Smurfwaite / Nuneaton

[Hagrid]

Does someone have to own it at all times? What I understood was that the main shareholder walked and that’s the main problem in that people interested don’t have anyone to talk to? Hence Smurf was the facilitator and the club itself was being run by the coaching staff.

 

Thorn now owns less than 25% of the shares of Borough Leisure Limited.

 

That 75% has to go somewhere. They can't just disappear. Thorn has sold/given them to some one.

 

Norm unequivocally stated "Lee Thorn was and is the 100% beneficial shareholder of Borough Leisure Limited".

 

The latest Companies House report confirms that Norm is lying, or horrendously mistaken. Either way, he's wrong.

 

Borough Leisure Limited are overdue on their confirmation statement, which would confirm who now owns the shares (unless, as Santa correctly pointed out, there was 5+ minority shareholders, less than 25% each). For some reason, they are late with the submission.

 

Someone has Thorn's shares. The issue is ascertaining who.

[valefan16]

What I mean is if Thorn walked away does he have to hand them over or can he leave them unallocated? Say under V2001 Deakin walked but didn’t give them or sell them for instance?

 

Smurf states last week that Thorne resigned through companies house in his latest plea to the fans.

[Hagrid]

What I mean is if Thorn walked away does he have to hand them over or can he leave them unallocated? Say under V2001 Deakin walked but didn’t give them or sell them for instance?

 

I don't think Deakin's shares were legit as he never paid for them.

 

From my limited understanding Thorn can't just wash his hands of his shares. If he now owns less than 25%, the 75% is owned by someone else. I'm sure someone with more business/legal knowledge can clarify.

 

As far as I'm aware, you can't just abandon or leave shares. They're either yours or someone else has them.

[CambridgeDon]

Since the PSC register became law a couple of years ago, I believe that fines and even custodial sentences can be brought against company owners and officers who do not keep their information up to date.

 

Correct. The Non-Statutory Guidance says:

 

UK companies... will be required to identify and record the people who own or control their company.

 

An officer of the company is required to:

 

(i) Identify the people with significant control (PSCs) over the company and confirm their information(see paragraph 9);

 

(ii)Record the details of the PSC on the company’s own PSC register within 14 days;

 

(iii) Provide this information to Companies House within a further 14 days;

 

(iv) Update the information on the company’s own PSC register when it changes within 14 days, and update the information at

Companies House within a further 14 days; and

 

(v) Confirm to Companies House that information on the public register is accurate, where it has not been updated in the previous 12 months.

 

So, if this hasn't been done (and I've no idea whether it has or not), it won't just be the EFL who will be taking an interest.

 

Then the Guidance goes on to say what the sanctions will be for breach of these regulations:

 

Failure to provide accurate information on the PSC register and failure to comply with notices requiring someone to provide information are criminal offences, and may result in a fine and or a prison sentence of up to two years.

 

Serious stuff then, very serious.

[Santa]

Maybe this is a very simplified way of looking at things, but it worries me that:

 

a. The ownership of Nuneaton is a mystery, in fact I'd go as far as to say that the person who owns the club appears to be obfuscating the fact that they own it.

 

b. One possible motive for somebody hiding the fact that they've bought a football club is that they already own another one.

 

I think we all need to start crossing fingers, toes, everything and hope that when Smurthwaite bought this club's ground, he crossed all the t's and dotted the i's properly.

[Hagrid]

Maybe this is a very simplified way of looking at things, but it worries me that:

 

a. The ownership of Nuneaton is a mystery, in fact I'd go as far as to say that the person who owns the club appears to be obfuscating the fact that they own it.

 

b. One possible motive for somebody hiding the fact that they've bought a football club is that they already own another one.

 

I think we all need to start crossing fingers, toes, everything and hope that when Smurthwaite bought this club's ground, he crossed all the t's and dotted the i's properly.

 

I'm sure people will absolve him, as he saved the club and has apologised for his mistakes.

[Inbothcamps]

https://thesetpieces.com/features/nuneaton-borough-the-non-league-club-with-no-chairman-no-owner-and-no-training-ground/

 

Manager said -

The contract I was offered [by Thorn] was two years with a three-month notice period,” Eaden says. “But when I sat down with Norman [smurthwaite] in September, he said that things needed to improve and that if we got to the end of the month without any improvement, he’d expect me to walk away.

 

“Obviously I’m trying to protect myself, so I said I’d got a three-month notice period that he’d agreed to, so he said that, in effect, I was working my notice from today, which I’m six weeks into.

 

“It’s a nonsense of a situation really. I did say to Norman that he’d have to hope I walked away because he can’t sack me. He said he could, but I told him no because he’s not the chairman or owner of the football club and there’s no board of directors. In effect, I’m unsackable.”

 

NS Said ----

“On reflection, I should never have got involved. I should have let the club go bust and let Nuneaton deal with the consequences – that’s my position.

