This 75% thing

[pauld]

Gaaah! Let's get this sorted out shall we? Fitton et al have bought 75% of the shares in the football club from the holding co, NOT 75% of the holding co. That does not leave Wills/Diamandis still owning 25%, 23% etc. THEY ARE GONE, SOLD UP, THEY ARE EX-OWNERS, THEY HAVE CEASED TO BE (bangs parrot on counter in frustration).

 The remaining shares are owned by small shareholders, mainly individual fans. IIRC the largest block outside the Wills' 70+% was owned by Cliff Puffet and then Wendy Godwin, both of whom had significantly less than 10%.

All clear now?

[Colin Todd]

Thats what I thought Paul.

Is a deal in place with ST Modwen that just needs signing off basically?

[Samdy Gray]

Crystal.

[The Therapist]

not really






























 

[STFC Village]

THEY ARE GONE, SOLD UP, THEY ARE EX-OWNERS, THEY HAVE CEASED TO BE (bangs parrot on counter in frustration)

[pauld]

Thats what I thought Paul.

Is a deal in place with ST Modwen that just needsa signing off?

As I understand it yes, pretty much. Likewise with HMRC, it's just a question of sorting out clearing the debt and getting the dosh transferred over. They're giving themselves some time to sort it out is all. Obviously if people still want to go round in sackcloth and ashes they're welcome to do, but I'm out on the piss after the game tomorrow to celebrate

[REDBUCK]

so nothing else can go wrong then, excellant

[Glostered]

From the adver site.

"The consortium, called Swindon Football Holdings Limited, has entered a conditional agreement to purchase 75 per cent of the club's shares, with former owners the Wills family expected to retain 23 per cent."

http://www.thisisswindontownfc.co.uk/display.var.1920716.0.a_new_dawn.php

I'm confused.

 :?

[Colin Todd]

Are there any potential stumbling blocks?   It all sounds suspicously positive to me now that Mikey D cant insert any more last minute clauses. In fact I know where he can insert his clause now, the cunt

[Matchworn Shirts]

Thats what I thought Paul.

Is a deal in place with ST Modwen that just needsa signing off?

but I'm out on the piss after the game tomorrow to celebrate

Me to

[magicroundabout]

Thats what I thought Paul.

Is a deal in place with ST Modwen that just needsa signing off?

As I understand it yes, pretty much. Likewise with HMRC, it's just a question of sorting out clearing the debt and getting the dosh transferred over. They're giving themselves some time to sort it out is all. Obviously if people still want to go round in sackcloth and ashes they're welcome to do, but I'm out on the piss after the game tomorrow to celebrate

that is what i was thinking it all meant.

Cheers Paul.

obviously people all think it can go through as quickly as other clubs but not all clubs are as fucked over as ours was.

[uktonyn]

so nothing else can go wrong then, excellant

   

[Samdy Gray]

From the adver site.

"The consortium, called Swindon Football Holdings Limited, has entered a conditional agreement to purchase 75 per cent of the club's shares, with former owners the Wills family expected to retain 23 per cent."

http://www.thisisswindontownfc.co.uk/display.var.1920716.0.a_new_dawn.php

I'm confused.

 :?

The holding company owned 75% of the club. Fitton has bought that 75% from the holding company, the holding company now has no more shares in the club.

Wills senior still holds 23% of shares in the football club, he didn't have shares in the holding company.

[pauld]

From the adver site.

"The consortium, called Swindon Football Holdings Limited, has entered a conditional agreement to purchase 75 per cent of the club's shares, with former owners the Wills family expected to retain 23 per cent."

http://www.thisisswindontownfc.co.uk/display.var.1920716.0.a_new_dawn.php

I'm confused.

 :?

Think the Adver might be in this case. Hadn't seen that, but it sounds like a confusion between ownership of the Holding Co (which Wills/Diamandis owned 100%) and the club (which they didn't).

[ahounsell]

According to its accounts, the holding company only had 70% of the shares in the club.

Perhaps the 75% figure is reached by buying out personal shareholdings from the likes of Carson, SSW?

It does sound like the Adver are getting confused between the club and the holding co (easily done) with the 23% thing. If they were doing the deal like that they would have to drop the contention that Power and Emmel own shares in the holding co.