Club1872 share purchase

[Bill 13,717]

1 hour ago, CammyF said:

Yet you are willing to tell them how to run their operation and who they should and shouldn't purchase shares from. Strange. 

Why on Earth would you think that? I assure you I've never told Club1872 to do anything or made any suggestion to them about how they conduct their forlorn affairs. In fact I've never once had any inclination to speak or write to them in any capacity. I wouldn't waste my time. The only place I've ever commented on them has been right here.

Edited April 25, 2023 by Bill

[Bluedell 5,367]

1 hour ago, CammyF said:

 

As for C1872 and its board, I don't know if they stop any member gaining access to the board, they didn't when I was a member but maybe changed their rules.

A member of this forum was threatened when wanting to stand. 

 

Other people have failed a suitability test. 

 

There's also the well-documented case (on FF) of Charles Lewis et al, when they wanted to stand. 

 

Requiring 14 (I think) proposers when you don't know who are members seems a bit OTT. 

 

[CammyF 7,017]

17 minutes ago, Bluedell said:

A member of this forum was threatened when wanting to stand. 

 

 

If that is the case then it is completely unacceptable. Was it a C1872 board member who threatened them? 

 

Edited April 25, 2023 by CammyF

[Bluedell 5,367]

12 hours ago, CammyF said:

If that is the case then it is completely unacceptable. Was it a C1872 board member who threatened them? 

 

Yes although just to clarify that it wasn't a physical threat but it was made clear that the person would not be welcome on the board.

[craig 5,199]

On 24/04/2023 at 14:19, CammyF said:

It appears that with the recent share issue(s) by the club had diluted Club1872s share % and left them under the required number of shares required to have voting rights. This purchase (of DK 20p shares?) means Club1872 have sufficient shares to have voting rights.

In what way wouldnt they have voting rights ?  Every share, presumably of Class A anyway, has voting rights.

 

The 5% that you refer to doesnt prevent them voting - what it actually does is allow them certain rights as a minority shareholder - they can do things such as call a general meeting - but they don't lose voting rights  

[craig 5,199]

On 24/04/2023 at 17:45, CammyF said:

But the current board won't sell shares to Club1872 so I can't see what other option they have. 

 

The club diluted every shareholders shares with the latest issue, so Club1872 have purchased more (we can only assume it was from DK) - I really can't see what people are getting so worked up about. 

 

For a group who are a "tiny irrelevance",  people have a lot to say about them, especially those who aren't members.

 

For the record I am no longer a member of Club1872 but have no issue with them purchasing shares (as that is what they were set up to do).

 

Maybe because they have lined the pocket of an individual as opposed to putting that money into the club

[craig 5,199]

On 24/04/2023 at 18:09, CammyF said:

If the "club" were willing to deal, or even meet with them, then the money would go direct to the club. I can't see the issue with an organisation that was set up to buy shares buying shares. If they can get shares for 20p rather than 25p or 40p, then it makes sense to buy them.

 

They don't hoover up peoples money. People contribute freely (or have done previously), those who continue to be members do so freely.

 

Maybe you should join and put your proposals to Club1872 board and membership? 

That isnt why the organisation was set up though.  It became a core of what they are, but it definitely wasnt why they were set up

[craig 5,199]

On 24/04/2023 at 18:09, CammyF said:

If the "club" were willing to deal, or even meet with them, then the money would go direct to the club. I can't see the issue with an organisation that was set up to buy shares buying shares. If they can get shares for 20p rather than 25p or 40p, then it makes sense to buy them.

 

They don't hoover up peoples money. People contribute freely (or have done previously), those who continue to be members do so freely.

 

Maybe you should join and put your proposals to Club1872 board and membership? 

Financially for C1872, absolutely.  Hopefully they realise that it offers zero benefit financially to the club though.

[craig 5,199]

On 25/04/2023 at 04:43, Bluedell said:

They have shown that they will ignore any suggestions made to them that doesn't fit into their plans and they've made it impossible for any member to join the board without the current board's approval.

Its defacto a dictatorship of about 3 people.

[craig 5,199]

19 hours ago, Bluedell said:

A member of this forum was threatened when wanting to stand. 

 

Other people have failed a suitability test. 

 

There's also the well-documented case (on FF) of Charles Lewis et al, when they wanted to stand. 

 

Requiring 14 (I think) proposers when you don't know who are members seems a bit OTT. 

 

If ever you wanted to see a barrier to entry this is right here.  14 proposers is absolutely MENTAL