Angas
Joined: May 2014
Posts: 2,067
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Post by Angas on Feb 16, 2020 16:46:51 GMT
I wonder if 'a new board member' bought shares a couple of years after the share scheme was launched. Any way of knowing? No, because the last board sold their entire shareholding to the AQ's. edit: with the exception of the SC Oh so they did. I won't pursue that line of thought then
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Angas
Joined: May 2014
Posts: 2,067
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Post by Angas on Feb 16, 2020 16:50:29 GMT
Says the club's solicitors told the prospective purchaser he was forbidden from buying them. They would presumably have explained why. The post doesn't make sense to me at all. To sell something, you have to have it in your possession. Or a note to say you are the owner. Either this person is particularly dim or we're only being given half a story. That made me laugh What gets me is this had me digging through the cupboard to find my share scheme certificate to check the wording. I thought the days of rummaging were behind me.
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Post by droitwichgas on Feb 16, 2020 18:00:25 GMT
According to this article on the BRSC website the SS are held in the SC's name. Interesting it suggests it allows two SC members to sit on the BoD, that certainly does now sound like miss selling!
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Post by fanatical on Feb 16, 2020 18:16:07 GMT
I wonder if 'a new board member' bought shares a couple of years after the share scheme was launched. Any way of knowing? No, because the last board sold their entire shareholding to the AQ's. edit: with the exception of the SC For the purpose of accuracy the Al-Qadi family and the Supporters Club are not the only holders of BRFC 1983 Shares, as are many individual shareholders and different categories of shares. Regarding the shares which are the subject of this thread I would not trust the current advice given.
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Feb 16, 2020 18:25:28 GMT
No, because the last board sold their entire shareholding to the AQ's. edit: with the exception of the SC For the purpose of accuracy the Al-Qadi family and the Supporters Club are not the only holders of BRFC 1983 Shares, as are many individual shareholders and different categories of shares. Regarding the shares which are the subject of this thread I would not trust the current advice given. What is a given is that the ordinary shares cannot be transferred without board approval as the OP's hypothetical friend has been informed.
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Post by a more piratey game on Feb 16, 2020 18:25:35 GMT
No, because the last board sold their entire shareholding to the AQ's. edit: with the exception of the SC For the purpose of accuracy the Al-Qadi family and the Supporters Club are not the only holders of BRFC 1983 Shares, as are many individual shareholders and different categories of shares. Regarding the shares which are the subject of this thread I would not trust the current advice given. Can I ask why you wouldn't trust it?
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Feb 16, 2020 18:36:05 GMT
This might explain it better:
Are shareholders free to transfer or sell their private company shares to someone else? A company's articles of association commonly allow the directors to refuse to register any transfer of a share submitted to the company.
However, they may include other, different restrictions on the transfer of shares. For example, they might require any shareholder who wants to sell shares to offer them to existing shareholders first (so called 'pre-emption rights'), or to offer them back to the company through a 'share buy-back'. The articles might also establish how the price for the shares is to be calculated in each case.
Alternatively, they might provide that shares can be transferred freely between members of the same family, but any other transfers are subject to the usual directors' powers to refuse to register a transfer, or to pre-emption rights in favour of existing members or the company.
Separately from the articles of association, there may also be an agreement between the shareholders that includes restrictions on transfer or sale of shares. This is common where the restrictions are to apply only between the current shareholders of the company, so that an agreement is the appropriate place for them, rather than to both present and future shareholders, in which case the articles (that bind all shareholders, present and future) are the more appropriate place.
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Post by johnmalyckyj on Feb 16, 2020 19:21:01 GMT
I have shares in my own right, I think I obtained them in around about 2002, I am not sure what Mrs Pirate Eye has done with the certificate, but it is somewhere in the house. I am guessing, but I think there are between 60-100 small share holders like myself who are entitled to attend the AGM whose shares were unaffected by the last takeover, we are always notified of the annual meeting. Of course our shares were dilluted in 2006.......My son stands to inherit my shares whether he wants them or not, it would be a matter of regret if he were not able to have them.
