3 Dec 2007

Big Green Gathering saved? Narrowly wins vote?

Sometimes being green to paraphrase Simon Boliver is a bit 'like ploughing the sea' so glad to see some potential good news.

I must admit I haven't been to BGG although I have in the past made lots of green gathering particularly in my youth when I was more radical than the sober suited politician you see before you today.....(thats enough reminscing about the didn't inhale in the sensi days, Dr Wall)

I hope pasting this up does not lead to a sharp reversal of fortune, from Tim:

Hope I am not pre-empting an announcement on this, but some good news I just saw on the Big Green Gathering website:

Still in business - AGM votes for BGG to carry on

White Knight saves Big Green in AGM drama

Shareholders meeting in Glastonbury Assembly Rooms on Saturday November 24th voted to keep the Big Green Gathering company in business after the dramatic appearance of a ‘White Knight’ businessman who promised to put new capital into the company.

The ‘Big Green’ has been established for 14 years and has become one of the most popular events on the annual festival calendar, but ran into financial difficulties after licence conditions put an extra £120,000 on the costs of this year’s event. Shareholders faced a choice between calling it a day and liquidating the company, or making arrangements with creditors to enable the company to carry on.

BGG chair Brig Oubridge announced to the meeting that an appeal launched two months ago had already raised over £55,000 from supporters and well-wishers, and that discussions were in progress with a new investor who was willing to put in a large amount of money.

Shareholders voted to reject a motion to liquidate the company, and empowered the directors to seek an agreement with its creditors to keep it afloat until the mystery investor puts his money in in the New Year. They also voted against holding another Big Green Gathering until 2009, but the directors intend holding a smaller, shareholder-based event in August 2008. More details of this 2008 event will be released some time in December, and fund-raising efforts continue meanwhile.

BGG chair Brig Oubridge said “This is great news for the Big Green Gathering and all its many supporters. There is still a way to go, and we need more people to become BGG shareholders to put us on a really sound financial base, but two months ago we needed a miracle to save it, and now we seem to have found a miracle.”

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