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Updated: 14 June 2011
Outcome of EGM
At the Extraordinary General Meeting on Monday 13 June, Loft Theatre
Company Chairman Michael Rayns outlined to members the current
situation with regard to the proposed move to the United Reformed
Church, the withdrawal of funding for the move by Advantage West
Midlands, and the subsequent compensation settlement.
On behalf of the Board of Trustees, the Chairman put the following
resolutions to the membership:
Given that:
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There is no viable alternative currently available.
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Vital plant, systems, equipment and elements of the building need
urgently to be replaced as a direct result of policy decisions to
defer spending taken over many years in the context of a proposed
move which is now not happening.
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The company requires certainty and stability after many years of
uncertainty.
It is resolved that:
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The company shall remain in the present buildings pro tem and that
board will schedule and cause to be executed such works as are
necessary for the continued efficient discharge of the
company’s charitable objectives.
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The board shall now take advice and invest the monies received in
compensation to generate income over time to support the financing
of such works.
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The board is mandated to maintain an open and constructive
dialogue with the local authority and others on all matters
relevant to ensuring the continuing ability of the company to
pursue its charitable objectives.
After a discussion, the three resolutions above were passed by a show
of hands from the membership.
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