Subject: Western Province Rugby Football Union statement clarifying recent media reports.
In a recent article published in the media, various statements were made regarding matters relating to the WPRFU. The WPRFU Executive wishes to clarify and correct these statements.
The article referred to matters relating to WPRFU shareholding, financial matters and other topics discussed at a recent general council meeting.
The correct facts are as follows:
- The WPRFU is owned 100% by the clubs which makes up its membership. The article stated that the clubs own 75.1% of the WPRFU.
- The WPRFU is a 75.1% shareholder in Western Province Rugby Pty Ltd which is the professional arm of Western Province Rugby Football Union.
- The article stated the clubs refused to accept the financial statement. This is factually incorrect. All audited financial statements were approved and accepted on 27th February 2012 at a SPECIAL GENERAL MEETING.
- The article stated that the WPRFU â€śbooksâ€ť will undergo further scrutiny. This is factually incorrect.
The WPRFU financial statements do not require further scrutiny as the financial statements were approved at the aforementioned SPECIAL GENERAL MEETING (finance) after the WPRFU and the WP Rugby Pty Ltd financial statements were audited and signed off by the Audit Firm PriceWaterhouseCoopers who conducted an audit of both entities and gave an unqualified Audit Opinion report. These statements were reviewed by the finance committee of the WPRFU as well as the Audit & Risk Committee of both bodies.