YORK City Supporters Trust members voted against the Golden Share Proposal at Millthorpe School this evening.

From a membership of 910, 123 voted for the motion and 262 against, equating to a 68 per cent/32 per cent majority for the 'No' camp.  

The result means the Trust will hold on to their 25 per cent shareholding, while chairman Jason McGill remains the club’s 75 per cent majority shareholder.

McGill had suggested prior to the special general meeting that a ‘No’ vote would result in him refusing to cover all future operating losses and possibly seek a buyer for the club.

This evening’s meeting was attended by between 150 and 200 people at Millthorpe School, including 1940s City legend Alf Patrick and 97-year-old Graham Munday, believed to be the eldest living Trust member.

City chairman McGill was not present and nor were any other club officials, aside from press officer Ian Appleyard, while auditor Steve Kilmartin, who has acted as a spokesman for the Malton-based owner in recent months, was also present.

Kilmartin declined to comment when he was invited to speak, however, with the vote preceded by a measured one-hour-and-20 minutes debate among members.

During that period, Trust chairman John Lacy outlined three hopes for the future, regardless of the vote’s result.

He said: “The first is that the Trust needs to step up to the plate. We need additional leadership and experienced bodies on the board, with skills in business management, finance and fundraising all essential.

“The Trust board will struggle, otherwise, without that skilled and committed help and won’t be able to carry on. Secondly, York City has to find a viable way to spend less money and get better value, which doesn’t necessarily mean poor quality or part-time football.

“Thirdly, and most importantly, the Trust and the club have to heal divisions and work together if the football fans in York are to retain a team to grace the new community stadium. The whole shares issue has led to fierce debate and conflict and, in the future, I believe the Trust and the club must operate more democratically, fairly, sustainably and transparently.”

Former Trust board member Mike Brown, meanwhile, also revealed that one of five motions suggested by McGill in past negotiations was to gain the ability to issue one million new shares to seek extra investment, with the capacity to increase that to three million shares in the future.

That motion was rejected by the Trust board with Brown adding: “It would have resulted in a dilution of the Trust’s shares to six per cent.”