onevalefan.co.uk Present Past Specials About Forum
Jump to content
onevalefan.co.uk forum

Advert


Advert


EGM Update 3

NLVMalc

By NLVMalc
in Port Vale present

Recommended Posts

Advert

stupers Enthusiast

stupers

Posted
Posted
Will one of the proposals at an EGM include a request to allow Mo to purchase a 25% stake?

 

Surely this would get a higher "yes" vote than any other, on the grounds that Mo is not seeking a takeover, just an investment as big as RW. Even the anti-Mo lobby would be hard pressed to oppose it.

 

Once he's in, then he can out vote the rest anyway at other EGM/AGM's - without needing a 51% stake - if he has the backing of the smaller shareholders and RW abstains. He wants a 51% stake but why not do it in two easier jumps instead of risking falling on his face by trying it in one?

 

Or have I missed something?

 

No, don't think you've missed anything. That's the way i'd approcah it too. Small steps, rather than trying to take one massive step.

Link to comment
Share on other sites
Guest Aub

Guest Aub

Posted
Posted
Aub. U may have missed,that the board can stop mo buying shares. And also mo and LB both saying they wud never do that anyway. Wud u put yr own money in for them to contril and loose? Or would u want the lot,and have total control of your own money?

 

But my point is that you can by-pass the board's veto on Mo buying shares by making it a proposal at an EGM. 25% for Mo would be an effective majority with the additional votes from the small shareholders. Just change the rule to let anyone buy shares up to 25% without having to have board approval. No need for Mo's name to be mentioned and I suspect that the 70% figures in polls could get another 10% on top.

 

He (or anyone else) could then vote through rule changes to buy as much of the club as he wants.

 

Shares are for sale in PVFC. Therefore the club is still being acquired, slowly, in small steps by those who can afford to buy shares. If someone wants to come along and hoover up the remaining shares, how can any existing shareholder who has exercised their right to buy into Vale, deny the same right to someone else?

Link to comment
Share on other sites
Burslem Academicals Enthusiast

Burslem Academicals

Posted
Posted

What and give Bratt&Co hundreds of thousands of pounds to keep going when they are in financial intensive care.....and sit there with 24.9% while the V2001 with 28% make all the decisions....Mo Chaudry wasn't born yesterday.

No 82% of shareholders want them gone and 3,500 fans plus a list as long as your arm of legendary former players,local celebrities and millionaires have all backed Mo and can V2001 empty the waste paper bins,get the hoover out and the polish and duster ready for the new man to take control.

In my dream not only are V2001 voted off at the EGM but all get life bans.

Link to comment
Share on other sites
Burslem Academicals Enthusiast

Burslem Academicals

Posted
Posted
The board veto on share sales is in the articles of association so it would require a special resolution (ie 75% majority) to remove.

 

It seems to me that the V2001 Board run a closed shop and pass what they like when they like and every little fix up they have done to stay in power

and rigg the strucure can only be undone by a 75% vote such that in the twisted V2001 democratic model you need 75% to defeat their 28%.....in

a sense the Boards 28% has become 75%.....and you can't buy or transfer shares or get over 24.9% such that they have control as a minority.....the

only fault in their plan is that an EGM can be called by 10% of shareholders and it only requires 51% and they are gone.

Link to comment
Share on other sites
AVIM Newbie

AVIM

Posted
Posted

We have been able to confirm through our legal team that the club, Port Vale (Valiant 2001) Football Club Limited, have to provide us with a copy of the share register when issued with a section 116 request under the 2006 Companies Act.

 

Did NLV get a reply from the board on this yet? Within 5 days i thought?

Link to comment
Share on other sites
Guest Aub

Guest Aub

Posted
Posted
The board veto on share sales is in the articles of association so it would require a special resolution (ie 75% majority) to remove.

 

Using my cack handed rough figures of 32% board 23% RW and 45% small shareholders the following scenarios apply.

 

1. If Mo was allowed to buy shares equivalent to 33% now, that would increase the total to 133%. His 33/133 = 25%. If RW abstains the board still have 29% of the votes.

 

2. Using current figures, if RW abstains, the board have 32/77=41.5% of the available vote. They need 21% of the small shareholder vote to get to 51%. So you need a 79% share of the small shareholder vote to get them off individually.

 

So the whole strategy is to ramp up the pro-Mo sentiment so that the vote on the night is more likely to prise off the board members one by one. A waste of time going for the 25% rule - it aint going to happen.

Link to comment
Share on other sites
NLVMalc Newbie

NLVMalc

Posted
  • Author
Posted
Did NLV get a reply from the board on this yet? Within 5 days i thought?

 

it'll be the well used "we not received anything" excuse:yes::yes:

 

I am very please to say that the club responded to the section 116 request and NLV did receive a full copy of the shares register.

 

The envelopes are now prepared and will be posted tomorrow!

Link to comment
Share on other sites
Fosse69 Veteran

Fosse69

Posted
Posted
I am very please to say that the club responded to the section 116 request and NLV did receive a full copy of the shares register.

 

The envelopes are now prepared and will be posted tomorrow!

 

Great news, I wiil reply same day.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

Go to topic listing

  • Reporting Posts and other information

    Rules - This forum is moderated but the admin team don't read everything. Don't assume we'll spot rule breaking and alert us by reporting content. Logged in users can hover over the post and click the orange button. Guests can contact us here. If you don't get on with another user you can "ignore" them. Click this link, type in their username and click save. Please check with the admin team if you wish to sell/auction any items. We're happy to support good causes but check first.

    Use - This forum may not be suitable for all as it may contain words or phrases not considered appropriate for some. You are personally responsible and potentially liable for the contents of your posting and could face legal action should it contain content of a defamatory or other illegal nature. Every message posted leaves a traceable IP number. Please do not reveal any personal information about yourself or anyone else (for example: phone number, address or email address). This forum is not in any way affiliated with Port Vale FC. OVF reserve the right to edit, delete, move or close any thread for any reason. If you spot an offensive post please report it to the admin team (instructions are above).

    Adverts - This site occasionally a) has adverts and sponsored features about gambling b) accepts sponsored posts from third parties. If you require help and advice on gambling read these links: Information on protecting young people | Addiction help from gambleaware.co.uk

  • Friends of OVF

Advert



×
×
  • Create New...