22nd February 2006
Progress on Silverstone Development
At an Extraordinary General Meeting of the British Racing Drivers’ Club (BRDC) at Silverstone, Wednesday 22 February 2006, the Members agreed to postpone the approval of two resolutions which would allow the Board to conclude negotiations with St Modwen Properties PLC and Northern Racing PLC in relation to the development of Silverstone Estate and the operation of Silverstone Racing Circuits.
Sir Jackie Stewart, President, and Stuart Rolt, Chairman, said, “Members need more information and a longer period of consultation before we put the two resolutions to a vote:
Ordinary Resolution 1 (Authority to Board to conclude negotiations with St Modwen Properties PLC relating to the development of the Silverstone Estate)
Ordinary Resolution 2 (conditional on passing of Ordinary Resolution 1) (Authority to Board to conclude negotiations with Northern Racing PLC relating to the operation of the Silverstone Racing Circuits.)
“We are confident that taking on board all the opinions and strongly held views at today’s EGM we can proceed with our strategic plans for the development of Silverstone. However, the Board accepts and supports that Members need an additional period for briefing and consultation and we were happy to accept the strong view of the Meeting. St Modwen and Northern Racing are fully in support of today’s decision.”
For further information, please contact Alex Hooton, Executive Chairman, Silverstone Estates Ltd 01327 850 927 or 07764 177 129 or DBA Ltd. 020 7930 8033 or 07881 555 818
Ends.
