Accounts + AGM

[rayf]

The AGM notice along with the accounts to 30 June will be published in the next few days.

Apologies that certain claims and queries have been neglected over the past few months. As I indicated last year, I feel that things have run to a natural conclusion and one of the AGM resolutions will give members the opportunity to vote for an orderly closure of the company, with any surplus assets being distributed to qualify shareholders.

Payments continue to be made every week and I hope you will agree with me that ensuring any outstanding balances are honoured is the most important thing at this stage.

I have not been successful in finding a potential acquirer and though this may still happen, I think members should have the opportunity to decide on the next steps.

More to follow...

[rayf]

withdrawing the £5 minimum payment would be a good start

it may even encourage members to start using the site again

[pabenny]

Is there any prospect of keeping the forum running even if there is no cashback?

I benefitted a lot in the past from posts here and there are still often contributions that are valuable such as comparing notes on Microsoft Rewards tracking problems.

[Richard Frost]

Apologies that certain claims and queries have been neglected over the past few months. As I indicated last year, I feel that things have run to a natural conclusion and one of the AGM resolutions will give members the opportunity to vote for an orderly closure of the company, with any surplus assets being distributed to qualify shareholders.

If there is to be an orderly winding up, I am not sure what would be the criteria for any payout. There are likely to be many members who qualify and have not used the site for many years and are now uncontactable. Although a mailing to registered email addresses' in addition to an announcement here might wake them up.

On winding up will anything actually be payable or will any amount be so small (because of the amount of people due a payout) that it would not be worth bothering to distribute? (In which case it might be better to distribute it to a nominated charity.)

Is Richard owed any money?That would reduce any payouts. My guess is that there are many members with a balance of less than £5 that would also be due a payout in any winding up.

Presumably the amount over after the above has been dealt with and payable to shareholders will depend on the number of shares held. In which case there will be many people who have only a handful of shares. It may be prudent (not sure of the legality) to set an amount below which a payout would not be made.

Is there any prospect of keeping the forum running even if there is no cashback?

I benefitted a lot in the past from posts here and there are still often contributions that are valuable such as comparing notes on Microsoft Rewards tracking problems.

I like pabenny would like to see the forum continue. I accept though that this may not be possible as if the company is being wound up then there is in effect no website. I am also not sure how any fees would be paid for. ie: hosting, maintenance etc. Or even if Richard would be willing to still be involved given the current state of his involvement. If he is not willing, would there be anyone else willing to take over the hosting?

withdrawing the £5 minimum payment would be a good start

it may even encourage members to start using the site again

I am not convinced. Even if people started to use the site again. Is there anyone willing to run it? It would appear not at the moment. That is one of the reasons we are in the position we are in. There are many sites where the minimum payout is £25 There are a couple where it is as low as £2.50. Quidco has a £1 minimum. Top Cashback is 1p