Regards
John Malyckyj
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Feb 16, 2020 19:33:40 GMT
What gets me is this had me digging through the cupboard to find my share scheme certificate to check the wording. I thought the days of rummaging were behind me. Indeed. I thought the days of even caring were behind me. It seems I can get tempted now and again.🙃
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Feb 16, 2020 19:34:23 GMT
I have shares in my own right, I think I obtained them in around about 2002, I am not sure what Mrs Pirate Eye has done with the certificate, but it is somewhere in the house. I am guessing, but I think there are between 60-100 small share holders like myself who are entitled to attend the AGM whose shares were unaffected by the last takeover, we are always notified of the annual meeting. Of course our shares were dilluted in 2006.......My son stands to inherit my shares whether he wants them or not, it would be a matter of regret if he were not able to have them. Regards John Malyckyj Or absolute relief on his part. 😁
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Feb 16, 2020 19:43:15 GMT
What gets me is this had me digging through the cupboard to find my share scheme certificate to check the wording. I thought the days of rummaging were behind me. Indeed. I thought the days of even caring were behind me. It seems I can get tempted now and again.🙃 I got sent a blank one, still have it here. What should we write onto it?
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Feb 16, 2020 20:17:43 GMT
Indeed. I thought the days of even caring were behind me. It seems I can get tempted now and again.🙃 I got sent a blank one, still have it here. What should we write onto it? "Not Worth s**t"
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Feb 16, 2020 20:23:01 GMT
I got sent a blank one, still have it here. What should we write onto it? "Not Worth s***" Oi! You do know what level I signed up to that scheme at! Shrewd investment the nice young Man said, you can't take it with you he said, beat the stock market, this opportunity won't be around for long he said. Can't remember his name, sounded like a mixed up jangle of consonants with loads of Js and Ks in it.
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Feb 16, 2020 20:39:51 GMT
Oi! You do know what level I signed up to that scheme at! Shrewd investment the nice young Man said, you can't take it with you he said, beat the stock market, this opportunity won't be around for long he said. Can't remember his name, sounded like a mixed up jangle of consonants with loads of Js and Ks in it. If I'm not mistaken you were one of if not the first Platinum members. Until then I thought you were a shrewd business man.
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Deleted
Joined: January 1970
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Post by Deleted on Feb 16, 2020 20:49:21 GMT
Oi! You do know what level I signed up to that scheme at! Shrewd investment the nice young Man said, you can't take it with you he said, beat the stock market, this opportunity won't be around for long he said. Can't remember his name, sounded like a mixed up jangle of consonants with loads of Js and Ks in it. If I'm not mistaken you were one of if not the first Platinum members. Until then I thought you were a shrewd business man. Why do you think I gave up drinking alcohol! Anyway, you could have given the money back
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Post by gasheadpirate on Feb 16, 2020 20:50:48 GMT
I bought some shares and then the diluted shares. I also bought preference shares that were supposed to provide 5 or 6% interest a year. This happened for a few years but nothing since.... Made enquiries with Mr Hamer, who asked for copies of the shares as the club did not have the details of all the minor shareholders!
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Feb 16, 2020 20:54:12 GMT
If I'm not mistaken you were one of if not the first Platinum members. Until then I thought you were a shrewd business man. Why do you think I gave up drinking alcohol! Anyway, you could have given the money back I took the alternative option and increased my consumption. You should have asked, I held the cheque book for 18 months.
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Feb 16, 2020 20:57:27 GMT
I bought some shares and then the diluted shares. I also bought preference shares that were supposed to provide 5 or 6% interest a year. This happened for a few years but nothing since.... Made enquiries with Mr Hamer, who asked for copies of the shares as the club did not have the details of all the minor shareholders! Are you saying that they still have your preferential share investment and you aren't receiving interest? That was serious money in a region of £30k per share. Unfortunately there was a cop out in the wording which stated that the interest was only payable if the company was in the position to do so.
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Feb 16, 2020 20:58:11 GMT
Why do you think I gave up drinking alcohol! Anyway, you could have given the money back I took the alternative option and increased my consumption. You should have asked, I held the cheque book for 18 months. To be serious for a moment, when I signed up to that scheme, I wasn't interested in the politics of the thing, all it was was a way to directly help the FC during a difficult time, when the Directors were real people who you could stand at a bar, have a drink and a normal chat with. It pains me to say it, but that Rovers, for the moment, is gone.
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Feb 16, 2020 21:02:35 GMT
I took the alternative option and increased my consumption. You should have asked, I held the cheque book for 18 months. To be serious for a moment, when I signed up to that scheme, I wasn't interested in the politics of the thing, all it was was a way to directly help the FC during a difficult time, when the Directors were real people who you could stand at a bar, have a drink and a normal chat with. It pains me to say it, but that Rovers, for the moment, is gone. Bamber, that was the club that I was to be a proud member of. I naively believed that most of those around me felt the same with regards putting the club above all else. Sadly I was mistaken and only the loyalty of those who shared the same views as I ensured that financially I escaped unscathed.(Apart from the £1100 I threw at the share scheme)
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