bpma response to Promota Statement re EGM

Gill Thorpe, Chairwoman of the bpma, has responded to the recent PROMOTA statement as follows:

Whilst I do not like this form of communication, as bpma Chairwoman I feel I owe it to you to respond to the inaccurate statement released yesterday by PROMOTA. “Subject: EGM postponed due to lack of information”. 

Sadly, the communication within PROMOTA between its secretariat, solicitor and Treasurer has caused an inaccurate statement to be communicated to the market. For correctness we would like to clarify these inaccuracies and copies of all communication between parties is available. The bpma await a formal apology from PROMOTA with regard to this statement. 

1. The mentioned request for Due Diligence was not received until 14th April 2010 – due to PROMOTA mailing the document to the incorrect address. POD via link below. http://www.thedx.co.uk/customerservice/trackinganitem/track-my-dx/?tn=641131643

2.The Trade Only Show Agreement : Rod Duncan (PROMOTA Chairman), Gerry Thomas (Treasurer PROMOTA), both attended the negotiation and agreement meeting with Gill Thorpe (Chairwoman bpma), Neal Beagles (Vice Chair bpma) and Martin Varley – Trade Only.

All parties were involved in finalising the new Trade Only Show agreement to ensure PROMOTA and bpma were happy with the agreement reached as this will be a joint venture after the merger. This meeting took place at the PROMOTA Show on the 1st March 2010.

Following this meeting the final document was distributed by email to all parties on 1st March 2010 and Gerry Thomas of PROMOTA acknowledged by return of email that all looked in order.

3. At a meeting in Russell Square prior to the bpma board meeting on 22nd March 2010 Gerry Thomas (PROMOTA Treasurer) met with Gill Thorpe (Chairwoman bpma) & Neal Beagles (Vice Chair bpma). This meeting was to discuss additional information requirements by both parties. Gerry Thomas confirmed that he would contact Annette Scott (Outsourced Secretariat PROMOTA) and their solicitor to clarify any outstanding requirements of Due Diligence.

4. Gerry Thomas has copied in the bpma in the correspondence of his requests to both Annette Scott and the PROMOTA Solicitor.

5. Gerry Thomas reiterated his frustration yesterday to both above as he had not received a response to his requests.

6. Following the bpma’s board meeting on 22nd March 2010 it was agreed that as a duty of care to our members, board and the bpma staff, that having turned the bpma around over the last 18 months that it was now prudent to see up to date figures from PROMOTA – particularly in light of the losses from the recent PROMOTA Show. Gerry Thomas confirmed that he would request this information and forward it to us ASAP. To date nothing has been received.

All at the bpma, both the Secretariat and your Board of Directors must continue with the day to day business of working for you our members. We would welcome the Board of PROMOTA to approach us with a view to moving matters forward in a pro-active way. This must however be after PROMOTA have clarified who within their organisation is responsible for their communication and the content of their messages in order to avoid any future inaccuracies.

 

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