Following the first meeting of the CPO Board since I was appointed director and chairman, I would like to address a few issues that have come to our attention and to set out how we intend to take CPO forward.

If the last few weeks have told us anything it is that people still feel very passionate about CPO and its ethos.

Our previous chairman, Richard King, did a great job over eight years, and we thank him. The remaining directors asked me to rejoin the Board as Chairman as they felt my previous experience at the helm and my fresh ideas about the way forward would be helpful. I aim to prove them right in the eyes of you, the shareholders.

The new Board - Bob, Rick and myself - are keen to re-establish the identity of CPO and to bring in new ideas and new blood.

We will be doing our best to make changes that reflect the range of opinion arising in the debate about Chelsea FC's recent proposal.

That means other new directors will be appointed. We have been talking with various people and will make an announcement on this as soon as possible.

Together, we will aim to reassert the independence of Chelsea Pitch Owners, while recognising that it is natural and correct we maintain strong ties with Chelsea FC going forward.

We are planning to have the CPO AGM in mid-December - pending availability of facilities and staff. At that AGM shareholders will be able to re-elect or vote off any member of the Board, old or new.

The newly elected Board will then decide the strategy of CPO for the next 12 months.

I should also like to address a few issues that I have been picking up. We have heard complaints that a number of shareholders' proxy votes were not allowed at the recent General Meeting.

Should you be one of those shareholders, we would ask you to email cpoinfo@btconnect.com so that we can ask for clarification from the Electoral Reform Services, who independently managed the proxy and voting process on our behalf.

We are also keen to improve the accuracy of the CPO database. If any shareholder feels we may not have their most up-to-date contact details, they should write to us at the same email address - cpoinfo@btconnect.com - with their name, previous address, share number(s) and present contact details.

Rest assured I and my fellow Directors will do our best to keep you informed going forward.

Steve Frankham.