Bluedell 5,329 Posted April 23, 2012 Share Posted April 23, 2012 are they as administrators, not allowed to issue to new shares such that whyte's shares get watered down to nothing? These would be sold to the winning bidder? Too simple? They'd need to increase the authorised share capital of the company which would need an SGM, I believe. Possible but time consuming. 0 Quote Link to post Share on other sites More sharing options...
capstans 0 Posted April 23, 2012 Share Posted April 23, 2012 (edited) Indeed they are covered all evemtualites did Whyte, the admin cac take nothing from Whyte which he legally owns. Edited April 23, 2012 by capstans 0 Quote Link to post Share on other sites More sharing options...
Danny 0 Posted April 23, 2012 Share Posted April 23, 2012 I'm done with entertaining rumours and supposed sources. Not that I ever did so anyway. Maybe he has reason to lie, I don't know. All I know is rumours, counter rumours and misinformation is hurting the club every bit as much as a failure to find a new owner. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted April 23, 2012 Share Posted April 23, 2012 Do they have the power to get Whyte's shares? I don't see any reason why they shouldn't be able to get the power from the court if they don't already have the power to just sell the club including the majority shareholding in it. If they thought they needed to take it to the court it raises the questions why the hell did they not do so 2 months ago and why have they been brushing aside the idea of Whyte being an issue while supposedly trying to sell the club? Everything seems to point to D&P working on Whyte's behalf to secure him a pay off. 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted April 23, 2012 Share Posted April 23, 2012 I'm done with entertaining rumours and supposed sources. Not that I ever did so anyway. Maybe he has reason to lie, I don't know. All I know is rumours, counter rumours and misinformation is hurting the club every bit as much as a failure to find a new owner. Aye, every day we have a rumour it costs us twenty five grand. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted April 23, 2012 Share Posted April 23, 2012 Don't know. I've never heard of it before but it may be possible, but it doesn't take away from the fact that Whyte still owns his shares. I'm led to believe they can go down that route but the result would have to be a mammoth amount of new shares issued in order to render Whytes' shareholding impotent but alas that would also have the same effect upon the other 26,000 shareholders, also it could be subject to legal challenge. 0 Quote Link to post Share on other sites More sharing options...
Danny 0 Posted April 23, 2012 Share Posted April 23, 2012 Aye, every day we have a rumour it costs us twenty five grand. At this point morale is as important as money. 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted April 23, 2012 Share Posted April 23, 2012 At this point morale is as important as money. Aye, ok, we all stay happy and it will all go away. Hippy nonsense. 0 Quote Link to post Share on other sites More sharing options...
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