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city-faithful

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Or havent seen, perhaps this is a positive rumbling in the shareholder camp.......

Cautious backing for Mandaric's takeover

By Ian Griffin

Shareholders today said they were likely to back Milan Mandaric's £25million bid to buy Leicester City.

Investors said they would be willing to sell their stake to the multi-millionaire businessman if it was for the good of the club.


City's board, which met yesterday to discuss Mandaric's offer, are due to meet the Serbian-American to talk over the bid.

The 38 shareholders not on the board have not yet been given details of the bid, but are due to be briefed shortly.

Peter Hockenhull, of Great Glen, who owns 125,000 shares, said: "I think Mandaric can only be positive for the club.

"Whether he's here for five years or 10 years, he will leave it in a much more positive position. He certainly left Portsmouth in a stronger position.

"As far as I'm concerned, I will go with whatever's right for the club and the supporters. If that means me relinquishing my shares, I would do that."

Trevor Bennett, of Newtown Linford, the club's fourth-biggest shareholder with 350,000 shares, would not be drawn on Mandaric's bid, but said: "It's likely I'd go with the board's recommendation. But I may change my mind if I thought it was not in the interests of the club."

Peter Freer, of Rothley, who owns 50,000 shares, said: "You always have to be careful with these sorts of bids.

"We don't want someone to be here today and gone tomorrow. But I'm sure that most supporters and shareholders, when they have received the details, will probably say the bid is favourable."

Walter McRobie, of Cropston, who also owns 50,000 shares, said: "At this stage, I would be for it. But if there's the likelihood of a better bid with less strings attached than there's likely to be with Mandaric, that too may be worth looking at.

"I'd be happy to sell my shares at the figure I paid for them - £50,000."

Alison Nettleton, of Oadby, owns 25,000 shares and her father William is a director of the club's joint largest shareholder, Wigston property business Hammond Grange.

"I don't know much about him (Mandaric), but I just want what's best for Leicester City," she said. "I want them to do well and get into the Premiership."

There are 48 shareholders. The club has previously said there are 47 shareholders, but had not counted the one share owned by New York-based Teachers Insurance and Annuity Association, with whom City have a £15.9m loan for the Walkers Stadium. Teachers own only one share to give them access to information and documents restricted to shareholders.
 
Not sure it's that positive. Especially with the comments the FT has been making.
 
The article says basically that the shareholders (who do not yet know the deal) would in principal be for a MM takeover if they got all their money back (which it's rumoured they won't) and if the board reccomends it (which again, it's rumoured they won't). I mentioned the FT as they said on another forum that some shareholders were 'livid' with MM's media campaign, which to me doesn't sound positive at all.
 
but the FT wont like it as MM wants all shares so that them off the board again :icon_wink

But they are not on the board....

The comments taken together show the sort of cautious optimism I think we would all welcome at this stage. Though of course, as might be expected, they do not include any of the largest shareholders.
 
The article says basically that the shareholders (who do not yet know the deal) would in principal be for a MM takeover if they got all their money back (which it's rumoured they won't) and if the board reccomends it (which again, it's rumoured they won't). I mentioned the FT as they said on another forum that some shareholders were 'livid' with MM's media campaign, which to me doesn't sound positive at all.


as a faimly memeber of our is a shareholder of lcfc they have said the board reconmands all shareholders to accept the offer from MM as its in the best intrest of the club to do this now and push for them prem this season from the jan window ,the team we have got is good enough to do this with 2-3 key players being brought in in jan if everything gose through
RK job is and isnt on the line as he proven he can macth one of the best manger this country has (MON) and with a make shift team for that game with 8 first team players out we held a them for 119 min and even played better football than them ,all RK has to do now is get in the top half of the table before the end of xmas then MM money will do the rest with the right players brought in and these player dont have to a have a 3mil price tag as we all know look at muzzy and welsh , we all know where we need them once this has been done leicester city will be back where we belong
 
I think you are right Newts, this is going to happen. If we can be within shot of the play offs and auto promotion by Jan he doesn't need to tinker too much, just bring in bit of quality to complement the team
 
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Not questioning your info newton, just find it surprising that the board would reccomend MM to the shareholders before meeting with him, and before hearing from the other interested parties.
 
