from thisis

[herthab]

BP and PE have a holding of 16% of the club itself, according to the document that was submitted to Companies House.

23% of the holding company which owns 70% of STFC = 16%

Your confusing the fuck out of me now Si!!

If they have a 'holding' in the parent company, isn't that shares?

[Richard4acre]

BP and PE have a holding of 16% of the club itself, according to the document that was submitted to Companies House.

23% of the holding company which owns 70% of STFC = 16%

This document was submitted by STFC and signed by Bill Power? I doubt it otherwise theyd be no pending court action.

[Simon Pieman]

Sorry - I seem to post this a lot so I just cut down to the basic facts. I will fill out my explanation a bit more:

A company is required to fill out an annual return to companies house. This states who the directors are etc. A return is also filled out when a company wants to declare something has changed - like the shareholders.

In the holding company's return it shows that Bill Power and Phil Emmel own 23% of the shares of the holding company between them. Because the holding company owns 70% of the football club, in effect Bill Power and Phil Emmel own 16% of the football club.

Of course that is if you believe the document. It doesn't get sent in with share certificates it is only signed by the company secretary. So it's really just a form to provide information.

[herthab]

Cheers Si.

[Richard4acre]

Thankyou very much, so how will STFC go about proving Bill Power is a shareholder? Likewise how will Bill Power prove he isn't!

[Simon Pieman]

Well I don't know anything about the legal process, but it would probably be the case that the club have to provide the documentation (i.e. copies of share issue docs) that have been signed in order to prove it is shares. If they can't prove that then it will be regarded as a director loan.

[sonic youth]

...and you'd think that if they had these documents then they would have put an end to the debate a long time ago.

[lebowski]

one thing i will say about this board is that they have educated many a swindon fan in how not to run a business.

i fully expect the town to become a hot-bed of successful football-obsessed entrepreneurs over the coming years.

[TalkTalk]

one thing i will say about this board is that they have educated many a swindon fan in how not to run a business.

i fully expect the town to become a hot-bed of successful football-obsessed entrepreneurs over the coming years.

Ace