 

“The fact is, I read all the conspiracy stories going about and instead of applauding a man who put his hand in his pocket to do something to save the club – and that’s what the people of Nuneaton should be doing to save it – a man gets castigated because he tries to do something. Now all of a sudden, I’ve got a hidden agenda.”

[Fosse69]

Getting involved in 2 football clubs is full of potholes and traps, just because you only own the ground does not appear to be straight forward. What is the function and limits of a facilitator? Obviously discussions with tenants are expected and maybe football admin advice can be given. Is not the cut-off date for Nuneaton to present their documentation the 1st of November?

[Hagrid]

https://thesetpieces.com/features/nuneaton-borough-the-non-league-club-with-no-chairman-no-owner-and-no-training-ground/

 

Manager said -

The contract I was offered [by Thorn] was two years with a three-month notice period,” Eaden says. “But when I sat down with Norman [smurthwaite] in September, he said that things needed to improve and that if we got to the end of the month without any improvement, he’d expect me to walk away.

 

“Obviously I’m trying to protect myself, so I said I’d got a three-month notice period that he’d agreed to, so he said that, in effect, I was working my notice from today, which I’m six weeks into.

 

“It’s a nonsense of a situation really. I did say to Norman that he’d have to hope I walked away because he can’t sack me. He said he could, but I told him no because he’s not the chairman or owner of the football club and there’s no board of directors. In effect, I’m unsackable.”

 

NS Said ----

“On reflection, I should never have got involved. I should have let the club go bust and let Nuneaton deal with the consequences – that’s my position.

 

“The fact is, I read all the conspiracy stories going about and instead of applauding a man who put his hand in his pocket to do something to save the club – and that’s what the people of Nuneaton should be doing to save it – a man gets castigated because he tries to do something. Now all of a sudden, I’ve got a hidden agenda.”

 

Can anyone defend this bloke any more?

[Grumpy Old Man]

https://thesetpieces.com/features/nuneaton-borough-the-non-league-club-with-no-chairman-no-owner-and-no-training-ground/

 

Manager said -

The contract I was offered [by Thorn] was two years with a three-month notice period,” Eaden says. “But when I sat down with Norman [smurthwaite] in September, he said that things needed to improve and that if we got to the end of the month without any improvement, he’d expect me to walk away.

 

“Obviously I’m trying to protect myself, so I said I’d got a three-month notice period that he’d agreed to, so he said that, in effect, I was working my notice from today, which I’m six weeks into.

 

“It’s a nonsense of a situation really. I did say to Norman that he’d have to hope I walked away because he can’t sack me. He said he could, but I told him no because he’s not the chairman or owner of the football club and there’s no board of directors. In effect, I’m unsackable.”

 

NS Said ----

“On reflection, I should never have got involved. I should have let the club go bust and let Nuneaton deal with the consequences – that’s my position.

 

“The fact is, I read all the conspiracy stories going about and instead of applauding a man who put his hand in his pocket to do something to save the club – and that’s what the people of Nuneaton should be doing to save it – a man gets castigated because he tries to do something. Now all of a sudden, I’ve got a hidden agenda.”

 

And we have sent two players on loan to learn their trade under these circumstances. Unbelievable. Certainly this is not to the benefit of the two Vale players. I wonder who is benefiting from this deal?.......hmm

[Jacko51]

“ instead of applauding a man who put his hand in his pocket to do something to save the club –”

 

That’s two clubs he’s saved. Hero.

[Fosse69]

Players still performing, 2-2 draw at Stockport, Calverley and Angus played, Andoh on the bench.

[elav trop 1876]

I'm sure people will absolve him, as he saved the club and has apologised for his mistakes.

 

 

 

 

im sure he will always have his own vote,, interesting looking at their forum he seems to have one fan Named gustav,,just wonder as this fan is new from aug this year if its norman or cough cough the old penny black or someone associated with him - just wonder

 

https://forums.footballwebpages.co.uk/nuneaton/thread/21950

[Fosse69]

“ instead of applauding a man who put his hand in his pocket to do something to save the club –”

 

That’s two clubs he’s saved. Hero.

Some people go unsung!

[PV1973]

Maybe this is a very simplified way of looking at things, but it worries me that:

 

a. The ownership of Nuneaton is a mystery, in fact I'd go as far as to say that the person who owns the club appears to be obfuscating the fact that they own it.

 

b. One possible motive for somebody hiding the fact that they've bought a football club is that they already own another one.

 

I think we all need to start crossing fingers, toes, everything and hope that when Smurthwaite bought this club's ground, he crossed all the t's and dotted the i's properly.

Totally agree, its all seems very dodgy. Smoke and mirrors.

 

If the worst comes to the worst for Nuneaton and they have to move or fold then buying the ground is a very shrewd business move.