Financial planning slows Eventia IVCA merger vote

Eventia and the International Visual Communications Association (IVCA) originally set out a timetable for completing a merger by the beginning of 2013, however a business plan is yet to be finalised.

The two associations were hoping to hold individual extraordinary general meetings (EGMs) at the beginning of this month (December), for members to vote on a final set of motions, including financial plans for a merged association.

Eventia chairman Simon Hughes and IVCA chief executive Marco Forgione had expected that if the EGMs resulted in a positive vote, a final joint EGM would be held in the new year.

However, Hughes told C&IT that completing financial accounting was still under way, as the IVCA’s end of year is September, while Eventia’s is December.

"We have agreed that in January we will have our consolidated accounts ready for both boards to review, and then we will start publishing a new business plan for the next three years," said Hughes.

"We have realised Christmas is upon us and we need to get our figures out. The business plan will be part of what we will actually vote on. Both of [the associations] now have board meetings set for February, so we hope for the merger in the first quarter of 2013."