139th RFC Annual General Meeting --- 11th December, 2023

[one-eyed]

139th Annual General Meeting

The Annual General Meeting of the Richmond Football Club Limited will be held at the Swinburne Centre on Monday, 11 December 2023 at 5pm.



Richmond Football Club Limited

A.C.N. 005 563 011

Notice of 139th ANNUAL GENERAL MEETING

The Annual General Meeting of the Richmond Football Club Limited (“the Club”) will be held at the Swinburne Centre at Punt Road Oval, Richmond, Victoria on Monday, 11 December 2023 at 5.00pm (AEDT).

Access to the Annual General Meeting will also be available in a virtual format.

The Club will provide members with the notice of the Annual General Meeting and all details in relation to accessing and participating in the virtual aspect of the meeting.  The opportunity will exist for members joining virtually to ask questions during the meeting in respect to the items of business listed, as well as any general questions in respect to the Club.  Members may submit questions in advance of the meeting by emailing Michael Stahl (Company Secretary) at mstahl@richmondfc.com.au.

Business

1. To receive and consider the Annual Financial Report and the Directors’ Report and Declaration for the year ended 31 October 2023;

2. Declaration of the results of the election of two Directors of the Club;

3. Recognition of Club Award winners;

4. Recognition of Life Members; and

5. To transact any other business which may lawfully be brought forward.

ELECTION OF DIRECTORS

In accordance with the Club’s Constitution, the Director positions of Kate Palmer and Joe Powell are to be filled by an election.

Each of these Directors, being eligible, may offer themselves for election.

Nominations for the position of Director will be accepted at the Club until 5.00pm on Friday, 10 November 2023. All nominees must be a current member of the Club and nominations must be signed by two members of the Club (in accordance with the Club’s Constitution).

Further, under the Constitution of the Club, the nominee and their proposer and seconder and all members intending to vote must have been a financial member of the Club for the 2023 year by 31 August 2023.

Nominees should be aware that due to Director obligations, any new Director is to be subject to a police investigation and any other enquiries necessary to ensure that the Director meets the criteria of the relevant Acts and Regulations.

Nomination Forms and further information are available by enquiry to the Company Secretary, Michael Stahl on 9426 4409 or at mstahl@richmondfc.com.au.

Signed:
Michael Stahl
Company Secretary
27 October 2023

https://www.richmondfc.com.au/news/1457313/notice-of-139th-annual-general-meeting

[one-eyed]

The AGM will be accessible online for members and you can submit questions.

From RFC email:

Members can either:

•   attend the AGM in person at the Swinburne Centre at Punt Road Oval, Richmond Victoria 3121; or

•   access and watch the AGM in a virtual format using their computer or mobile device by entering:
the following URL in their browser: https://richmondfcagm.hippomedia.net.au/ and then their 7-digit membership number and press login to access the viewing page.

Members will have the opportunity to ask questions during the AGM in respect of the items of business, as well as any general questions in respect to the Club.

If accessing the AGM virtually, please type your question into the Q & A box on the right-hand side of the screen, and once this has been approved by the moderator it will be published, to be answered.

Members may also submit questions in advance of the meeting by emailing Michael Stahl (Company Secretary) at mstahl@richmondfc.com.au.

[one-eyed]

Kate Palmer and Joe Powell will be continuing in 2024, with both re-elected to the Board unopposed.

https://www.richmondfc.com.au/news/1468442/2023-presidents-report

[one-eyed]

Bump. AGM on Monday.

If they pushed it forward even 30-60 mins then some of us would be able to get home from work to watch it.

[WilliamPowell]

Bump. AGM on Monday.

If they pushed it forward even 30-60 mins then some of us would be able to get home from work to watch it.

I've actually arranged to leave work early Monday to watch it. I'm lucky work is only 15 mins from home these days

[WilliamPowell]

Not sure why I bothered rushing home

Nearly 5.30 and it hasn't started.

[WilliamPowell]

AGM take-aways

Life membership awarded to Malcolm Speed and Kerry Ryan

Nank now sole captain.

Redevelopment will now cost $100mil. Major fund-raising to launch early 2024. Club may need to borrow to cover any shortfall but will be carefully considered as the Club worked hard to become debt free so although prepared to go into debt for this project must be sure they can meet repayments and not jeopardise the Club's strong position

Finances in particular Aligned Leisure and the line in the accounts "Health, Fitness and Community". Aligned Leisure is profitable. The line includes all our Community programs not just Aligned Leisure.

[one-eyed]

🎙 Hear from @ooze21 in a Q&A with president John O'Rourke at last night's AGM.

Watch here: https://www.richmondfc.com.au/video/1477046/agm-adem-yze-qa

[Hard Roar Tiger]

Did anyone ask about the white elephant called aligned leisure and profit slayer?

[WilliamPowell]

Did anyone ask about the white elephant called aligned leisure and profit slayer?

Yes, please see my last post, asked and answered

Aligned Leisure is profitable

The expense line "Health, Fitness and Community includes costs to run all our community programs not just Aligned Leisure. There are other community programs that a number of our sponsors help support but that revenue is captured on other lines on the Income Statement

But on it's own Aligned Leisure makes a profit for the Club.


PS I also briefly touched on it in the following thread where it was also raised by you HRT
http://oneeyed-richmond.com/forum/index.php?topic=25125.msg762634#msg762634

[Hard Roar Tiger]

Thanks WP, did they go into some detail about how profitable?
Does it generate it’s own free cash flow?
What are it’s margins like?
Are they eroding or improving?
Does it have any debt?


It would be interesting to see if we have any shared services costs ie accounts that help it run more efficiently.

Saying it’s profitable doesn’t really tell a story.

[WilliamPowell]

Thanks WP, did they go into some detail about how profitable?
Does it generate it’s own free cash flow?
What are it’s margins like?
Are they eroding or improving?
Does it have any debt?


It would be interesting to see if we have any shared services costs ie accounts that help it run more efficiently.

Saying it’s profitable doesn’t really tell a story.

To your questions, the answer is no they didn't, nor would I expect them too.

As Richmond own it and control it for the purpose of the RFC annual accounts it all gets consolidated. And the Club reports to the level they are required to under the corporations law.

I've said, any times over the years I don't like the way report things. We go down the minimum requirements path and nothing more which they are well within their rights to do. Doesn't mean I like it or agree with it

All the questions you asked above would show in the annual accounts of Aligned Leisure. Which don't need ot be released publicly as it isn't a publicly listed company

I will add that I they did list off the other community programs that are covered in the expense line and unfortunately I didn't write them all down. For memory there were at least 5 perhaps 6

For now I am comfortable with the answer given but will continue to watch to see where the numbers land next year. If the gap leaks further then I would be looking for further answers.

[Hard Roar Tiger]

Are they obligated to separate the revenue? Why not consolidate that as well?

My experience with this type of “transparency” is that it is unlikely to be making much money.