Ian RoyalUkeloyalroyal4life Rule number 1 : Do your DD
Rule number 2 : You can only do DD on what you are shown
Rule number 3 : DD being done fully and thoroughly doesn't guarantee things will be fine.
Retard is indeed an offensive word but bordering on worthy in this instance.
Sub-clause 4a - If the transaction by the cut off, shares can not be resold for a period of one year during which time the seller can exercise an option to buy back some or all of the shares at the original sale price.RoyalBlueIan RoyalUke Rule number 2 : You can only do DD on what you are shown
Rule number 3 : DD being done fully and thoroughly doesn't guarantee things will be fine.
Rule number 4: A well drawn up sale and purchase agreement can prevent you ending up in the shyte with a virtually worthless 49% minority shareholding if rule number 3 kicks in!
If one person didn't own 51% it would be a controlling interest. At the moment, If Anton said he wanted to change the chairman, sell the ground and groundshare with Swindon Town there isn't anyone out there who can stop him.melonhead lol at 49% of the club being "virtually worthless"
Royal BiscuitmanIf one person didn't own 51% it would be a controlling interest. At the moment, If Anton said he wanted to change the chairman, sell the ground and groundshare with Swindon Town there isn't anyone out there who can stop him.melonhead lol at 49% of the club being "virtually worthless"
This is where we may regret having a weak supporters trust who in my view donate money out left right and centre like some sort of charity instead of investing it so that they can take action if need be..... Hmm, actually, STAR do own shares in the club and I know someone (maybe the Cube) tracked down some Lord or Earl whose family held some shares and persuaded him to sell them to STAR at the going rate years back as he was into power to the people and all that.
I imagine though, for example if STAR and others own 5% of Reading FC the other 95% is held by a holding company and it is that holding company that Anton/TSI own 51% of.... so they would have 51% of 95% and not 51% of 100%.... Anyone know the facts on this?
UkeRoyal BiscuitmanIf one person didn't own 51% it would be a controlling interest. At the moment, If Anton said he wanted to change the chairman, sell the ground and groundshare with Swindon Town there isn't anyone out there who can stop him.melonhead lol at 49% of the club being "virtually worthless"
This is where we may regret having a weak supporters trust who in my view donate money out left right and centre like some sort of charity instead of investing it so that they can take action if need be..... Hmm, actually, STAR do own shares in the club and I know someone (maybe the Cube) tracked down some Lord or Earl whose family held some shares and persuaded him to sell them to STAR at the going rate years back as he was into power to the people and all that.
I imagine though, for example if STAR and others own 5% of Reading FC the other 95% is held by a holding company and it is that holding company that Anton/TSI own 51% of.... so they would have 51% of 95% and not 51% of 100%.... Anyone know the facts on this?
STAR own < 0.01% of the shares in The Reading Football Club (Holdings) PLC who own 49% of The Reading Football Club Ltd
Holdings
Club
So ultimately they have <0.0049% of the control of RFC
RepressedRoyal3points I know for a fact that SJM needed cash to bail out Sackville Properties, otherwise it was going into administration. So he took the cash available from AZ at the time. I think he probably did have some concerns through his DD which is why he only sold a 51% stake, and didn't sell the hotel either. If it wasn't a "concern" then AZ never had the money to buy everything at the time, which should have raised alarm bells. But desparate men do desparate things. Can't fault SJM trying to save his main business venture - RFC just happened to be the pawn in the middle
I remember seeing that weir documentary about him a few years back and it appeared at the end had was scrambling for cash and was really deflated when went down in 2008.
I don't know anything about his ventures but it always used to make me laugh when he used to bleat on about footballers earning so much money when, all said and done, he made his money scamming an American car magazine.
Fair play to him for that but sometimes I think that people on here see JM as some ace business brain who is a major player in the world of business and finance. He isn't.
I totally agree that he took that Russian cash as a desperate man and wouldn't surprise me if he is in big financial trouble. A buyer is probably need pretty quickly as if we don't go up, debt escalates at the same rate as wealth.
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