Dagenham & Redbridge a step closer to change in ownership at Glenn Tamplin-led consortium bid is approved by full and life members
12:30 18 October 2016
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Offer received required number of votes at Monday’s EGM, but full and life members must still vote on whether to change club’s constitution
Dagenham & Redbridge took a step closer to new ownership on Monday evening after a the takeover bid from the Glenn Tamplin-led consortium received approval following a vote by full and life members.
Of the 49 full and life members in attendance at an Extraordinary General Meeting (EGM) on Monday night, 37 voted in favour of the consortium’s bid, with the 11 abstaining and one spoiled vote.
With a motion having previously been passed stating that any bid would have needed just 50 per cent approval from those in attendance, it meant the Tamplin-led consortium was successful with just over 77 per cent of the vote.
The consortium were left as the only bidders for the club after a rival group, led by current presidents John and Brian East and also containing ex-Daggers defender Lee Goodwin, withdrew last week.
Tamplin, who has made his money in the steel industry, heads up a 10-strong group of investors that also includes first-team boss John Still (pictured left), managing director Steve Thompson, former chairman Dave Bennett, current vice-chairman David Ward, director Chris Smythe, local businessmen Glyn Hopkin, Mark Fitzer and Dennis Bean and ex-GB sprinter Jeanette Kwakye.
In total, the group are offering to invest a total of £1.225m over an initial three-year period, with an investment of £600,000 in year one followed by further investments of £375,000 and £250,000 in years two and three respectively.
Each investor would have a place on the board, along with at least one representative elected by the members or two if the supporters’ and members’ clubs agree to merge, with each member of the board entitled to one vote.
As leader of the consortium, Tamplin will invest the most, stumping up £725,000 in total for a 43.5 per cent share.
Bennett and Bean will both invest £75,000 each for a 4.3 per cent share, while in return for a three per cent share, Thompson, Still, Smythe, Hopkin, Kwakye, Ward and Fitzer will all put in £50,000 respectively.
The members would then retain the remaining 26.5 per cent.
However, it is understood that the full and life members must still vote on whether to change the constitution of the club to allow for outside investment.
Should the full and life members vote against this, then it will be a huge blow to the consortium’s hopes of owning Daggers.