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DAC "CARPETBAGGERS" RULE CHANGE RESULTS |
Following
the sale of a 26% stake in their company to
Cleveland Yellow Cabs by the now newly-named and
demutualised Radio Taxis Group Ltd, the DaC Board
held a postal ballot among all members to vote on
a rule change regarding possible "carpetbagging." RTG subscribers have received a dividend in addition to 1000 shares. While Brian Rice has said that DaC have no current plans to follow suit, there was no guarantee that at some time in the future DaC might not receive an offer that subscribers find too good to turn down, which left open the possibility that carpetbaggers could be attracted to become Dial-a-Cab members. This happened to several Building Societies before they changed their status some years ago. The rule change would require all new members fitted after 1 September 2004 to sign a waiver to the effect that they would not be entitled to receive any payments nor will they be able to vote should Dial-a-Cab decide to change their status. Voting ended at 11am on 17 August 2004… Below are the results as audited by the Electoral Reform Service… Number of ballot papers despatched 1,844 Number of ballot papers returned 1,370 Rule Change 1: To Amend Rule
4(b) Number voting YES 1,252 (91.9% of valid vote) TOTAL: 1,362 (100% of valid vote) Rule Change 2: To Add Rule 9(o) TOTAL 1,356 (100% of valid vote) The rule change proposition has been carried… |
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