NLV EGM item reasons

[George]

I'm no expert but I'd expect the interim board to be very tempory.

 

The other issues on the agenda will pave the way for other investors to take control... 24.9% rule & 10k etc.

 

Assuming that's officially documented somewhere. Remember, V2001 were only supposed to be temporary!

 

With Rob Lee's official backing i'm increasingly confident we will be able to remove the board. Not sure we'll gain enough support to change the 24.9% rule.

 

What happens then? Would Mo and Mark go back to their 24.9% shared bid?

[Jacko51]

why is Mo not being voted onto the interim board?

 

This is not a leading question, just a genuine request for information.

 

Thanks

 

Once the interim Board has been elected, it will be their responsibility to oversee the sale of the club. If the main bid is coming from Mr Chaudry, he clearly cannot be a part of the Board which considers that bid because there would be charges of a conflict of interest.

[RAF Vale]

No one from NLV on interim board

 

All agreed by FA/FL already

 

The EGM is about removing the board and removing the 24.9 percent rule to allow investment and to undo the the stranglehold of the board with their minority shareholding.

 

I am glad you confirmed that, I just spat me coffee all over the desk. I only signed up to get rid of the current lot, not replace them with us lot.

 

Still board meetings in the Bree Louise dose have a certain appeal.

[Birches Head Fred]

Once the interim Board has been elected, it will be their responsibility to oversee the sale of the club. If the main bid is coming from Mr Chaudry, he clearly cannot be a part of the Board which considers that bid because there would be charges of a conflict of interest.

 

Let's just hope that if the present board are thrown out, that when Mo does his 'due dilligence', he doesn't 'run-a-mile'.

[valiantmonkey]

Why do they want to remove the checks from directors though is there something that they might find which they won't like? I am confused by this!

[RAF Vale]

Why do they want to remove the checks from directors though is there something that they might find which they won't like? I am confused by this!

 

Not sure if I have interpreted your question rightly, so sorry if I missed your point.

 

The people that NLV have proposed to make up the interim board have all been approved by the FA/League. In layman’s terms they have passed the “Fit and proper persons check”

 

Hope that answers your question.

[Guest Tony Dyche]

If the resolution requiring 75% fails does that mean that none of the interim board members would qualify to become Directors? Even on a temporary basis? If so, what happens in the event that the board are voted off but nobody qualifies to take there place?

[Fosse69]

Not sure if I have interpreted your question rightly, so sorry if I missed your point.

 

The people that NLV have proposed to make up the interim board have all been approved by the FA/League. In layman’s terms they have passed the “Fit and proper persons check”

 

Hope that answers your question.

 

I received your leaflet in the post, but is it on this site anywhere? I know it would be good to see it in the Senile and hope that M Simms can get an article in too.

[Shropshire_Valiant]

I have a similar question to Tony, what happens if the vote is enough to shift the furtive five but not change the 24.9% rule?

I would imagine it would pave the way for Mo and or Mark to buy shares up to that then call a second GM?

[George]

Please tell me this has been thought through guys............

[Fosse69]

Please tell me this has been thought through guys............

 

Of course it has, with legal advice,and FA/FL agreement. Director profiles to all shareholders, and process explained. NLV are probably off line at present and will confirm. I expect some things will be kept up thier sleeves. ======

[werstayinup]

Assuming that's officially documented somewhere. Remember, V2001 were only supposed to be temporary!

 

With Rob Lee's official backing i'm increasingly confident we will be able to remove the board. Not sure we'll gain enough support to change the 24.9% rule.

 

What happens then? Would Mo and Mark go back to their 24.9% shared bid?

 

With Rob Lee on board,IF we could just get RW as well i would be far far more confident:yes:

[Birdy]

Please tell me this has been thought through guys............

 

It all depends on how the board treats this if they are voted off, whether they accept the will of the shareholders, acknowledgement of defeat would make the process easier.

 

Much of the final legal odds and sods are being drawn up and finalised, as always in law nothing is simple or straight forward but all is being done to cater for every eventuality.

 

One of the purposes of the fans open forum next Wednesday is to answer questions such as these and to be clear what will and could happen.

[HappyClapper]

Once the interim Board has been elected, it will be their responsibility to oversee the sale of the club. If the main bid is coming from Mr Chaudry, he clearly cannot be a part of the Board which considers that bid because there would be charges of a conflict of interest.

I understand the mandate of the interim board will be to oversee the sale of the club, but as has been pointed out, V2001 had that intent.

 

My query is, is there a time frame for the interim board to remain in place?

 

I guess what I am hinting at is, what is to stop the interim board getting their feet under the table a la Bratt? Just suppose that Mo and Mark end up withdrawing their intention to buy shares in the club, is there any safeguard to prevent the interim board from 'squatting'? I imagine there would be, but I'm interested in any stipulation, thanks.

[grebovale]

I understand the mandate of the interim board will be to oversee the sale of the club, but as has been pointed out, V2001 had that intent.

 

My query is, is there a time frame for the interim board to remain in place?

 

I guess what I am hinting at is, what is to stop the interim board getting their feet under the table a la Bratt? Just suppose that Mo and Mark end up withdrawing their intention to buy shares in the club, is there any safeguard to prevent the interim board from 'squatting'? I imagine there would be, but I'm interested in any stipulation, thanks.

 

Well for a start,MARK is on the interim board,I do have a worry that when MO looks at the books and the dept is say £500,000 bigger, he will walk away,