02 Jul 2002 Pre-2014 Releases

BHB Chairman Peter Savill, commenting on the outcome of toda?_x0019_s Extraordinary General Meeting of the Racecourse Association, said:

“BHB is dismayed that the RCA is not prepared to endorse proposals which are solely designed to improve the governance of Racing in the new commercial environment. It was not even prepared to approve the reconstitution of the BHB Board whilst leaving other issues for further discussion. The continued linkage with the OFT Inquiry, the continuation of the HBLB and the comprehensive review of the Racing Product remains wholly inappropriate.

“It was agreed at the beginning of the Structure Review last summer that shareholders should consult as they thought appropriate to ensure that their Board appointees reflected the views of their respective organisations. The Jockey Club, Industry Committee and ROA representatives all did this with the result that their detailed concerns were shared with us at an early stage and speedily addressed. However, although the detailed documentation was supplied to the RCA at the end of April, the RCA Chairman did not express any reservations about the proposals and it was therefore assumed that his own support reflected endorsement from the RCA Board.

“The Board will review the position and the further timetable at its next meeting on 15th July.”