Whisper it folks but.....

[Yorkshire Vixen]

I'm so bored with all of this now
Just get it settled one way or another

yeah i half wish it never started :icon_roll

 

[MHS]

a Small rumor going around at the min MM is on his way back to the UK and then on to Leicester :icon_wink

.......................

 

[Naughty Fox]

a Small rumor going around at the min MM is on his way back to the UK and then on to Leicester :icon_wink

Its not that small as he is going to be at the game tomorrow?

 

[step]

If MM wants to buy the club outright he needs to have a minimum of 90% of the shares willing to sell. If he only has the supporting vote from 89.99999% of the shares he can not buy the club outright.

The three directors that resigned own about 10% of the shares. so do they own more than 10% (ie 10.000000001%) or slightly less than 10%

 

[homer]

If MM wants to buy the club outright he needs to have a minimum of 90% of the shares willing to sell. If he only has the supporting vote from 89.99999% of the shares he can not buy the club outright.

The three directors that resigned own about 10% of the shares. so do they own more than 10% (ie 10.000000001%) or slightly less than 10%

But he doesn't - he now wants to buy just 75%

He's going for control, not outright 100% ownership

 

[Mike - True Blue Tinter]

He would control the club with 51%, i.e. he outvotes everyone on decisions, how much tto spend on players, manager etc.

Obviously if he wants to run/improve the club and get it back in the Prem he does not want to share the profits with other shareholders who are not on his side or who are not contributing significantly.

In business terms though is there something significant about a 75% holding? Are there decisions that cannot be pushed through on a simple majority?

 

[Real Sharapova]

In business terms though is there something significant about a 75% holding?

None whatsoever. However, if he gets 51% or over he cannot run the club in a truly cavalier manner - the minority shareholders would have every right to go to court if they thought MM was running the club in such a way as to be to be hugely detremental to their interests as shareholders in the club.

 

[PFKAKTF FOX]

Question for RS, or any other who can answer, I may be wrong but isn't there a percentage that once that number of shares have been purchased by one individual then the remainder can be compulsory purchased, if so what is that level

 

[Polar Bear]

I believe it's 90%.

 

[MHS]

Question for RS, or any other who can answer, I may be wrong but isn't there a percentage that once that number of shares have been purchased by one individual then the remainder can be compulsory purchased, if so what is that level

I thought it was 90%, I'm sure that's what happened with Glazer at Manchester United.

 

[Melton Fox]

Question for RS, or any other who can answer, I may be wrong but isn't there a percentage that once that number of shares have been purchased by one individual then the remainder can be compulsory purchased, if so what is that level

90%

 

[Yorkshire Vixen]

Question for RS, or any other who can answer, I may be wrong but isn't there a percentage that once that number of shares have been purchased by one individual then the remainder can be compulsory purchased, if so what is that level

90%

 

[MHS]

90%

You didn't actually know did you, you just copied what Me, Melton and Polar bear said.

 

[Yorkshire Vixen]

You didn't actually know did you, you just copied what Me, Melton and Polar bear said.

how dare you!!!!!!!!!

 

[foxpodder]

If MM gets 75% of the shares then he is able to do a rights issue - putting more of his money into the club in new shares and effectively diluting the holding of the other shareholders. As soon as the other shareholders are "diluted" down to 10% he then has outright control.

Thats what it said on Radio Leicester anyway.

Foxpodder

 

[PFKAKTF FOX]

Thanks guys

 

[fcukcov]

If MM gets 75% of the shares then he is able to do a rights issue - putting more of his money into the club in new shares and effectively diluting the holding of the other shareholders. As soon as the other shareholders are "diluted" down to 10% he then has outright control.

Thats what it said on Radio Leicester anyway.

Foxpodder

In a way I hope this is what he has got planned now he is only going for 75%, this will really **** over the shareholders that are left when there shares that they could have got a quid each for are then only worth say 30p.

 

[Jeff]

If MM gets 75% of the shares then he is able to do a rights issue - putting more of his money into the club in new shares and effectively diluting the holding of the other shareholders. As soon as the other shareholders are "diluted" down to 10% he then has outright control.

Presumably if there is a rights issue there would be nothing to stop other people buying the new shares - maybe the people who sell the 75% would use the money to buy back into the club!
Or would MM be allowed to buy them all himself without making them available to the public?


Why not have a rights issue now - with all the existing shareholders keeping their shares, allowing MM to buy enough to get to 51%?
The extra money from these shares could then go straight into building the team, rather than paying off existing shareholders.

 

[Polar Bear]

In a way I hope this is what he has got planned now he is only going for 75%, this will really **** over the shareholders that are left when there shares that they could have got a quid each for are then only worth say 30p.

I see your avatar is affecting your thinking... no flies on Quimby!

 

[Jeff]

In a way I hope this is what he has got planned now he is only going for 75%, this will really **** over the shareholders that are left when there shares that they could have got a quid each for are then only worth say 30p.

What makes you think the shareholders could have got £1 for their shares?

I know MM initially said shareholders would get all their money back, but the latest indication is that the official bid is nowhere near that much.