Our first AGM

Silhouette owners held our first AGM at the weekend, well first AGM post-Ownerships. Very well attended with 11 of the 12 shares represented, and as a group it looks like we are all set up for carrying on going forward. Many boats have now had their meetings, whether self organised or now under the umbrella of another management company. For many the future is bright, though not for all it seems. There are one or two boats that I know of that have divisions on the way forward with the likelihood that the boats will be sold and those owners wanting to continue looking for shares in other boats.
There are also some boats where the future is still uncertain. These are boats where Ownerships owned some shares, bought via the buy-back scheme. As Ownerships goes into the hands of the receivers, one job will be to see what debts they can recoup and if the shares are seen as assets they will want to get money for these. No one seems to know what this really means, will boats be forced to be sold off or could the shares be bought by existing owners (if they are in a position to, which is another matter) which may be okay if only one-share, but with cases of 3 or 4 shares on some boats you are talking about a third of the boats total (so could be well over £10K). Without this clarification, it could be difficult to really plan for the future. The manager at one of the bases where fifteen boats were based posted on a forum that four of them had buy-back shares on and extrapolating this to the whole fleet could mean as many as 26 boats are affected.

2 Responses to “Our first AGM”

  1. Chris Gosling Says:

    Really like your “round Birmingham” video. Would very much like to show on our TV programme “UK BOating – Inland Waterways” playing on Sky 166 and 203 . .

  2. ted partridge Says:

    I am obviously interested in veiwing this site as a silhouette share holder. How do I register?…………Ted