wheretherealredsare
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« Reply #30 on: Wednesday, November 28, 2007, 20:05:45 » |
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Perhaps he'd accept a carriage clock?
If Fitton needs 75% of the holding co.(presumably to gain total control?), JW has 51% so how much is held by MD or his nominees?
(Sorry, I know it's been posted before somewhere but I forget ...)
As for a percentage of profits from relocation, the profit would have to be achieved first. Surely there would be many years of very high administration expenses incurred?
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Summerof69
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« Reply #31 on: Wednesday, November 28, 2007, 20:11:21 » |
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Personally, it's 75% of the club shares, which the holding co. holds (they currently hold 70% of the club shares, so 75% is 52.5%, which is a controlling interest).
The percentage of who holds what in the holding company, is up to who you believe, but JW holds over 50%, so can do what he wants with the shares, so if he wants to sell 75% of the club shares which they own for £1, he can.
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wheretherealredsare
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« Reply #32 on: Wednesday, November 28, 2007, 20:19:27 » |
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Sorry So69, but I thought AF wanted 75% of the holding co., which owns 70% of the club. JW owns 51% of the former so therefore controls the holding company and effectively the club even though his part of the club is
just under 36% ... ennit?
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Summerof69
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« Reply #33 on: Wednesday, November 28, 2007, 20:23:21 » |
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But how can he buy 75% of the holding co., when the club is in dispute with Bill P about his £1.12m, saying it's for shares in the holding co., whilst Bill P says it's a loan.
The way I mentioned above, SSW/JW still keeps an interest, but no longer has a controlling interest, which is passed onto Fitton.
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Simon Pieman
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« Reply #34 on: Wednesday, November 28, 2007, 20:32:39 » |
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You keep this board, thing, child, toy
You keep this board, fist, scar, break
You keep this board
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wheretherealredsare
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« Reply #35 on: Wednesday, November 28, 2007, 20:41:43 » |
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One of the things I was trying to understand. Depending on whose version you take BP/PE allegedly have 23 - 33%.
Not wanting to complicate things even more, all I wanted to know was the extent of MD's influence over holding company shares. which hopefully is nowhere near 25%. And who has the 24% needed to top up JW's 51%?
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Summerof69
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« Reply #36 on: Wednesday, November 28, 2007, 21:05:31 » |
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At max it is a third, but as JW owns more than 51%, it is ultimately his decision to sell the shares, because prior to the fun and games about BP's shareholding/non-shareholding, it was reported that JW had 2/3rds of the shares, whilst a another person held the remainder, believed to be MD.
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wheretherealredsare
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« Reply #37 on: Wednesday, November 28, 2007, 21:22:42 » |
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His decision granted, but it doesn't give AF 75% which I believe is needed in a takeover situation to give the new owner unconditional control.
Any buy out specialists out there?
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