100 Club meeting - Thursday 15th February 2007

Members of the 100 Club met on Thursday 15th February 2007 and endorsed (27 members For, 1 member Against, no abstentions) the DHST policy to offer the football club a £7,500 interest free loan.

The loan would fund improvements to Champion Hill to meet Grade C grading requirements before 31st March 2007, and therefore enable the club to be promoted to the Ryman Premier League. At the meeting the loan option was the preferred form of investment as it meets DHST's objective of acquiring new shares in DHFC Ltd while at the same helping the club. Key elements of the loan agreed in the meeting:

2 year, interest free loan for £7,500
After 2 years, interest on the loan capped at Bank of England base rate will apply (to protect the sum against inflation)
Loan sum can be repaid at any time by either money or new shares in DHFC Ltd
If loan sum is not repaid in full within 5 years, the sum will be redeemable by ordinary new shares in DHFC Ltd (with parity of rights - voting powers, inspection rights, etc - as other shareholders) at maximum cost of £1 per share
The loan is made out DHFC Ltd, not to any individual in the club
The loan will appear in the club's audited accounts
Legal costs of constructing the loan agreement will be split between DHST and DHFC Ltd, and the DHFC Ltd liability will be incorporated into the balance of the loan.

Martin Eede agreed to pass the news on to Nick McCormack at the football club and DHST have written a letter to confirm the above terms. No response has yet been received from Nick McCormack.

Dulwich Hamlet Supporters' Trust
PO Box 43616
London SE22 0XA

07984 278 265

01344 427 863

or by e-mail:
dhst@btconnect.com