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Sly

Change In Ownership - Companies House

By Sly, in Leicester City Forum

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Claudio Fannieri

Claudio Fannieri

Posted
Posted
2 minutes ago, CosbehFox said:

Pulling away his Mum away  from the decision making then. 

That was my thoughts gives him autonomy to push on and make decisions and not have to go back for others approval or agreement. Seems like good news to me. 

davieG

davieG

Posted
Posted

I thought they'd announce that Top was the big honcho for LCFC and his Mum for KP.

Fox92

Fox92

Posted
Posted

Do people just refresh companies house every day to see of any changes?  The amount of threads referring to companies house is mad.

st albans fox

st albans fox

Posted
Posted (edited)
4 minutes ago, Fox92 said:

Do people just refresh companies house every day to see of any changes?  The amount of threads referring to companies house is mad.

You can be on a ‘notify email’ list if anything changes 

Edited by st albans fox
  • Like 1
Aleksz

Aleksz

Posted
Posted
53 minutes ago, kingpower said:

does this not now mean that we can secure significant investment from King Power Group without it breaking the new laws around owner investment?
Basically KP can sponsor us to whatever tune they wish as Top is the owner not them 

And with the no smoke without fire stuff around BC Game this would be wise.

Benji

Benji

Posted
Posted (edited)
4 minutes ago, st albans fox said:

Do we have a lawyer on the forum who can answer how it can take five years (and be legal) to file the notification?

Companies House rarely, if ever, take enforcement action over clerical filings like this.

 

Someone may have just pointed out that the PSC test requires you to look through to the ultimate owner of the top corporate entity, which it looks like is Top.  An overseas corporate like King Power ICL can't actually be a PSC under the rules, so they should never have been on the register...

 

Pretty uneventful.

 

 

Edited by Benji
  • Like 1
Golden Fox

Golden Fox

Posted
Posted

To be honest, the timeline makes sense that following the crash in 2018, Vichai's estate was looked at and the shares reallocated in Feb 2019.

 

My feeling is that the auditors (or someone similar) have reviewed the ownership structure and told the club they hadn't filed the correct paperwork - so this is just a paper exercise to correct that. The shares will all be registered: Companies House is just a reflection of what the company position is, but is not the legal record. There are penalties for incorrect information late filings, but I don't think there is anything for ownership. In my experience, auditors all too frequently raise items that they themselves have missed for 4 or 5 years! (OK - this is just repeating what @Benji has just posted!)

 

Or it could have emerged as part of the due diligence as part of a sale...

  • Like 3
Benji

Benji

Posted
Posted
1 minute ago, Golden Fox said:

To be honest, the timeline makes sense that following the crash in 2018, Vichai's estate was looked at and the shares reallocated in Feb 2019.

 

My feeling is that the auditors (or someone similar) have reviewed the ownership structure and told the club they hadn't filed the correct paperwork - so this is just a paper exercise to correct that. The shares will all be registered: Companies House is just a reflection of what the company position is, but is not the legal record. There are penalties for incorrect information late filings, but I don't think there is anything for ownership. In my experience, auditors all too frequently raise items that they themselves have missed for 4 or 5 years! (OK - this is just repeating what @Benji has just posted!)

 

Or it could have emerged as part of the due diligence as part of a sale...

 

It's a good point re due diligence, although from experience of acting on football club sales a few times before, you'd never recommend rectification filings during the sale process as you know that eagle eyed fans and journalists are constantly monitoring Companies House filings and the club gets bombarded with questions every time a filing is made.  This thread being a case in point.

  • Like 4
Mickyblueeyes

Mickyblueeyes

Posted
Posted
40 minutes ago, st albans fox said:

Do we have a lawyer on the forum who can answer how it can take five years (and be legal) to file the notification?

Its a late filing but CH are not great at enfrorcement - we were in a worse position with the previous (foreign) entity as PSC. 

Globalfox

Globalfox

Posted
Posted

There were three filings and it is change as the previous party of significant control was a company now it is Top as an individual. It is part of a trend I previously pointed out. The articles of association were earlier changed to reflect that Top on his own can make any decision. His club, his board, now his shares so he does what he wants and does not have to consult anyone. Now what else does this bring? Nothing he already had total control this is just another step in overall clarity. Of course in the event of serious financial problems it does remove King Power and its assets from the equation. On the question of the five years that is irrelevant as this is by subtle nuance a change today. Maybe this weekend having fired Cooper he is on a bit of a power trip. My club so I am making it clear it’s my club. Anyone who ever doubted that is misguided.

st albans fox

st albans fox

Posted
Posted

I get that this kind of thing would be flagged up if someone were doing due diligence on the club.  I appreciate @Benji ‘s earlier point that doing the housekeeping exercise will likely serve to increase speculation in this regard.  But if I was buying an sig part of the club or the whole shebang then I’d not care about that and I’d want all the legal ducks in a row before doing the deal.  We’ve been accused of doing ‘dodgy stuff’ and if I bought the club and then it was highlighted that Top got the money rather than king power when the public docs had shown for five years that king power were owners - you see that I’m already mired in questions that I have no interest in answering (not responsibility for the technical misdemeanour).  
 

my point is that this has been the case since 2019.  It may just be co incidence that the legal people have just noticed the discrepancy but I’m a great fan of no smoke without a fire. 

