@SLBenfica 4 @CelticFC 1. This isn't about one bad night in Lisbon. Benfica are in our Celtic Paradox paper for a reason: a club owned by its members, close to 300,000 of them, that turns its academy into first-team players and transfer income year after year, and plans to compete in Europe every season. A balance sheet is a means, not a trophy. Celtic's board has turned a football club into a savings account: £66.4m in the bank at 30 June, revenue down 22.7%, and no published plan for what the money is for. Yes, £31.6m went on signings this summer. Spending isn't a plan. A plan tells the owners what the money should achieve and how they'll know if it worked. Celtic publishes none of that. No multi-year strategy with targets. No capital allocation policy. No academy plan. Not one of our twelve governance asks met at our last review. That model is a choice. Shareholders can ask the board to make a different one. Fans already own shares in this club. Use them at the AGM: give your proxy, come to the meeting, ask the question. Members' Night, Wednesday 21st October, Glasgow. Join us celticsupporters.net

What David's post means, in plain English: 1️⃣ Celtic's shares trade on AIM, the London Stock Exchange's market for smaller companies. AIM Rule 26 says every company on it must keep certain information on its website and keep it current: who the directors are, which board committees exist and who sits on them. It's how shareholders see who's running the company. 2️⃣ Board committees do specific jobs. The Nomination Committee finds and recommends new directors. The Remuneration Committee sets what directors are paid. Each needs a minimum number of members present to make a valid decision. That minimum is called a quorum. Below it, the committee is "inquorate" and can't properly decide anything. 3️⃣ The public record. Celtic's 2025 Annual Report lists three Nomination Committee members: Peter Lawwell (chair), Dermot Desmond and Tom Allison. Lawwell left the board on 31 December 2025. Allison retired on 15 April 2026. On those numbers, one of the three is left. 4️⃣ On 18 September 2026 Celtic announced two new non-executive directors. So the fair question is this: which committee recommended them, who sat on it, and was it quorate? These are the kind of questions shareholders are entitled to ask, and Celtic should be able to answer them simply. If the website is out of date, update it. If the committees have been rebuilt, tell us who's on them. Shareholders deserve to see how decisions are made. That's all this is about.

On Wednesday(yesterday) at 13:50, @CelticFC updated the Board of Directors and Board Committees pages on its investor website. What they now show: - Nomination Committee (recommends new directors): Dermot Desmond (Chair), Brian Wilson, Mark Keane - Remuneration Committee (sets directors' pay): Brian Rose (Chair), Brian Wilson, Dermot Desmond, Mark Keane What they still show: - "Page reviewed: August 2026", on pages edited in October that list a director appointed in September. - Directors' biographies that don't match the committee lists. A missed update is an oversight. A pattern is a culture. Which is this?