Deleted
Joined: January 1970
Posts: 0
|
Post by Deleted on Feb 16, 2020 21:48:19 GMT
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) The glass half full view though, for me at least, is that I've met some people that I'm proud to call friends. I have no idea what these owners are up to, but it looks like a huge car crash waiting to happen. Never say never, eh  |
|
Deleted
Joined: January 1970
Posts: 0
|
Post by Deleted on Feb 16, 2020 22:13:18 GMT
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) The glass half full view though, for me at least, is that I've made some people that I'm proud to call friends. I have no idea what these owners are up to, but it looks like a huge car crash waiting to happen. Never say never, eh Apparently there’s good news on the way in October, Just need to sort they year. Those Saudi’s are quite lively on Twitter though. |
|
Deleted
Joined: January 1970
Posts: 0
|
Post by Deleted on Feb 16, 2020 22:39:30 GMT
The glass half full view though, for me at least, is that I've met some people that I'm proud to call friends. I have no idea what these owners are up to, but it looks like a huge car crash waiting to happen. Never say never, eh Apparently there’s good news on the way in October, Just need to sort they year. Those Saudis are quite lively on Twitter though. Twitter schmitter. Pile of old borrocks. As if anybody serious would advertise their intentions in that way. In fact, these owners love a NDA, so if anything is being said on Twitter you can most likely discount it from the get-go. |
|
|
|
Post by gasheadpirate on Feb 17, 2020 6:42:56 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. On the first sentence, yes. On the second no, a lot less than that was invested by me. |
|
Peter Parker
Global Moderator
Richard Walker
You have been sentenced to DELETION!
Joined: May 2014
Posts: 4,920 
|
Post by Peter Parker on Feb 17, 2020 8:40:23 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. If i remember correctly some preferential shares were purchased back in the takeover according to the accounts. I assume those probably belonged to Geoff or Nick Higgs, Ed Ware etc |
|
|
|
Post by fanatical on Feb 17, 2020 10:45:51 GMT
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? Because I have spoken to WAQ who appears not to know the difference between the various shares. |
|
|
|
Post by fanatical on Feb 17, 2020 10:54:21 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. There are still just a few holders of Preference shares and interest should be being paid or at least accrued. Unfortunately, with the changes in the boardroom, and the lack of transparency from the secretary, who knows what is happening now? Perhaps we will find out when the accounts are produced or at the AGM?? |
|
kingswood Polak
Without music life would be a mistake
Joined: May 2014
Posts: 10,255
|
Post by kingswood Polak on Feb 17, 2020 10:56:05 GMT
As far as I am aware once share scheme implemented you gave up your rights to sale them BRSC are in fact the owners of the block of shares paid for in their name. So it's the Supporters Club's fault again!!  It’s a strange one isn’t it. Playing devils advocate here, the SC have provided for a roof over the north stand and have been giving money to the club and, whether anyone likes them or not, they have backed the club with the money their volunteers have collected. I think many need to ask themselves, what have I done ? I think it’s vital to maintain a totally independent SC and that it’s been proved that our current owners just aren’t very good with using funds that will directly help the club. I would not like the idea, not one bit, of the club buying the SC out and for obvious reasons. I am not a member but I do see a valid reason why any SC should be independent. |
|
Deleted
Joined: January 1970
Posts: 0
|
Post by Deleted on Feb 17, 2020 11:25:04 GMT
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. There are still just a few holders of Preference shares and interest should be being paid or at least accrued. Unfortunately, with the changes in the boardroom, and the lack of transparency from the secretary, who knows what is happening now? Perhaps we will find out when the accounts are produced or at the AGM?? Who is the current company secretary? I'm amazed that the AQ's took on the club with the Preference Shares outstanding. It makes you wonder how diligent they were prior to take over considering the high level of interest due on those shares. |
|
Deleted
Joined: January 1970
Posts: 0
|
Post by Deleted on Feb 17, 2020 11:27:31 GMT
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. On the first sentence, yes. On the second no, a lot less than that was invested by me. I think you need to get along to the next AGM and demand some answers. If what Fanatical says is true, and I don't doubt his word, then I'm not sure the current owners know that your Preferential shares exist. |
|
kingswood Polak
Without music life would be a mistake
Joined: May 2014
Posts: 10,255
|
Post by kingswood Polak on Feb 17, 2020 11:28:32 GMT
There are still just a few holders of Preference shares and interest should be being paid or at least accrued. Unfortunately, with the changes in the boardroom, and the lack of transparency from the secretary, who knows what is happening now? Perhaps we will find out when the accounts are produced or at the AGM?? Who is the current company secretary? I'm amazed that the AQ's took on the club with the Preference Shares outstanding. It makes you wonder how diligent they were prior to take over considering the high level of interest due on those shares. That, it seems, is not being paid. No real surprise there though |
|
Deleted
Joined: January 1970
Posts: 0
|
Post by Deleted on Feb 17, 2020 11:28:34 GMT
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. If i remember correctly some preferential shares were purchased back in the takeover according to the accounts. I assume those probably belonged to Geoff or Nick Higgs, Ed Ware etc Hmmm!!!!  |
|
Peter Parker
Global Moderator
Richard Walker
You have been sentenced to DELETION!
