Rabbitohs board set to vote on Crowe bid

[Super Cronk]

Rabbitohs board set to vote on Crowe bid

abc.net.au


The board of the South Sydney rugby league club will meet tomorrow night to decide the future of a takeover bid by businessman Peter Holmes a Court and actor Russell Crowe.

The board will vote whether to reject the takeover or give members the chance to approve it.

Rabbitohs chairman Nick Pappas admitted today that it had been a drawn out process just to get the bid proposal to the voting stage.

"It probably seems that way and that's because there's been some hasty and sometimes uninformed comment about the proposal earlier than there should have been," he said.

"After the board makes its decision tomorrow night and should that be a vote in favour of taking it to the members, then there'll be plenty of opportunity for comment and debate in the lead-up to that extraordinary general meeting."

Mr Pappas said if the board approved taking the bid to members, an extraordinary general meeting could be held as early as March 19.

Mr Pappas added that only people who had been members of the club for three years would be eligible to vote at such a meeting.

"The voting membership get an opportunity to vote on it. We have a membership that is divided into members and non-voting members, given that there's a threshold period that members have to be members for before they can vote," he said.

"But the voting members will get an opportunity to vote on it at that extraordinary general meeting that we'll call should the board vote in favour tomorrow night."

[Dakink]

And the saga will continue into the forseeable future.