RANGERRAB 3,258 Posted October 14, 2014 Share Posted October 14, 2014 Despite repeated requests, you have still to explain how these shares are going to be delivered by a board with absolutely no power. You are like the other side of Rab's coin with this. Wont this need to be approved at an AGM or EGM? Not much chance of that happening I wouldnt have thought 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 14, 2014 Share Posted October 14, 2014 Despite repeated requests, you have still to explain how these shares are going to be delivered by a board with absolutely no power. You are like the other side of Rab's coin with this. i have answered that several times. shareholders will have to vote. knowing a no vote will mean admin. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 14, 2014 Share Posted October 14, 2014 Wont this need to be approved at an AGM or EGM? Not much chance of that happening I wouldnt have thought you think shareholders will choose to repay a loan in cash not shares. cash we wont have. it's possible but it will almost certainly mean admin. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted October 14, 2014 Share Posted October 14, 2014 It is actually potentially a win-win for King - as long as the loan isn't pilfered then his money actually goes into the club to help see it through a difficult time. If the loan can then be converted to shares then his money managed to keep the club afloat but also managed to get him his shareholding he wanted. None of the money going to Greenco, unless pilfered. Not a bad solution, though I suspect there will be more twists and turns yet.... Yep, it's definitely not a bad solution all round, although £16m (if that's the actual figure) for half of the company & Club is a large sum of money, especially when Green & co got the whole lot for significantly less 2 years ago. It'll be interesting to get more info, but there will definitely be more twists & turns. The Easdale/GreenCo/BPH/etc proxy block of 26% could potentially stop a resolution being passed and that doesn't even include the largest shareholder Laxey. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 14, 2014 Share Posted October 14, 2014 perhaps we will find out more tonight. i will have the record at about midnight. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 14, 2014 Share Posted October 14, 2014 Yep, it's definitely not a bad solution all round, although £16m (if that's the actual figure) for half of the company & Club is a large sum of money, especially when Green & co got the whole lot for significantly less 2 years ago. It'll be interesting to get more info, but there will definitely be more twists & turns. The Easdale/GreenCo/BPH/etc proxy block of 26% could potentially stop a resolution being passed and that doesn't even include the largest shareholder Laxey. it's about 20p a share which is indeed steep. 0 Quote Link to post Share on other sites More sharing options...
colinstein 294 Posted October 14, 2014 Share Posted October 14, 2014 If you buy 51% of the shares, you have to offer the other 49% shareholders the same price is that right ? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 14, 2014 Share Posted October 14, 2014 If you buy 51% of the shares, you have to offer the other 49% shareholders the same price is that right ? it's at the highest share price in the last year. you can get dispensation from that normally especially if you are buying at a share issue. repayment of a loan in shares may also change that. not sure. 0 Quote Link to post Share on other sites More sharing options...
colinstein 294 Posted October 14, 2014 Share Posted October 14, 2014 it's at the highest share price in the last year. you can get dispensation from that normally especially if you are buying at a share issue. repayment of a loan in shares may also change that. not sure. what's the highest price in the past year ? 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted October 14, 2014 Share Posted October 14, 2014 what's the highest price in the past year ? Just a fraction below 50p. 0 Quote Link to post Share on other sites More sharing options...
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