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Post by Northville Blue on Aug 21, 2014 9:49:34 GMT
I agree with this Paul, I suspect GD still holds his shares because nobody was willing to purchase them. When I resigned in 2006 I held my shares for over a year before the club decided that they wanted to buy them back and that was agreed at the same price as what they were purchased for. So we can safely assume that the company (which is I presume BRFC 1883 Ltd?) won't have the cash to buy Geoff's shares (at whatever price could be agreed). So they would need to be purchased by a current director or new investor. As an ex-director NB have the board got to approve the sale of any shares (I think there maybe a rule to this effect in private companies but my memory on the subject is failing!)? Yes the board have to agree to all sale and transfer of shares.
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Post by Antonio Fargas on Aug 21, 2014 10:13:54 GMT
So we can safely assume that the company (which is I presume BRFC 1883 Ltd?) won't have the cash to buy Geoff's shares (at whatever price could be agreed). So they would need to be purchased by a current director or new investor. As an ex-director NB have the board got to approve the sale of any shares (I think there maybe a rule to this effect in private companies but my memory on the subject is failing!)? Yes the board have to agree to all sale and transfer of shares. Is that just a majority vote, do you know?
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alwaysgas
Harry Bamford
Joined: May 2014
Posts: 153
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Post by alwaysgas on Aug 21, 2014 10:20:55 GMT
So we can safely assume that the company (which is I presume BRFC 1883 Ltd?) won't have the cash to buy Geoff's shares (at whatever price could be agreed). So they would need to be purchased by a current director or new investor. As an ex-director NB have the board got to approve the sale of any shares (I think there maybe a rule to this effect in private companies but my memory on the subject is failing!)? Yes the board have to agree to all sale and transfer of shares. Is there a shareholders agreement NB?
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Post by Northville Blue on Aug 21, 2014 10:27:30 GMT
Yes the board have to agree to all sale and transfer of shares. Is there a shareholders agreement NB? I assume there still is Always.
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alwaysgas
Harry Bamford
Joined: May 2014
Posts: 153
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Post by alwaysgas on Aug 21, 2014 11:04:43 GMT
Is there a shareholders agreement NB? I assume there still is Always. I presume then that there is a high percentage of shares needed to effect major change, in the ones I have been involved in it has been as much as 90%.
Presumably the supporters shares are a different class or very small.
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Peter Parker
Global Moderator
Richard Walker
You have been sentenced to DELETION!
Joined: May 2014
Posts: 4,920
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Post by Peter Parker on Aug 21, 2014 11:16:35 GMT
I assume there still is Always. I presume then that there is a high percentage of shares needed to effect major change, in the ones I have been involved in it has been as much as 90%.
Presumably the supporters shares are a different class or very small.
The Share Scheme/SC has less than 7% now anyway doesn't it
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Deleted
Joined: January 1970
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Post by Deleted on Aug 21, 2014 11:32:21 GMT
Has anyone heard from Northville Blue this week, would be interested in his thoughts on this development. He is on holiday
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Deleted
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Post by Deleted on Aug 21, 2014 11:34:45 GMT
Kev, not sure if you saw NH on the tv today, it was said about the investor who looked at rovers and decided to buy into another club. It was made to sound that it was this persons decision and not refused by the board. Do you think any of the former directors will offer to go back? I've also heard the rumours about an offer for the club but I thought that was prior to relegation and the offer was turned down and the investor and his backers took over Oxford United. I also heard that Nick revealed that Colin and Mike had been in discussions with him but that he had turned their proposal(s) down. I have no idea what they were but Mike appears to be happy sorting Solihull Moors out at the moment and has committed three years of his time and money to them to do so. Colin will always have 101 ideas how to sort things out and people would be silly to ignore him. Thought it was Oxford City
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Deleted
Joined: January 1970
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Post by Deleted on Aug 21, 2014 11:40:09 GMT
You Patrician in your fancy box watching the games. I never touched Patricia - I hope you've got a good lawyer, you've got a bit of time to find one as mine's tied up with Cliff at present Whats he doing being tied up on a cliff
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Post by mancgas has left the building on Aug 21, 2014 11:49:44 GMT
I've also heard the rumours about an offer for the club but I thought that was prior to relegation and the offer was turned down and the investor and his backers took over Oxford United. I also heard that Nick revealed that Colin and Mike had been in discussions with him but that he had turned their proposal(s) down. I have no idea what they were but Mike appears to be happy sorting Solihull Moors out at the moment and has committed three years of his time and money to them to do so. Colin will always have 101 ideas how to sort things out and people would be silly to ignore him. Thought it was Oxford City United, and their fans have questioned what if any new cash the 'investor' and his backers have/will introduce, his background being corporate finance should at least make it easier for them to re-finance debt at lower interest and create some 'value' that way, plus his interest in a new stadium for Oxford United, creating value for himself perhaps. They'll no doubt be a better run club, but how much more cash to splash isnt obvious to the fans up there
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Post by Northville Blue on Aug 21, 2014 12:03:06 GMT
Has anyone heard from Northville Blue this week, would be interested in his thoughts on this development. He is on holiday I'm back now Brian and waiting on a meeting on Friday before I reply to your message.
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Post by a more piratey game on Aug 22, 2014 11:00:45 GMT
if he is not on the Board of Directors then he will have no say in the running of the club. It is true that his allies on the Board may act to protect his interests but his only formal input would be via the question time at Rovers AGM I understand that BoD votes are on the basis of 1 director, 1 vote. Where decisions are contentious then voting is based on shareholding so GoD's position will be protected by someone voting as his proxy. so is the process that an EGM has to be called for a decision to go to a shareholding-based vote (or for the matter to be tabled at an AGM)? if so, then Nick can impose his view via EGM/AGM decision, or suggesting that he will do if his view doesn't prevail, but not otherwise?
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