Shares for Prospect

[donkey]

I reckon Sandy will miss out on about 17.5% of those that should have shares... :--

[Panda Paws]

The accounts have been "out" in the sense of having been available from Cos House for a week or so now - we ran a piece on the Trust site on them about a week ago. Once the AGM is announced, the Company Secretary should then write to all shareholders inviting them to the AGM and including a copy of the accounts. According to what we and Dave Jackson have been told by Sandy Gray (the Company Secretary) everyone who donated to Prospect in return for STFC shares should be on that list so yes you should get something through the post. Assuming Sandy's telling the truth and/or hasn't cocked it up.

Thanks Paul - can someone give me a shout if they get anything else shareholder-wise through from the club. I'm convinced these sods are going to screw this up ... Just want to make sure we all don't get missed out!!

[Batch]

I've had enough of the incompetents/deliberate stalling. If anyone wants Sandy Gray's direct line number to ask her WTF is going on PM and I'll see if I can dig it out.The more of us that do the better in my book.

For the benefit of STFC staff forum monitors (!):

The number was given to me by a member of STFC staff under the prevision I didn't make it public - which I have observed.

But I lost it and rang the switchboard number a few times, in the end they volunteered her DDI and so in that book it makes it fair game.

[Panda Paws]

I got to say I'm getting so fucked off with this. Surely when you buy shares there's a time limit for them to send out certificates etc? I know I said I wouldn't, but I'm so close to going to the Adver over this.

[Simon Pieman]

I'm a little confused as to who now holds the stock transfer forms. Is it the club? If so, why do they have them (if you pardon my ignorance).

I thought the "seller" sent the stock transfer form to the "buyer" (I know it isn't exactly like a sale/purchase), who then sent it onto the club?
Have the club agreed to sort it out on Mr Jackson's behalf?

[Panda Paws]

God only knows Si. Think this is part of the frustration of the whole thing. Nobody seems to have a Scooby about what's going on.

[pauld]

Dave Jackson filled out all the required paperwork to effect the transfer in Jan/Feb. Sandy Gray as Company Secretary then promised to notify the registrar and get them to send out the certificates to the new shareholders. She says she has done this and that the problem is with the registrar's computer system which has apparently been unable to print certificates, send letters or indeed do anything much for about 7-8 months. I told her over a month ago I found that literally incredible (as in "not credible"). She promised to chase it up and at least get letters sent out to people. Since when, jack shit.

[Phil_S]

Am I right in saying that these are shares in the Football club itself. The majority of which are held by the holding company. The majority of the shares in the holding company are/ were owned by Wills, Mikey D & co.
We were told that the 3 Amigo's consortium is/ was buying 75% of the holding company from WMD & Co, leaving WMD with 25%.
Separately the club allege that Bill P was sold between 22% & 33% of the shares last year. (Depending which, if any of Bob Holts statements were true )
Perhaps the certificates haven't been issued because Sandy G can't get the percentages to add up to 100% ?! This would also account for the delay in the takeover.

[Panda Paws]

Perhaps the certificates haven't been issued because Sandy G can't get the percentages to add up to 100% ?! This would also account for the delay in the takeover.

Her abacus probably had a few extra beads on it.

[pauld]

Am I right in saying that these are shares in the Football club itself.

Yes. But this is a wholly separate matter from any takeover. For one thing the number of shares involved is so small as to make no difference whatever. For another, this has been in Sandy's in-tray for the best part of 9 months now, ie well before the Portugeezers were on the scene. It's simple incompetence/laziness <disclaimer>(although not necessarily on Sandy's part)</disclaimer>

We were told that the 3 Amigo's consortium is/ was buying 75% of the holding company from WMD & Co, leaving WMD with 25%.

I don't know who you were told that by, so far as I know that was only ever a piece of speculation in the press, but I'd be happy to be corrected, there's been so much people have been told as fact about this whole thing that has subsequently turned out to be, erm, less than factual. FWIW, Jim Little told us (and we passed this on to Trust members both at the meeting and in the subsequent email) that the Amigos were buying a majority stake in the football club from the holding co ie they were effectively by-passing the holding co altogether as a vehicle of ownership. Whether that's still the intention is anyone's guess.

[Panda Paws]

Well, I've emailed the club about it with a complaint ... included "strong possible terms" and the threat of going to the press ... we'll see what they say.

[Simon Pieman]

I'm a little confused as to how share certificates can be issued without the new owner of the share signing anything. Is it simply a case of not needing to as it is a freebie as it were?

To transfer shares in a private or unlimited company, a seller must complete and sign the appropriate section of
a 'stock transfer form' - available from law stationers - and pass it, together with the share certificate, to the new
owner.
The new owner must then complete their section of the stock transfer form, pay any stamp duty to the Inland
Revenue and pass the completed form and share certificate to the company. The company secretary then
arranges for the directors to authorise the change to the members' register and issues a share certificate in the
new name.

s0urce: companies house

[Panda Paws]

They've not even asked for a signature, Si ...

[Simon Pieman]

Yeah I know, as I'm one of the people waiting

[Phil_S]

Am I right in saying that these are shares in the Football club itself.

Yes. But this is a wholly separate matter from any takeover. For one thing the number of shares involved is so small as to make no difference whatever. For another, this has been in Sandy's in-tray for the best part of 9 months now, ie well before the Portugeezers were on the scene. It's simple incompetence/laziness <disclaimer>(although not necessarily on Sandy's part)</disclaimer>

We were told that the 3 Amigo's consortium is/ was buying 75% of the holding company from WMD & Co, leaving WMD with 25%.

I don't know who you were told that by, so far as I know that was only ever a piece of speculation in the press, but I'd be happy to be corrected, there's been so much people have been told as fact about this whole thing that has subsequently turned out to be, erm, less than factual. FWIW, Jim Little told us (and we passed this on to Trust members both at the meeting and in the subsequent email) that the Amigos were buying a majority stake in the football club from the holding co ie they were effectively by-passing the holding co altogether as a vehicle of ownership. Whether that's still the intention is anyone's guess.

Understand that it's a separate issue, re the prospect shares, but it got me thinking again, on how they can talk percentages that are being bought when they don't know whwho owned what prior to the takeover.
I can't remember where it came from, but think it may well have been one of the first press interviews with Jim Little or could have been Bobby Holt, but those % were definitely mentioned. The question is (as was said by Arthur H at the last TRUST meeting), "What are they buying exactly". I know that if I was dealing with them, I'd want to know the answer as a certainty, not as a "Mikey D is dealing with it", before parting with any readies