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Not questioning your info newton, just find it surprising that the board would reccomend MM to the shareholders before meeting with him, and before hearing from the other interested parties.


there was a board meeting while the stoke game was being played(tuesday night) and thats when MM put his bid forward the other people that have been mentioned have not put a bid in just said they are interested in investing/buying the club but no mention of money from them or any bid coming in from them :icon_wink

the club then told everyone on weds morning
 
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Ok. I must be confused about the process then, I thought the board only reccomended someone to the shareholders when they were sure about their intentions etc.
 
as a faimly memeber of our is a shareholder of lcfc they have said the board reconmands all shareholders to accept the offer from MM as its in the best intrest of the club to do this now and push for them prem this season from the jan window ,the team we have got is good enough to do this with 2-3 key players being brought in in jan if everything gose through
RK job is and isnt on the line as he proven he can macth one of the best manger this country has (MON) and with a make shift team for that game with 8 first team players out we held a them for 119 min and even played better football than them ,all RK has to do now is get in the top half of the table before the end of xmas then MM money will do the rest with the right players brought in and these player dont have to a have a 3mil price tag as we all know look at muzzy and welsh , we all know where we need them once this has been done leicester city will be back where we belong


Now £3m on Welsh from what I have seen would be total lunacy!
 
Another load of meaningless tosh imo. 5 shareholders saying that they would sell if it's in the best interests of thre club without defining what these best interests are is just more speculation. I expect the shareholders to follow the advice of the board whatever that may be. As the board have yet to officially meet MM I think we are still some way off a resolution to this.

As for thinking MM's, or anybody else's, money is going to catapault this team in to the Prem then you are in cloud cuckoo land. This is a young team of average ability. Money can improve this but it will take 1/2 seasons before we have the sort of team capable of competing for auto promotion, play offs can be a bit more of a lottery though. Whoever comes in does not look likely to splash the cash in the way that people like Gibson, Hayward etc have done in the past. MM took 5 seasons to get Pompey promoted and that was more to do with Redknapp.
 
Best interests of the club as long as they get their money back.:icon_roll.

So what i said about the shareholders loaning the club money was true. The club is only worth what someone is prepared to pay for it. It isn't necessarily worth the 6million pounds worth of shares. Just because the club kept issuing shares at £1 each it doesnt increase the value of the club.

All assumptions of course.
 
as a faimly memeber of our is a shareholder of lcfc they have said the board reconmands all shareholders to accept the offer from MM as its in the best intrest of the club to do this now and push for them prem this season from the jan window ,.....

That's rubbish Newton, the board have made no such recommendation, all they have done is acknowledged the bid so far.
 
Or havent seen, perhaps this is a positive rumbling in the shareholder camp.......

Cautious backing for Mandaric's takeover

By Ian Griffin

Shareholders today said they were likely to back Milan Mandaric's £25million bid to buy Leicester City.

Investors said they would be willing to sell their stake to the multi-millionaire businessman if it was for the good of the club.


City's board, which met yesterday to discuss Mandaric's offer, are due to meet the Serbian-American to talk over the bid.

The 38 shareholders not on the board have not yet been given details of the bid, but are due to be briefed shortly.

Peter Hockenhull, of Great Glen, who owns 125,000 shares, said: "I think Mandaric can only be positive for the club.

"Whether he's here for five years or 10 years, he will leave it in a much more positive position. He certainly left Portsmouth in a stronger position.

"As far as I'm concerned, I will go with whatever's right for the club and the supporters. If that means me relinquishing my shares, I would do that."

Trevor Bennett, of Newtown Linford, the club's fourth-biggest shareholder with 350,000 shares, would not be drawn on Mandaric's bid, but said: "It's likely I'd go with the board's recommendation. But I may change my mind if I thought it was not in the interests of the club."

Peter Freer, of Rothley, who owns 50,000 shares, said: "You always have to be careful with these sorts of bids.

"We don't want someone to be here today and gone tomorrow. But I'm sure that most supporters and shareholders, when they have received the details, will probably say the bid is favourable."

Walter McRobie, of Cropston, who also owns 50,000 shares, said: "At this stage, I would be for it. But if there's the likelihood of a better bid with less strings attached than there's likely to be with Mandaric, that too may be worth looking at.

"I'd be happy to sell my shares at the figure I paid for them - £50,000."

Alison Nettleton, of Oadby, owns 25,000 shares and her father William is a director of the club's joint largest shareholder, Wigston property business Hammond Grange.

"I don't know much about him (Mandaric), but I just want what's best for Leicester City," she said. "I want them to do well and get into the Premiership."

There are 48 shareholders. The club has previously said there are 47 shareholders, but had not counted the one share owned by New York-based Teachers Insurance and Annuity Association, with whom City have a £15.9m loan for the Walkers Stadium. Teachers own only one share to give them access to information and documents restricted to shareholders.

As ever the Mercury listing is incorrect, we are listed twice (Foxes Trust - 151k & Leicester City Supporters Society (our legal name) £130k (which was our holding prior to putting a further £21k in)

It also listes Pure Magic Industries who sold their shares during the first year.
 
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