Mo's document-up to 1.2m? and Mos Clarification

[AVIM]

Just having a look through Mo's new glossy document, available here. I think everyone, pro or anti bid, should have a read through if they havent done so.

 

http://www.mochaudry.co.uk/wp-content/themes/mo-chaudry/downloads/Documents/MoChaudryPortValePlan.pdf

 

One question. Can someone from B&G/Mo clarify what the bid means by "A Cash investment of up to 1.2m"

 

This "up to" point has gone back and forth a few times and it has me confused. I head it in mentioned in the jacksongate tapes when Jackson claims that mo's bid was for only "up to" 1.2m, only for Jackson to get shot down by the B&G protestors, who swore it was the full 1.2m cash (and even offered to call Mo there and then to ask him).

 

Now this document comes out and it appears jackson was telling something like the truth on this one (hey, maybe a first for everything).

 

So, what is "up to" 1.2m mean? Does it depend on how many existing shareholders decide to sell their shares to Mo? Ie, Will Mo just buy enough new equity to get control?

 

Genuine question.

[NellyTheValiant]

I believe that if he requires 51% of the club, and he does to have control, then it would cost him £1.2m for new shares. If he does buy up existing shareholder allocations then this reduces.

[Andyregs]

Apparently it was clarified on the phone to jackson in the car park. However, I agree it needs clarifying, as it seems to be the latest issue the board are clinging to. Take this away, and lets see what else they desperately cling to. However, as jackson knows too well himself, he cant pay less than everyone else.

[NLVMalc]

The latest return to Companies House put the share value at £1.17m, thus unless there is an unprecedented number of shares bought in the meantime then £1.2m is going to be more than enough to buy 51% in NEW SHARES.

[NellyTheValiant]

I'd just like to add a thank you to Vale fans who accepted a copy of the brochure from me without the need to abuse. I expected a little but in fairness most were courteous and polite, I hope that it proves a good read and answers most of your questions.

[Jimmy]

I'd just like to add a thank you to Vale fans who accepted a copy of the brochure from me without the need to abuse. I expected a little but in fairness most were courteous and polite, I hope that it proves a good read and answers most of your questions.

 

You will have to drop mine off Neil.....I am not going till this lot are gone.......:)

[NLVMalc]

I'd just like to add a thank you to Vale fans who accepted a copy of the brochure from me without the need to abuse. I expected a little but in fairness most were courteous and polite, I hope that it proves a good read and answers most of your questions.

 

Well said Nelly.

 

I'd also say that those who were not interested were polite and courteous too in declining a copy of the bid/business plan. It proves that we can hold opposing views, be civil to each other and get behind the team.

[AVIM]

I believe that if he requires 51% of the club, and he does to have control, then it would cost him £1.2m for new shares. If he does buy up existing shareholder allocations then this reduces.

 

But the deal is structured in such a way as it to only make sense, at least financially, for existing shareholders to sell to Mo. The convertible debt Mo proposes, with a preference over common stock to any "dividends" makes sure of this. Minority common stockholders will neither influence votes on club matters, receive any dividend streams from profit, or share in any upside should the vale reach the championship and be sold at a profit. So I would expect a good number to sell to Mo, assuming they are correctly informed.

 

If only 300k worth (25%) of existing shareholders decide to sell to Mo, this reduces the amount of fresh equity invested into the club by Mo to just 600k.

 

To put that into perspective (given yesterdays events), the new guy at chesterfield injected 4m of fresh equity.

 

Why cant Mo just go ahead and guarantee to invest 1.2m exactly, instead of leaving it so open? It seems an unnecessary loose end.

[Guest Tony Dyche]

Will have to have a closer look at this. However today is about me and the kids treating their mum, so Vale can **** off for now.

[AVIM]

Will have to have a closer look at this. However today is about me and the kids treating their mum, so Vale can **** off for now.

 

:D

[Caz or caz123]

Will have to have a closer look at this. However today is about me and the kids treating their mum, so Vale can **** off for now.

 

:D

[Birdy]

Will have to have a closer look at this. However today is about me and the kids treating their mum, so Vale can **** off for now.

 

Well said that man......[mumbled voice from the garden heading my way]"coming dear, just on the can...."

[cheshirevaliant]

Did anyone else feel a sense of deja vu reading Mo's document? I felt like I'd read it all around 8/9 years ago!

[Trentham Lakes Valiant]

LB, put this one to bed will you

[Princey]

Well said Nelly.

 

I'd also say that those who were not interested were polite and courteous too in declining a copy of the bid/business plan. It proves that we can hold opposing views, be civil to each other and get behind the team.

 

Or at least one side can it seems..