the gunslinger 3,366 Posted May 2, 2014 Share Posted May 2, 2014 Via a share issue forced or otherwise. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,260 Posted May 2, 2014 Share Posted May 2, 2014 Via a share issue forced or otherwise. You do realise those shares have to be offered to existing shareholders first? 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted May 2, 2014 Share Posted May 2, 2014 What's the alternative??? How exactly does DK plan on getting hold of enough shares to gain control without buying them from existing investors??? The Board to decide to look after the interests of all shareholders instead of just a select few and opt for a recapitalisation via rights issue underwritten pro bono by King. Would benefit all parties but most of all the club. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted May 2, 2014 Share Posted May 2, 2014 You do realise those shares have to be offered to existing shareholders first? You really think the holders of circa 20m penny shares are going to take part in a fundraising exercise at twenty times the price they paid for their shares? 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted May 2, 2014 Share Posted May 2, 2014 The Board to decide to look after the interests of all shareholders instead of just a select few and opt for a recapitalisation via rights issue underwritten pro bono by King. Would benefit all parties but most of all the club. but don't existing shareholders get 1st option on the new shares, with the under-writer picking up anything that's left??? If that is the case, it might not leave too many for King.....certainly not enough for control. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,260 Posted May 2, 2014 Share Posted May 2, 2014 You really think the holders of circa 20m penny shares are going to take part in a fundraising exercise at twenty times the price they paid for their shares? They may well do if the price remains low 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted May 2, 2014 Share Posted May 2, 2014 You really think the holders of circa 20m penny shares are going to take part in a fundraising exercise at twenty times the price they paid for their shares? Who, apart from Green actually paid 1p per share??? From my understanding all shares are referred to a "penny shares". My initial understanding was that the initial investors bought in @ £1 per share....they then received a "rebate" due to the IPO share price only being 70p. I can't find any records stating that initial investors only paid 1p - but I'll happily be proved wrong. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted May 2, 2014 Share Posted May 2, 2014 but don't existing shareholders get 1st option on the new shares, with the under-writer picking up anything that's left??? If that is the case, it might not leave too many for King.....certainly not enough for control. Would depend on the size of the issue and the take up, a 2 for 1 offering at 20p would raise roughly £26.5m. I doubt Penny Share holders will be falling over themselves to part with circa 20 times their original investment just to maintain their holdings, just as likely if not more that they may take the opportunity to exit the stage. 0 Quote Link to post Share on other sites More sharing options...
TheTinMan99 0 Posted May 2, 2014 Share Posted May 2, 2014 but don't existing shareholders get 1st option on the new shares, with the under-writer picking up anything that's left??? If that is the case, it might not leave too many for King.....certainly not enough for control. If the existing shareholders do hoover up most of the available shares, then King, as he has said many times, will be happy with that. It's this imaginary thought that King craves complete control that is severely clouding the main issue. The club needs millions in the immediate future. I'm sure King would be more than satisfied if most of it came from other sources. It's a win/win for the club, which is all King is asking for. If it comes about that there is enough shares left for King to gain a controlling interest, then he is happy with that scenario also. The current shareholders don't like this idea, because they already have full control for relatively little investment. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted May 2, 2014 Share Posted May 2, 2014 Who, apart from Green actually paid 1p per share??? From my understanding all shares are referred to a "penny shares". My initial understanding was that the initial investors bought in @ £1 per share....they then received a "rebate" due to the IPO share price only being 70p. I can't find any records stating that initial investors only paid 1p - but I'll happily be proved wrong. Any "rebate" would have been an illegal return of capital. All @ 1p per share Charles Green 5,000,000 Richard Hughes `2,200,000 Imran Ahmad 2,200,000 Margarita Funds Holding Trust 1,300,000 Norne Anstalt 600,000 Putney Holdings 350,000 Elias Kaisar (sp?) 50,000 Jean T Haddad 125,000 Asia Credit Corporation 200,000 Blue Pitch Holdings 2,000,000 Glenmuir Limited 500,000 Craig Mather 500,000 Andy Hosie 450,000 Angus Kinnear 50,000 Patrick Oddie 100,000 Malcolm Murrray 100,000 Ally McCoist 1,000,000 Mike Ashley 1,500,000 Stephen Adams 25,000 Ian Cormack 12,500 John Graham 12,500 John McClure 100,000 John Goold (sp?) 50,000 Colin Howell 100,000 Graham Herring 200,000 David Gourman (sp?) 100,000 That's 18,825,000* all subscribed for at £0.01 per share, real actual price penny shares as opposed to the nominal value that appears to confuse some. The above information should have been included in the Annual Return for TRFCL. (* I hope!) 0 Quote Link to post Share on other sites More sharing options...
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