It isn't actually a medal, it was given to everybody attending the festivities for the 75 years of existence of either a club or an event. 'P' could stand for 'paarden', but who knows. A google search didn't give any clues. Fashion changes club names, clubs merge or cease to exist. Sorry, you will have to ask somewhere else, horses don't have wheels.
Uncle Stretch obviously knows what a frying pan is for.