A Few Questions From Eddy
By Eddy, June 18, 2006
Mr. Shepherd, perhaps you would be courteous enough to answer a few pertinent questions.
How often does the 'Board' meet, and do you see minutes are kept of such meetings?
Newcastle are also involved in a project no self-respecting Premier League club is currently without: commercial expansion into China and the Far East. "A year of notable progress both on and off the pitch," Shepherd said in Newcastle's annual report.
A Newcastle spokesman said most AGM's are held in Newcastle but this one is being held in London "for the benefit of institutional shareholders and to stimulate interest in Newcastle's shares". However, the 9.30 London start is likely to mean that few Geordie fans and small shareholders will be there to query some curious nuggets in the report's small print.
Shepherd himself enjoyed a year of "notable progress" in his own pay packet: his basic salary swelled from £75,000 the previous year to £330,000, an increase of 440 per cent. He was also paid a bonus of £250,000, awarded by the board – which he chaired. With other benefits, his overall package totaled £591,639.
Shepherd is also an executive director of Shepherd Offshore, the company he owns and runs with his brother, Bruce, which, according to the latest accounts, paid him £389,000.
1. The Shepherds, who own 21 per cent of Newcastle mostly through their company, made a further £900,000 out of Newcastle as their share of a £4.5m dividend which has been declared, controversially because Newcastle made a loss. Nearly £2m of this dividend will be paid to the Hall family, who still own 43.6 per cent of Newcastle, held by Sir John and the target of many Geordie fans' odium, his son, Douglas.
Top of the list of questions fans would like to ask if they could get to Threadneedle Street concerns the payment to Douglas Hall of £524,257 last year, including a £200,000 bonus. This, according to the accounts, was for work done for a subsidiary company, Newcastle United
2. Who was present at the meeting when you were given these astronomical raises, and those of others.?
3. Do you have a quorum, if so what is the number?
4. D.S.Hall, received a very large salary as Chairman of Newcastle United (International) What is that exactly? He has no Executive duties at St. James' Park and resides in the Caribbean! How many meetings does he attend a year? And what does he do to earn these very large wages?
5. Timothy Revill resides in Gibraltar. He is non Executive. Chairman of BDO Fidecs group. He receives £38,333 p.a…..For What?(Non Executive!)
6. Bruce Stewart Shepherd, Non Executive. Receives £35,000 p.a. He is based in the Channel Islands. Chief Executive of Shepherd Offshore company. What does he get this money for?
7. M/s.A. Antonopuolos Director of Cameron Hall Developments, a non- Executive on the Board! Receives £35,000 p.a. What does she do to earn this?
8. They all enjoy Pension payment also p.a. plus other perks.
9. Does Paul Stretford, Director of Proactive Sportsgroup PLC have an office at St.James' Park, Newcastle?
10. Is your son, Kenny Shepherd employed by Stretford in an Executive position and receives commissions on the sales of players?
11 .Do you personally feed information as suggested by Sir Bobby Robson to Alan Oliver of the Chronicle? If so what do you get in return?Is this ethical?
12. In a recent trip to America, who did you take with you and what was the purpose of the trip. Who paid for it?
13. In all of your trips abroad, who finances them? Who accompanies you? Is it all stated to the Auditors and listed in the Annual Report?
14. Is it right and proper to claim you were born in Byker, Newcastle, when in fact you were born in Gilsland, Cumberland?
15. At the end of the day, do you think it right and proper that this quasi Board should vote its self such high remunerations given that they are for their own benefit?
16. You went to Barbados for a Holiday in February 2006. Ostensibly to take part in a golf match. Surely a local golf club would have been a better idea? You claim it was to raise charity. What did it cost and who paid for it? Who did you take with you?
17. You will claim according to a written contract, if you are relieved of your present position £1,000,000 plus other benefits. Do you consider this right and proper for what little you do, and have already taken out of the Magpies funds?