21 May 2002 Pre-2014 Releases

BHB intends to convene an Extraordinary General Meeting on 15th July 2002 for its four shareholders to approve formally the constitutional changes agreed unanimously by its Board on 10th April

BHB Secretary-General Tristram Ricketts said:

“The process for ratification is well under way. The changes have already been endorsed by the Jockey Club and it is expected that they will be approved by the Racehorse Owners Association on 28th May and by the Industry Committee (Horseracing) Ltd on 6th June.

“The timetable will give the racecourses an opportunity to discuss the changes at their Area Meetings in late May and early June and the RCA time to call an EGM of its own before the 15th July deadline.

“The BHB Board was advised on Monday 13th May of the reluctance of the RCA Board to recommend to racecourses the ratification of the constitutional changes at this moment in time. The BHB Board does not believe that Racing’s Future Funding Plan and the Office of Fair Trading investigation have any impact on BHB’s structure, and was disappointed to hear the view expressed by the RCA representatives that some racecourses may not be willing to support the new structure because they were unhappy about BHB criticism of the racecourses’ recent picture deal. The issues are surely unrelated.

“It is hoped that the RCA representatives on the BHB Board, who support the findings of the Structure Review, will convince the racecourses that the changes are important to the better governance of the Industry and to the continued development of British Racing.”