Take Over

[Burndens Bogs]

Have we gone yet?

I'm optimistic by nature, but fuck me it ain't looking good.

 

[Mounts Kipper]

12 minutes ago, Burndens Bogs said:

Have we gone yet?

I'm optimistic by nature, but fuck me it ain't looking good.

 

Casino reckons things happening new shares look like being listed on companies house, I’m clinging to this new info as a positive development. 

Edited July 19, 2019 by Mounts Kipper

[Matthew1234]

I wouldn't want to stop people getting excited but given the hotel administrators report said they will now begin the marketing process, I just can't see anything happening for a few weeks.

I know as much as anyone else though - back of a fag packet guess. The only thing I'm clinging to is I really don't think the EFL will let us play at Wycombe with the young lads. I think that will the spark that gets this thing sorted ASAP

[Johnnyrotten]

3 hours ago, Spider said:

By the way, it's 3 weeks until the Coventry match, that's plenty of time to sort season tickets etc..

There's a few million for FV to splash about.

Season tickets are a side issue, but as you mention it...there's no chance of season tickets being sorted in what would be a maximum of 2 weeks. We can all recall previous 'normal' years when despite paying for them in June, many were still waiting for the cards to arrive a few days before the 1st game. For whatever reason, those cards seem to take ages to produce, it's not like we can nip to the ticket office and get 1 over the counter (unless they come up with a contingency along those lines?).

[SatanGreavsie]

4 minutes ago, Johnnyrotten said:

Season tickets are a side issue, but as you mention it...there's no chance of season tickets being sorted in what would be a maximum of 2 weeks. We can all recall previous 'normal' years when despite paying for them in June, many were still waiting for the cards to arrive a few days before the 1st game. For whatever reason, those cards seem to take ages to produce, it's not like we can nip to the ticket office and get 1 over the counter (unless they come up with a contingency along those lines?).

last year's ticket had no date on them...so presumably can be renewed at a touch of a button - just you just use last year's one.

We'd never done that before - almost like someone thought a contingency like this might arise....

Edited July 19, 2019 by SatanGreavsie

[Johnnyrotten]

Good point, I did think that was odd last year. Imagine the panic in a few thousand homes when they tell us 2 days before the Coventry game we have to find a ticket we haven't seen for 3 months (and some of us will have gleefully binned)!

[Naytch]

I’m starting to really fear the worst over this whole situation. I’ve always been in the ‘it’ll get sorted in the end and we’ll be back’ camp, but now....I just can’t see us playing the first game of the season. It’s fucking heartbreaking. 

 

Maybe its just the beer talking...

[Breightmet Boy]

2 hours ago, Naytch said:

I’m starting to really fear the worst over this whole situation. I’ve always been in the ‘it’ll get sorted in the end and we’ll be back’ camp, but now....I just can’t see us playing the first game of the season. It’s fucking heartbreaking. 

 

Maybe its just the beer talking...

Stop reading this thread, your winding yourself up over something out of your hands and the presumptions of others, it’s all irrelevant until the final statement.  

[leadfrog1]

If the theory about a new investor joining the three directors is true, this could be the reason for the delay.

One might assume that the original four split the club in some way e.g. 25% split four ways. When Basran quit, maybe nobody could agree on how his 25% was divided or maybe they didn't feel they had the funds to do it as a team of three. 

Maybe the above is all bs idk and idc but the one thing that is true is that they're quickly running out of time. 

Edited July 19, 2019 by leadfrog1
Tiredness

[gazza]

What does fill me with a tiny bit of hope is that they do seem to be able to find new investors when needed which says to me that they know people in the right places whether that be keys in a bowl or gimp masks

 

[Sluffy]

6 hours ago, Matty said:

Statement of capital following an allotment of shares on 2 July 2019

• GBP 6

This document is being processed and will be available in 5 days.

 

presume that’s the last director leaving maybe, although just uploaded today 

Please don't take the following to be patronising, it's not meant to be, just my attempt to explain things the best I can so people can better understand what is going on.  This isn't aimed at you Matty btw, it's just that your post is a good place to start the explanation.

First of all you don't have to be a director to own the company, and visa versa, just because you are a director, it doesn't mean you are an owner of that company.

The people who DO own the company are those who hold the SHARES in it.

Directors are appointed by the shareholders to represent their interest and basically see that the company is being run the way they want it.

It's not unusual for major investors in a company to become directors themselves or appoint a representative of theirs to become one.

So when FV was set up, it issued two shares of ownership, one owned by Basran and the other by Brittan.

Since then James and Thomas have become Directors but until very recently not share holders - and as such not owners of FV.

Things changed though on the 2nd July, when Basran resigned as a Director (but not necessarily as an owner).

On the same day notification was given that James was now a significant shareholder owning more than 25% of the shares in the company but not more than 50% and the same also for Thomas.

