considerable success, including winning the Scottish Cup and playing in Europe. The Club is pledged to playing good football and competing for honours. However, in spite of our best efforts, ICTFC has not been successful in achieving promotion back to the Premiership since our relegation 2 seasons ago.
Following extensive negotiations, the Stadium Lease was returned to the Club at the beginning of 2019, which in turn had a very positive impact on the balance sheet. It is no secret that life in the Championship has thrown up a number of challenges for ICTFC, mostly financial and as previously stated at many public events, the Club has reiterated the desire and requirement to bring in new directors and new investment. Each year in the Championship has resulted in circa £800K loss on the basis that ICTFC continued to pursue its mission of being a community centric club, while retaining its youth and community development programmes.
The Board of Directors is convening an Extraordinary General Meeting (EGM) as an open and transparent forum for all shareholders to be briefed on our current issues and challenges, as well as consider some new proposals and other possible options. This open forum will also permit other Shareholders and potential benefactors to demonstrate their support for the Club. As there have been talks with a number of individuals and businesses over the last few months, it is the Club’s position that in the interest of transparency, the Shareholders should be updated about these talks, (where confidentiality allows) and therefore, an EGM is seen to be the reasonable platform for this.
The meeting, which is strictly for Shareholders only, is to be held at Caledonian Stadium, Stadium Road, Inverness, IV1 1FF at 7:30pm on 3 October 2019.
It is also our intention to host at least one public meeting shortly after the EGM to allow fans who are not currently Shareholders to come along and be furnished with the same information and opportunities.
Further details re this public meeting will be published in the coming days and we thank you all for your continued support.