Panda Paws
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« on: Tuesday, November 20, 2007, 16:39:15 » |
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Can't see this elsewhere - if it's been posted, please delete me  Andrew Fitton Led Take-Over
The club's major shareholder, Sir Seton Wills, has informed the Board of STFC that a contractual offer from the Andrew Fitton led consortium has been received.
This offer has been forwarded to the Holding Company's lawyers and it is expected that a response will be forthcoming by the end of this week. |
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axs
naaarrrrrppppp
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« Reply #1 on: Tuesday, November 20, 2007, 16:40:29 » |
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axs
naaarrrrrppppp
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« Reply #2 on: Tuesday, November 20, 2007, 16:41:18 » |
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hopefully things will keep moving.
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janaage
People's Front of Alba
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« Reply #3 on: Tuesday, November 20, 2007, 16:47:46 » |
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Are they using the same lawyers as last time do we know that Southampton practice? I remember Mike W or some FC leader not being that impressed with one of the guys at the firm.
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Fred Elliot
I REST MY FUCKING CASE
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« Reply #4 on: Tuesday, November 20, 2007, 16:49:01 » |
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Clarke Wilmott
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janaage
People's Front of Alba
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« Reply #5 on: Tuesday, November 20, 2007, 16:50:27 » |
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That's the firm Fred, are they still using that lot?
Great to here them confirm an offer has been made, fingers crossed for more progress!!
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RobertT
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« Reply #6 on: Tuesday, November 20, 2007, 16:53:46 » |
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Presumably the offer is buy the Holding Co stake then, in which case Wills is informing himself of the offer so why the delay?
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RobertT
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« Reply #7 on: Tuesday, November 20, 2007, 16:55:14 » |
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actually, SSW is not the major shareholder, the Holding Co is and I'm sure James Wills is the major shareholder in that concern. How odd. Never mind, not long now I suppose.
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Colin Todd
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« Reply #8 on: Tuesday, November 20, 2007, 16:57:29 » |
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please let this work out, please
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pumbaa
Ha, no cunt in my title anymore. Oh.....
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« Reply #9 on: Tuesday, November 20, 2007, 16:57:46 » |
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Probably due to procedural matters.
Following the process is important. Of course, the process is not documented and can be changed on a whim at the discretion of the Board, and is dependent on the prevailing wind direction...
Encouraging news though, end of the week then....
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sonic youth
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« Reply #10 on: Tuesday, November 20, 2007, 17:01:26 » |
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fingers crossed!
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Ardiles
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« Reply #11 on: Tuesday, November 20, 2007, 17:03:27 » |
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I'm just delighted to hear for the first time (although I've not been following things as closely of late) that Fitton is definitely buying a majority stake in the holding company...and that we're not all going to be subjected to another Diamanditic fudge where, infact, Fitton buys in to the FC instead.
Come on, big girl. Start singing!
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Samdy Gray
Dirty sneaky traitor weasel
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« Reply #12 on: Tuesday, November 20, 2007, 17:06:38 » |
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Sounds to me like the deal is all of SSW shares in the club and then some, maybe all, of the holding company - hence SSW has had to pass the letter on to basically say 'here, I've accepted my side of it. Now it's up to you'.
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Dazzza
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« Reply #13 on: Tuesday, November 20, 2007, 17:09:53 » |
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Presumably the offer is buy the Holding Co stake then, in which case Wills is informing himself of the offer so why the delay? This is what I wasn't sure on. Is A.Fitton buying the shares in the club from the holding company or buying the Will's majority in the holding company? Option two would presumably include Diamandis and his shares held by proxy still retaining an involvement. While if we go for option one and the holding company sells A.Fitton the shares in the club what return would the holding Co shareholders (Diamandis) receive? Would it be a proportional percentage of the one pound making it a loss for Diamand Mike’s £1 “for a laugh” investment? That would make my day |
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Samdy Gray
Dirty sneaky traitor weasel
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« Reply #14 on: Tuesday, November 20, 2007, 17:15:07 » |
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Depending on the holding company's Articles of Association, Wills Jnr. owns 51% so could accept an offer for the company.
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