SHAREHOLDERS will vote on a five-pronged change to Worcester City’s constitution at next week’s annual general meeting (AGM) in the board's push towards community ownership.

A special resolution has been put forward by club directors to scrap the restriction on any individual owning more than one per cent of the club and “make specific provision for treatment of nil-paid shares” which would “equal status to fully-paid shares”.

It would see all unsold shares ­— understood to be a stake of slightly less than 50 per cent of the company ­— allotted to Worcester City Supporters’ Trust.

The other two elements would scrap the requirement for five per cent of value of shares to be paid and for shares to be offered first to existing shareholders.

It is a simple for or against vote on all five changes combined for shareholders who are present at the AGM at Worcestershire County Cricket Club’s Graeme Hick Suite on Thursday, February 28 (7.30pm), and those who have voted by proxy.

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For a limited company in the UK to pass a special resolution, support is required from 75 per cent of the shareholding that chooses to vote, not three quarters of the overall shareholding.

The value of each person’s vote is weighted by the number of shares ­— anyone with the current maximum of 3,000 would have the same clout as 60 people who each owned 50.

Club director and trust chairman Dave Wood explained that Worcester City Football Club Limited would continue to exist and operate as a company, running the Midland Football League outfit as it does now should the resolution get passed.

The change would be that the trust, which is ran as a community benefit society operating on a one-share-one-vote basis, becomes the umbrella organisation with a controlling interest.

Overall say would lie with the trust’s membership, maintaining the principle that no one person could gain ownership or control of the club.

Wood explained he did not feel it would be appropriate to give any more detail than that ahead of the AGM, arguing priority must be given to City’s shareholders.

“Overall it is about changing the constitution to allow community ownership, the detail of which will be discussed with our shareholders because they will make the decision,” said Wood.

“My feeling is that it is a private shareholders’ meeting and that it is only right and proper that we give them the information up front before the rest of the public know what the situation is.

“I have my obligation to the shareholders and they come first.”

On the prospect of community ownership, Wood added: “This is what I have always believed in and been driving towards for the past 13 years. The trust’s vision for this has never changed.

“We believe this is the only viable way forward for the football club. We are all as one, the trust and the club, and this (resolution) would galvanise it.”