Fox in a Box Posted 31 October 2006 Share Posted 31 October 2006 If, a big if, we are taken over by a 'business interest' what would happen to the shares that the foxes trust own. Foxes fans over time have dipped in to save the club and the value is there in the shares. What would the trust be aiming to do with the money gained from such a take over. Link to comment Share on other sites More sharing options...
Janx Posted 31 October 2006 Share Posted 31 October 2006 They want a place on the board.... grrrrrrreatt!! Link to comment Share on other sites More sharing options...
davieG Posted 31 October 2006 Share Posted 31 October 2006 If, a big if, we are taken over by a 'business interest' what would happen to the shares that the foxes trust own.Foxes fans over time have dipped in to save the club and the value is there in the shares. What would the trust be aiming to do with the money gained from such a take over. if the Trust was going to be wrapped up which they're are not the funds would be used as per rule 106 for all trusts: 106. If on the winding up or dissolution of the Society there remains, after the satisfaction of all its debts and liabilities any property whatsoever the same is to be transferred to: a. a sporting charity or sporting charities operating in the Area; and/or b. one or more societies established for the benefit of the community operating in the Area; and/or c. one or more societies established for the benefit of the community in each case as determined by the members at a meeting called to decide the issue. Nothing belonging to the Society shall be transferred to any other society unless that society has in its rules a rule substantially in the terms of this Rule. Assuming that they will still continue I imagine the money will be used in a similar way to how they currently use any procedes such as sponsoring an academy/youth player ( could they set up a trust fund to support a different academy player each year?) or to purchase some equipment for the academy or to reduce membership fees in order to increase their representation. Well something like that. Link to comment Share on other sites More sharing options...
The Don Posted 31 October 2006 Share Posted 31 October 2006 Is there any reason to believe that the ft and the rest of the shareholders will be bought out?? Is it not feasable perhaps that as Ronald Mcdonald did, MM will pay 6m to the club - say knock a bit of money off teachers loan, he;ll then be majority shareholder and we're not taking any money out of the club?? Link to comment Share on other sites More sharing options...
davieG Posted 31 October 2006 Share Posted 31 October 2006 Is there any reason to believe that the ft and the rest of the shareholders will be bought out??Is it not feasable perhaps that as Ronald Mcdonald did, MM will pay 6m to the club - say knock a bit of money off teachers loan, he;ll then be majority shareholder and we're not taking any money out of the club?? Well someone would need to sell for him to be a majority shareholder, I believe the board doen't possess this 51%. I would also imagine that he would want full control and full access to any profits (to recoup his intital investment) the club might make if we were promoted and performed reasonably well. If the £25m has any truth in it then that would surely mean he wants the whole shooting match for that sum?. Link to comment Share on other sites More sharing options...
The Don Posted 31 October 2006 Share Posted 31 October 2006 Well someone would need to sell for him to be a majority shareholder, I believe the board doen't possess this 51%. I would also imagine that he would want full control and full access to any profits (to recoup his intital investment) the club might make if we were promoted and performed reasonably well. If the £25m has any truth in it then that would surely mean he wants the whole shooting match for that sum?. When RM bought his chairmanship, did he buy someone's shares or did they just issue more?? Cos I'm sure they could just let him buy into the club with a controlling interest. True, I would think that he would want it all, but the board / shareholders may not be willing to let the club go completely out of their control. Which is prudent, but may cause problems with MM. Link to comment Share on other sites More sharing options...
Surreal Madrid Posted 31 October 2006 Share Posted 31 October 2006 When RM bought his chairmanship, did he buy someone's shares or did they just issue more?? He paid for new shares. Link to comment Share on other sites More sharing options...
Jon the Hat Posted 31 October 2006 Share Posted 31 October 2006 Well someone would need to sell for him to be a majority shareholder, I believe the board doen't possess this 51%. Say there are 100 shares in the club, and M wants a controlling interest, the club can issue him with 102 shares in order for him to have over 50% of the total shareholding. This might be the case where the existing shareholders want a piece of the action, or are happy for their shareholding to remain for the good of the club. Link to comment Share on other sites More sharing options...
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