|
Title: Power's Shares - AGM Post by: Dazzza on Monday, October 30, 2006, 21:26:38 Quote A query regarding the cash injection of short-term director Bill Power was met with the response that the cash remained with the holding company, as this had been a share purchase rather than a loan. Just scanning through the Adver’s write up on the AGM and the above snippet struck me as being a little anomalous (word of the day). Maybe I’m reading that a little to literally but does that mean the cash is sat for the best part unused, presumably minus King's payoff in the holding company or is referring to Power’s overall investment? While the loan/share purchase issue is contested by the Power camp from the perspective that it was a shareholding, what benefit would there have been in an issue in the holding company rather than the club itself? In terms of a loan I can understand the logic that the investment is then protected from the subsidiary’s debts. But for a minority shareholding in a holding company in terms of influence wouldn’t that equate to a big fat 0 and make the shares almost worthless? Title: Power's Shares - AGM Post by: fatbury on Monday, October 30, 2006, 21:33:04 i think youve answered your own questions
Title: Power's Shares - AGM Post by: Dazzza on Monday, October 30, 2006, 21:35:07 Quote from: "fatbury" i think youve answered your own questions I'm not convinced but it's a possible explanation for the rift that never happened and disagreement over the loan/share issue argument. Title: Power's Shares - AGM Post by: RobertT on Monday, October 30, 2006, 22:01:39 The club reps advised the money had been spent when we last asked - came in a few seperate amounts and each paid off existing debts or current commitments.
Title: Power's Shares - AGM Post by: Dazzza on Monday, October 30, 2006, 22:02:32 Quote from: "RobertT" The club reps advised the money had been spent when we last asked - came in a few seperate amounts and each paid off existing debts or current commitments. Thanks Rob but was there anything mentioned at the AGM why it was in the holding company and not the club? Title: Power's Shares - AGM Post by: RobertT on Monday, October 30, 2006, 22:29:58 No idea, not a shareholder. I was stood outside looking menacing enough for the security staff to stop me from putting out flags.
|