OntarioFox

OntarioFox

Posted
Posted
4 hours ago, urban.spaceman said:

This was also published too: https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/QqV-FoxdF3BDSPF9zpGFv3bix9Us97LCUl2UHRev2pg/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAWRGBDBV3IDLS4LJZ%2F20241125%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20241125T133744Z&X-Amz-Expires=60&X-Amz-Security-Token=IQoJb3JpZ2luX2VjEG4aCWV1LXdlc3QtMiJHMEUCIQCtJJS9y2rfalZjNWEZdLTbVfKs%2Fmd6Au1iAGdMs5J%2FSwIgIHi7yY79iVyknZRcJAemWrST7vCZgxrMr8GyHvfDYysquwUIFxAFGgw0NDkyMjkwMzI4MjIiDMKCeVaeNEXt5nPCUiqYBeSe7CYm9r%2Bs5BFGOrfj0%2BUXaj2d2Ps3z8957pZinAkcAMYf3UGjLgmfkAji1xs2WtYVmd4Y3smK%2Bn2RaJsgG9GR3t3c2xLmLNoqAneFhRUGc3qbZX%2FOvDN%2Bsk1%2F6yahIPElGXTbuSqFUWcSH60RnhkvrQu8GRwq6763S9%2B3FTiz91Ux1z3FHjowB%2BhUXJeBB%2F3znQlNC2exscwsH6nqPb%2B7Rgq9F4I6CqsHRin3tad0cju12M%2FsktnRftclPfmDQvsGD4XHrJncG%2BsGo2wPHdOIXP0drIsuvHXyRxW8QUdsMNbCQnLFvHixUOVX%2B99T2OAnvf%2BN6ZgEUeGvrmxrMFb333TfC3npnzkuz6ljmUWr6M8vIFvpcg05M1fMRPFrFnhSq8S%2FVspLAybxpWha2NhAkXKLe%2BHj1PAiDoMJq7mSgVZ9usfhX1nlhWRx8t1ud2er0D5tfEU668E6BL0hgY6rBcBrd%2BhxRssPlvA8VVlf%2FyKpkOicUJqd9DalFpNxTxshag3oMFz8e%2BSmlc%2FkL0qx0ralUFp07pXA54V9hyBEwLi0tvyAIWB7WLjQzTRYUkGUQ%2BcpKiCcwJFsCu4a1HKZ0LDuSbJGA8drBbiu%2Bm1IJ15lDuNreCI8oZwd0giIuLBRnmoVLSjv1qpJ%2BEnKVhwWUqK0bpjfTHyTnPH0OLwS246DXUNIn775XWELvq8w%2FRj%2FxGC0SbZRD530%2B1CHFXNGEn26RVE%2F16N06YdVf%2FcK3WACcaa%2FKrraYgrK0N4z%2F1jOUjDzc76mBN9lCNtP4C7aR7eu8WiuVrzQlQEoerhkDKdJqs%2BzNtOEM8keHEMH8j%2FNd%2BR2dVP59YYF%2B9zjh9nuLxzLwA4r0EFlNMYtoNsCh41%2F7T9JIDgwsfiRugY6sQFgJlhyqeZLSu9ktVe%2B8RpBr5IxAdjlECpMNLpb7zGJhWs4zx6IkHGNpu1ZXFb4RWYX02m3nh24yz5SzoyS2%2Bl6Lm9pBIEWkc3Pq9amn4GDj6CIALuR4Oa0lgYdv3dEHk0cSt9tlD7tfI%2B%2BJA3byQNHznY%2FNM74d7jSHzW8NnEl4H0T87KGbrqnip4JKNSmJ5npfgaQDIkxTxcsUsswF1Tk2E4wFX9wgQzkTWQhmFbU7Z4%3D&X-Amz-SignedHeaders=host&response-content-disposition=inline%3Bfilename%3D"04593477_sh01_2024-11-25.pdf"&X-Amz-Signature=4f6f8ee208a2b4db7a69c65b10779c4e8fa1ec0467c24af0dd29a44355ddf8fd

nice try diddy

Sly

Sly

Posted
  • Author
Posted
5 hours ago, Fox92 said:

Do people just refresh companies house every day to see of any changes?  The amount of threads referring to companies house is mad.

I have them on alert, so I get emails when changes are made :whistle:

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