pauld
Aaron Aardvark
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Posts: 25436
Absolute Calamity!
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« Reply #300 on: Thursday, April 29, 2021, 09:15:20 » |
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one would hope that if power did sell for £1 that Clem would get his rightful 15p.
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Robinz
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Posts: 809
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« Reply #301 on: Thursday, April 29, 2021, 11:12:46 » |
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Interesting comments about the rights of a minority shareholder........ In a previous life I was founding member and Director of a then small software IT company with a 49% shareholding. The company grew to having offices in Auckland Sydney and agencies in Asia and London. As with many fledging companies the fun started and trust honesty and initial ideals went out the window. After a melt down at Board room level legal representatives arrived and that was the beginning of the end for me. As a then 20% shareholder of a multi Million dollar company I was advised the rights of a minority shareholder is basically f#ck all. These comments were proven 100% correct. Yes, you can fight and wriggle as much as you like however, experience has shown just recover as much as you can from a bad situation and move on. Tricksters like our one will pull everything and everyone down to their level and they don't care who and what they destroy in the process.
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BambooToTheFuture
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Posts: 10142
I'll Tell Ya Now - McGurk Is The New Graham
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« Reply #302 on: Thursday, April 29, 2021, 12:20:37 » |
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Out of interest RNZ, how did you go from being a 49% Shareholder (I take it just two of you) to a 20% Shareholder? I am assuming you did cash in/sold 29% of your share at some point or am I looking at that with hopeful eyes?
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'Incessant Nonsense' ______________________________________________________________
'I'm gonna tell you the secret. There's a threat, you end it and you don't feel ashamed about enjoying it. You smell the gunpowder and you see the blood, you know what that means? It means you're alive. You've won. You take the heads so that you don't ever forget.'
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RobertT
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Posts: 11715
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« Reply #303 on: Thursday, April 29, 2021, 13:32:29 » |
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Probably the same way Black managed it here, by diluting the minority shareholding. For the all the positive comments they get, they pretty much stitched up every fan of Swindon who had ever purchased shares in the club.
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Legends-Lounge
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Posts: 8254
Non PC straight talking tory Brexit voter on this
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« Reply #304 on: Thursday, April 29, 2021, 13:36:08 » |
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Probably the same way Black managed it here, by diluting the minority shareholding. For the all the positive comments they get, they pretty much stitched up every fan of Swindon who had ever purchased shares in the club.
Including me.
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Legends-Lounge
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Posts: 8254
Non PC straight talking tory Brexit voter on this
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« Reply #306 on: Thursday, April 29, 2021, 13:45:28 » |
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Out of interest RNZ, how did you go from being a 49% Shareholder (I take it just two of you) to a 20% Shareholder? I am assuming you did cash in/sold 29% of your share at some point or am I looking at that with hopeful eyes?
It sounds to me that as the company grew more capitol was required. Either you borrow it, finance it yourself (keeping the share cap the same) or you issue more shares for the Capitol invested thus diluting the original share cap.
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Pookemon
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Posts: 727
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« Reply #307 on: Thursday, April 29, 2021, 23:57:19 » |
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Hopefully back on track here. I presume some knowledgable chap on here will know.
Does Clem as a minority shareholder have any say in Power selling to Able for £1? As it would, obviously, be hugely detrimental to him does he get any protection from Power’s antics.
And, are Able willing to buy the club other than for Power’s Pound and/or out of Admin? What’s happened to their offer of £7.5m which was in the Letter Power said didn’t exist.
In the UK, the companies act includes the concept of "Unfair prejudice" which protects the rights of the minority shareholder. It stops them being screwed in this manner. CM has offered to buy Power out and take on all creditors in full so the judge will find in favour of him if Power is only willing to offer him 15p! This is not a concept in NZ or Oz so would not have saved Robinz
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tans
You spin me right round baby right round
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« Reply #308 on: Friday, April 30, 2021, 07:15:44 » |
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So its d-day where LP has to give Morfuni documents.
Do we reckon he will or not?
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swindonmaniac
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Posts: 3846
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« Reply #309 on: Friday, April 30, 2021, 07:22:47 » |
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So its d-day where LP has to give Morfuni documents.
Do we reckon he will or not?
Anyone know What are the likely consequences if he doesn't comply ?.
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Life is a Rollercoaster - Just gotta ride it.
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Flashheart
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« Reply #310 on: Friday, April 30, 2021, 07:34:51 » |
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Anyone know What are the likely consequences if he doesn't comply ?.
At the very least, it would surely mean the judge refuses to lift the injunction?
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Legends-Lounge
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Posts: 8254
Non PC straight talking tory Brexit voter on this
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« Reply #311 on: Friday, April 30, 2021, 07:52:23 » |
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At the very least, it would surely mean the judge refuses to lift the injunction?
Contempt of court.
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4D
Or not 4D that is the question
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Posts: 21915
I can't bear it 🙄
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« Reply #312 on: Friday, April 30, 2021, 07:56:16 » |
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Crackity Jones
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« Reply #313 on: Friday, April 30, 2021, 08:47:50 » |
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So its d-day where LP has to give Morfuni documents.
Do we reckon he will or not?
I don't think it's in his interests not to comply. I imagine he will leave it to 23:59:59 to press send.
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JBZ
Not as likeable as Reg was, a fencesitting WUM
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Posts: 3264
Allegedly, not a Swindon Town supporter
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« Reply #314 on: Friday, April 30, 2021, 09:07:18 » |
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Court orders typically refer to a deadline of 4 pm on a particular day
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Nothing to see here
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