Joined: May 2014
Posts: 4,920
|
Post by Peter Parker on Feb 17, 2020 11:39:32 GMT
If i remember correctly some preferential shares were purchased back in the takeover according to the accounts. I assume those probably belonged to Geoff or Nick Higgs, Ed Ware etc Hmmm!!!!  |
|
|
|
Post by gasheadpirate on Feb 17, 2020 12:34:12 GMT
On the first sentence, yes. On the second no, a lot less than that was invested by me. I think you need to get along to the next AGM and demand some answers. If what Fanatical says is true, and I don't doubt his word, then I'm not sure the current owners know that your Preferential shares exist. I gave copies of my shares to Steve Hamer by email soon after the takeover. I contacted the Club last night. |
|
Peter Parker
Global Moderator
Richard Walker
You have been sentenced to DELETION!
Joined: May 2014
Posts: 4,920
|
Post by Peter Parker on Feb 17, 2020 12:42:52 GMT
Who is the current company secretary? I'm amazed that the AQ's took on the club with the Preference Shares outstanding. It makes you wonder how diligent they were prior to take over considering the high level of interest due on those shares. That, it seems, is not being paid. No real surprise there though To be fair, it's not being paid as there is no dividend to pay. They are cumulative preference shares so the interest/dividend should be accumulating |
|
|
|
Post by Curly Wurly on Feb 17, 2020 13:21:51 GMT
So it's the Supporters Club's fault again!! It’s a strange one isn’t it. Playing devils advocate here, the SC have provided for a roof over the north stand and have been giving money to the club and, whether anyone likes them or not, they have backed the club with the money their volunteers have collected. I think many need to ask themselves, what have I done ? I think it’s vital to maintain a totally independent SC and that it’s been proved that our current owners just aren’t very good with using funds that will directly help the club. I would not like the idea, not one bit, of the club buying the SC out and for obvious reasons. I am not a member but I do see a valid reason why any SC should be independent. My response was entirely tongue in cheek KP. I'll not expand the Supporters Club debate on here as it is being well debated on the Ken Masters thread. |
|
DCR
Joined: May 2014
Posts: 62
|
Post by DCR on Feb 17, 2020 14:53:51 GMT
Philton.
This is the internet , they aren't interested in the truth
|
|
Deleted
Joined: January 1970
Posts: 0
|
Post by Deleted on Feb 17, 2020 14:56:52 GMT
I think you need to get along to the next AGM and demand some answers. If what Fanatical says is true, and I don't doubt his word, then I'm not sure the current owners know that your Preferential shares exist. I gave copies of my shares to Steve Hamer by email soon after the takeover. I contacted the Club last night. Good luck, I hope you get your cash back soon. |
|
trunky
Joined: June 2014
Posts: 230
|
Post by trunky on Feb 17, 2020 16:48:09 GMT
Unfortunately anyone who holds shares in BRFC are bagholders.
|
|
|
|
Post by splitter on Feb 17, 2020 16:58:56 GMT
Looking at the latest statement of capital it states for preference a, b, and c shares, "The shares have attached to them no voting, full dividend and capital distribution (including on winding up) right; they do not confer any rights of redemption".
"Non-redeemable" shares cannot be redeemed during the lifetime of the company, but can only be obtained at the time of winding up.
Moral of the story; be careful what you buy, always read the small print.
If it is not preference shares that you bought, but ordinary shares, that is different of course. As I remember, when ordinary shares were available is was at a price of around £20 per share. This was more of a way of raising money selling a token share for way more than it was worth just so gasheads would have a nice souvenir to put on the wall. I think the actual value of a share at that time was closer to 50p. Even so, I'm pretty sure the owners have to approve any transfer of ordinary shares.
|
|
