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Process towards completing the ground deal
Process towards completing the ground deal

BCH EGM on 11 January 2005

Notice has now been sent to shareholders of Bootham Crescent Holdings Limited ("BCH") regarding an Extraordinary General Meeting to approve the granting of financial assistance by BCH to York City Football Club Limited ("York City") in connection with the proposed purchase by York City of 75% of the shares in BCH. The EGM will take place on 11 January 2005.

Shareholders will be asked to vote on three resolutions. These resolutions are to approve the proposed purchase by York City of 75% of the shares of BCH and the proposed granting of a fixed charge over the Bootham Crescent Football Ground. This fixed charge (a type of mortgage) will be in favour of the Football Stadia Improvement Fund ("FSIF") and will secure the money that the FSIF is lending to York City in connection with the proposed transaction.

In June 2004 the BCH shareholders were sent a circular setting out the details of an agreement that had been reached in principle between the majority shareholders in BCH and York City which would enable York City to continue to play professional football at the Bootham Crescent ground for the foreseeable future.

Stage 1 was for BCH to be re-registered as a private limited company and this was concluded on 15 July 2004. Stage 2 is for the parties to enter into a binding legal agreement for York City to acquire the 75% of shares in BCH. In order for the parties to complete Stage 2, it is necessary for BCH to go through the Companies Act procedure as outlined in the letter to shareholders.

York City (in their capacity as existing minority shareholders of BCH) and the current directors of BCH will be voting in favour of the resolutions at the EGM.

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