Shareholders Must Decide on any Deal

[tisdeano]

Who are these connected parties?

 

Just a whisper that two lots of shares @ 24.9% may possibly be bought

[Burslem Academicals]

From what I recall the shareholders will asked to vote on the appointment of Directors, the investment will be the decision of the three current dictators.

 

So in short the future of this 'fan run club' will be decided by three untrustworthy individuals who have less than 15% of the shareholding who have had a VONC against them. Disgraceful.

 

The 28% Cartel bought the Broxap shareholding and thus the gang have 32%

and once they give away 24.9% to Ameriturf who only wanted sponsorship then at around 55% once the deal is done there is no need to ask shareholders to vote on the appointment of Directors.....they can do another sham postal vote and declare over 50% in a milli-second.....they don't have to answer to anyone and if they wanted Jackson/Meigh/Mudie could return and Bratt and Oliver could even stop on although Bratt wants to get more money out of the club....they can even vote Mark Sims off and still nobody has seen the books.

This does seem to be the deal to end all EGM's.....

[IDF]

what happens if the new directors to be voted onto the board dont get the required %??

[Burslem Academicals]

what happens if the new directors to be voted onto the board dont get the required %??

 

Well if the Cartel had 28% plus Broxap plus the Ameriturf 24.9% then they have 55% and complete control.....they can vote who they want on and off the Board....it really is game over all for 400k.

[George]

Mo Chaudry and Mark Sims are not "connected parties" they are two individuals with seperate companies and business interests....there

was no reason and still is no reason to turn down 24.9% from each.

 

Not true in the slightest and you know it.

 

They even announced they had formed the 'Port Vale Consortium' in order to buy there shares. You can't get much more 'connected' than that.

[tisdeano]

Not true in the slightest and you know it.

 

They even announced they had formed the 'Port Vale Consortium' in order to buy there shares. You can't get much more 'connected' than that.

 

Clearly making it impossible for any other "connected parties" to invest ?

 

Well you would hope so.......wouldnt you............Bill & Glenn wouldnt vote in favour would they....

[George]

Clearly making it impossible for any other "connected parties" to invest ?

 

Well you would hope so.......wouldnt you............Bill & Glenn wouldnt vote in favour would they....

 

Not disagreeing Deano. It stinks. They should have been allowed to invest. If they were a 'consortium' then so were the V2001 board.

[IDF]

Well if the Cartel had 28% plus Broxap plus the Ameriturf 24.9% then they have 55% and complete control.....they can vote who they want on and off the Board....it really is game over all for 400k.

 

everyone is assuming though that Jackson will vote in favour of the recommended directors though....perhaps he feels left out if BB and GO get their "donations" back.....just a thought

[tisdeano]

everyone is assuming though that Jackson will vote in favour of the recommended directors though....perhaps he feels left out if BB and GO get their "donations" back.....just a thought

 

What if the sell 49% of un-issued shares before the vote ?

[IDF]

What if the sell 49% of un-issued shares before the vote ?

 

Id be happy with that...wouldnt that be equivalent to £1.2m fresh money into the clubs accounts??

[tisdeano]

Id be happy with that...wouldnt that be equivalent to £1.2m fresh money into the clubs accounts??

 

I wouldnt until I knew who was buying the shares, what their intentions were, if they were in any way "connected" if they thought Burslem was missing a "Tesco Superstore" etc etc etc

[Jacko51]

Not true in the slightest and you know it.

 

They even announced they had formed the 'Port Vale Consortium' in order to buy there shares. You can't get much more 'connected' than that.

 

Calling themselves the Port Vale consortium does not make them connected parties under the terms of the Articles. There was no reason to reject them.

[Birches Head Fred]

Now I know I'm getting on in years, and the old grey matter wasn't upto much in my Halcyon days, but I still don't see what the new investors gain from this deal?

After all, to become Directors then they take on responsibility for the current debts and are guarantors for loans etc, which surely add upto to quite an amount?

So exactly what do they hope to benefit from?

 

Yes, this is the same question we could pose to any 'Investor', but local guys with local connections I can understand, Multimillionaires with cash to throw away I can understand, groups of dedicated fans with enough cash to save us from the brink I can understand.

But Americans with a supposed interest in Plastic Pitches.It just doesn't stack up.......or is it just me?

[FolkyVale]

...It just doesn't stack up.......or is it just me?

 

It's just you.

 

And me.

 

And...

[Birdy]

To use their own words it's a cartel and puts to bed any notion of a fan owned club, that died years ago anyway.

 

There is a lot of people with their fingers in the fees and add ons here and the club will be sold down the river to unscrupulous folk who can pee off back to the US when they've had their moneys worth. At least if MC did screw up, it's in his back yard.