Saviour Mo?

[PVTony]

If the present directors gave their shares to Mo they would benefit by not losing their houses and other possessions.

 

If Mo made a loan to the club to pay off all of the debts and then scrapped the 24.9% ruling he could buy shares to make up a total of 51%.

 

The money from his share purchase would fund the club.

 

Mo could then sue Deakin and Miller for the £250,000 shares that they never paid for. And perhaps Blue Sky for £150,000.

 

I have had my thinking cap on, but my idea's may be unacceptable.

 

Also, I know that Mo is watching the situation closely and does.n't need my advice. He is an astute business man and if a deal is at all possible he will save the club.

[Heatwave]

The board can't make any decision at all as they are inquorate.

 

Any decision to get rid of the 24.9% rule would need a shareholder vote, and given the speed at which things seem to be happening there won't be one.

[vale in the blood]

as i see it ..on a business point of view,surely the best thing to do would be to wait for admin to come,and then put in a bid to the administrator.

So mo..or whoever really....would have a near enough clean slate to start with.

And would be able to sort out debts alot easier,as would get the club cheaper,and debts reduced.

 

I just dont see any successful business man walking into to this mess and paying all there debts off..amongst other problms he would face.

[Howjy04]

They can sell shares to Mo I think.Wasn't that a resolution passed at the June EGM?Does there need to be a quorum to put in practice what has already been agreed by the shareholders.I may have my resolutions mixed up but I think it was agreed.