Bluedell 5,329 Posted November 10, 2016 Share Posted November 10, 2016 But surely you can't just keep waiting to take up your rights at any future share issue , your % would stay the same , the only way to get to 25% plus 1 is by buying via the open market , unless any of the current board are willing to dilute their shareholding . Not if you're hoping to buy unsubscribed shares from the share issue. Given the resolutions at the AGM, it seems fairly likely that one is planned, so I don't see why consideration can't be given to C1872. Also if C1872 don't have the cash to participate at a share issue, having already used it buying shares from 3rd parties, then their % will fall. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted November 10, 2016 Share Posted November 10, 2016 Not if you're hoping to buy unsubscribed shares from the share issue. Given the resolutions at the AGM, it seems fairly likely that one is planned, so I don't see why consideration can't be given to C1872. Also if C1872 don't have the cash to participate at a share issue, having already used it buying shares from 3rd parties, then their % will fall. That's on the premise that the club sell them ant unsold shares , there maybe current directors who want them , and from what I gather club1872 have more than enough cash to take up their full allocation and more . 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted November 10, 2016 Share Posted November 10, 2016 (edited) Not if you're hoping to buy unsubscribed shares from the share issue. Given the resolutions at the AGM, it seems fairly likely that one is planned, so I don't see why consideration can't be given to C1872. Also if C1872 don't have the cash to participate at a share issue, having already used it buying shares from 3rd parties, then their % will fall. I would expect them to have a certain amount in reserve for this, along with a plan to raise more money before an imminent issue. I can imagine ideas like getting people to pay a year's contributions in advance etc as a one off. Edited November 10, 2016 by calscot 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,329 Posted November 10, 2016 Share Posted November 10, 2016 I would expect them to have a certain amount in reserve for this, along with a plan to raise more money before an imminent issue. I can imagine ideas like getting people to pay a year's contributions in advance etc as a one off. Under their rules only 47.5% of their cash can get used for share purchase. They may well have enough held back (I've got no idea as to their current cash holding) but if so, they should come out and explain it in detail. It could easily be explained to members. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,329 Posted November 10, 2016 Share Posted November 10, 2016 That's on the premise that the club sell them ant unsold shares , there maybe current directors who want them , and from what I gather club1872 have more than enough cash to take up their full allocation and more . If that's the case then the club should be looking to increase the shares being issued. We should not be in the position that the share issue is over-subscribed. Cash into the club should be more of a priority at the moment than C1872 increasing the % of their holding. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted November 10, 2016 Share Posted November 10, 2016 If that's the case then the club should be looking to increase the shares being issued. We should not be in the position that the share issue is over-subscribed. Cash into the club should be more of a priority at the moment than C1872 increasing the % of their holding. This is where I have an issue with the current board , there is no need at this present time for them to swap their investment for equity , but that's exactly what is planned , so in effect they are getting their money back at a time when you quite rightly point out we desperately need cash . We still have no retail nor commercial deals to speak off. , the playing squad needs serious investment away from free transfers , yet the agenda seems to be directors getting their money back pronto . 0 Quote Link to post Share on other sites More sharing options...
BEARGER 1,829 Posted November 10, 2016 Share Posted November 10, 2016 Under their rules only 47.5% of their cash can get used for share purchase. They may well have enough held back (I've got no idea as to their current cash holding) but if so, they should come out and explain it in detail. It could easily be explained to members. Could be I'm not reading you correctly. Are you saying that for every £100 collected from contributors only £47.50 can be used for purchasing shares? What time frame is this in, yearly? Monthly? 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,329 Posted November 10, 2016 Share Posted November 10, 2016 Could be I'm not reading you correctly. Are you saying that for every £100 collected from contributors only £47.50 can be used for purchasing shares? What time frame is this in, yearly? Monthly? That's the default, unless contributors specifically opt for something else. No time period as such. That's just the on-going split. 47.5% for shares, 47.5% for projects and 5% admin costs. Interestingly it appears that the use of the projects cash is subject to a members' vote but not the decision as to whether the shares cash goes to the club or a third party. 0 Quote Link to post Share on other sites More sharing options...
boabie 230 Posted November 10, 2016 Share Posted November 10, 2016 This is where I have an issue with the current board , there is no need at this present time for them to swap their investment for equity , but that's exactly what is planned , so in effect they are getting their money back at a time when you quite rightly point out we desperately need cash . We still have no retail nor commercial deals to speak off. , the playing squad needs serious investment away from free transfers , yet the agenda seems to be directors getting their money back pronto . I'm completely ignorant when it comes to financial matters concerning football clubs so forgive me if I'm way wide of the mark here - is there not something in football regulations about clubs having to live within certain financial limits ? I know that the obsessed have been prattling on for months now about complaints being made to the football authorities of money being loaned to our club. Is it possible that the club are working to reduce the value of any debt so that money can later be loaned to address the squad, etc ? As I say, I'm possibly just dribbling at the mouth here. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted November 10, 2016 Share Posted November 10, 2016 This is where I have an issue with the current board , there is no need at this present time for them to swap their investment for equity , but that's exactly what is planned , so in effect they are getting their money back at a time when you quite rightly point out we desperately need cash . We still have no retail nor commercial deals to speak off. , the playing squad needs serious investment away from free transfers , yet the agenda seems to be directors getting their money back pronto . I don't see it as getting their money back as they'd have to sell for that to actually happen and the only realistic buyers are the Directors and loanees themselves. 0 Quote Link to post Share on other sites More sharing options...
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