free shares

[davo80]

A bit like perrys shares also

[MarkB2]

My word, it just gets better and better....

[VantaaVale]

I don't know one way or the other if Miller paid for his shares or not.

 

What I do know is what is on the official site:

 

http://www.port-vale.co.uk/page/NewsDetail/0,,10381~2491599,00.html

 

Peter Miller has joined the Board of Directors at Port Vale Football Club after shareholders voted in favour of his candidacy.

 

Mr Miller, who recently purchased £250,000 of new club shares

 

There will be uproar if this information is proven to be inaccurate.

 

What is also on my mind is Perry Deakin's sudden interest in becoming a director. Why didn't he do this when we were non-quorate after the EGM, leaving Micky Adams to take some flack for stepping up?

[melv]

What is also on my mind is Perry Deakin's sudden interest in becoming a director. Why didn't he do this when we were non-quorate after the EGM, leaving Micky Adams to take some flack for stepping up?

 

Did he have the money to buy shares at that time?

[Caroline Oakes]

Did he have the money to buy shares at that time?

 

Did he have the money to" buy" the shares when he supposedly did?

[VantaaVale]

Did he have the money to buy shares at that time?

 

Well... I don't know.

 

But he could have been sponsored in the way Adams was, while he was making his mind up whether to invest. I just find the whole timing of this a bit odd, that's all.

[Guppy 4 England]

They could have remunerated him in shares, i.e its a bonus on top of his salary.....

[Jacko51]

I'm afraid I have never believed that the two new directors have bought the shares with their own money. It makes no sense to suggest it.

[Howjy04]

I'm afraid I have never believed that the two new directors have bought the shares with their own money. It makes no sense to suggest it.

 

Reading about the 'nil paid shares ' scenario Jean ,no money need to be paid for shares ,indefinitely.If I'm wrong can someone correct me.If I'm right then no money has gone into the business but people have received shares.

[fairportnick]

I bet the bank account is looking rosy. Wheres the income going to come from for the next few months. They have to cover salaries £200k pm plus council loan. If the bank balance mentioned on here a while is correct the ST cash has all gone.

 

Perhaps someone could explain? We need 10,000 to 15,000 pay on the day fans per month just to cover the above.

[upthevale]

its not possilbe for that to have happened legally , so this will be more total twaddle doing the rounds

 

It is possible, Directors could issue shares to whom they like

 

I have been involved in doing exactly that at business's I have worked for... It is normal practice if needed

[upthevale]

Let me give you an example....(this may or may not be correct,only an example of how it could of been done)

 

If Peter Miller introduced BS to Port Vale he may well of agreed an introduction fee of £250,000 payable on conclusion of the deal.

 

However, as the club can't pay it....they propsoe to make the payment in equity (this is quite normal)...

 

Perry Deakin, well maybe his arrangement may have been something similar. A bonus of £150,000 payable in shares.

 

All the above is easy to do.....only approval by the board needed.

[tisdeano]

shares in lieu of commission..................

 

30% is a high number ;)

[doggone]

shares in lieu of commission..................

 

30% is a high number ;)

 

Am I reading this right 30% commission, presumably on income generated (can't be on profits, there arn't any).

 

If this is true, how is the club able to pay his salary and his team of 7 / 8 out of the other 70%

 

Could explain how he could afford £100k shares when he hadn't any money at the BG meeting.

 

I hope that the correct taxation procedures have been followed - someone should take look at this.

[tisdeano]

Am I reading this right 30% commission, presumably on income generated (can't be on profits, there arn't any).

 

If this is true, how is the club able to pay his salary and his team of 7 / 8 out of the other 70%

 

Could explain how he could afford £100k shares when he hadn't any money at the BG meeting.

 

I hope that the correct taxation procedures have been followed - someone should take look at this.

 

You can read it how ever

 

Im just throwing numbers around as examples.....hopefully.......maybe......