So it could have meant that James and Thomas as simply taken on the existing two shares from Basran and Britton but if you look at what Matty has post you will also note the 'code' GBP 6 being shown.

This simply means there are now six, one pound (Great British) shares in the company (as Mantra had previously noted above), and as the date is also shown as the 2nd July it ties in with everything else happening on that day, and with four 'extra' shares being issued in the company, so now we need to do some simple arithmetic to work out what has happened.

If the six shares own 100% of the company and they all have the same value to each other, then one share equals 16.67% of the company.

As we are told James owns more than 25% of the company but no more than 50%, he must then own two shares to own 33.33% of the company (or three to own 50% of the company) - and so to must Thomas.

It could be that Basran and Brittan have sold their single shares but It's my assumption that Brittan will still have her share and I suspect Basran will hold his also, even if he is no longer a director as such.

I therefore don't see this as the bombshell reveal of a new investor but more like three week old 'paper work' that as just got around to being filed.

 Hope this helps explains this particular document.

Edited July 19, 2019 by Sluffy
Grammar errors

[birch-chorley]

6 hours ago, Sluffy said:

 

I therefore don't see this as the bombshell reveal of a new investor but more like three week old 'paper work' that as just got around to being filed.

 Hope this helps explains this particular document.

This is a succinct summary for anyone short of time 

[Chris Custodiet]

17 hours ago, Tombwfc said:

 

Beeno, Simple Simon, Gordon Hargreaves, David Conn, Sam Allardyce, Dean Holdsworth. It's just the same shit constantly on loop.

 

 

Thought it was interesting Gordon Taylor said yesterday something to the effect of that the takeover needed to happen or the club needed to let the remaining players leave. Could be that he's misinformed, but also could be something else keeping Oztumer, Magennis etc. at the club.

Even if you've understood nothing, its one small step that you've remembered something

Edited July 20, 2019 by Chris Custodiet

[Chris Custodiet]

9 hours ago, Sluffy said:

Please don't take the following to be patronising, it's not meant to be, just my attempt to explain things the best I can so people can better understand what is going on.  This isn't aimed at you Matty btw, it's just that your post is a good place to start the explanation.

First of all you don't have to be a director to own the company, and visa versa, just because you are a director, it doesn't mean you are an owner of that company.

The people who DO own the company are those who hold the SHARES in it.

Directors are appointed by the shareholders to represent their interest and basically see that the company is being run the way they want it.

It's not unusual for major investors in a company to become directors themselves or appoint a representative of theirs to become one.

So when FV was set up, it issued two shares of ownership, one owned by Basran and the other by Brittan.

Since then James and Thomas have become Directors but until very recently not share holders - and as such not owners of FV.

Things changed though on the 2nd July, when Basran resigned as a Director (but not necessarily as an owner).

On the same day notification was given that James was now a significant shareholder owning more than 25% of the shares in the company but not more than 50% and the same also for Thomas.

So it could have meant that James and Thomas as simply taken on the existing two shares from Basran and Britton but if you look at what Matty has post you will also note the 'code' GBP 6 being shown.

This simply means there are now six, one pound (Great British) shares in the company (as Mantra had previously noted above), and as the date is also shown as the 2nd July it ties in with everything else happening on that day, and with four 'extra' shares being issued in the company, so now we need to do some simple arithmetic to work out what has happened.

If the six shares own 100% of the company and they all have the same value to each other, then one share equals 16.67% of the company.

As we are told James owns more than 25% of the company but no more than 50%, he must then own two shares to own 33.33% of the company (or three to own 50% of the company) - and so to must Thomas.

It could be that Basran and Brittan have sold their single shares but It's my assumption that Brittan will still have her share and I suspect Basran will hold his also, even if he is no longer a director as such.

I therefore don't see this as the bombshell reveal of a new investor but more like three week old 'paper work' that as just got around to being filed.

 Hope this helps explains this particular document.

I think there's been a mix up in the paperwork, Sluffy. Although there were notices of Basran ceasing to be a director and significant shareholder on 2 July 2019 there's never been a notice of him (or Sharron Brittan) ever being a director or shareholder.

The present position, on the Companies House file, is that there are two named directors,  James and Thomas, each of them holding two shares with two more shares held by a person or persons presently unnamed. It could be Basran and Brittan; it could be A N Other.

Correction: Sorry Sluffy, I got this wrong. Should have inspected the incorporation doc or gone to Specsavers or summat!

Edited July 20, 2019 by Chris Custodiet

[gonzo]

11 hours ago, SatanGreavsie said:

last year's ticket had no date on them...so presumably can be renewed at a touch of a button - just you just use last year's one.

We'd never done that before - almost like someone thought a contingency like this might arise....

Fuck sake I left mine in a toilet in poulton somewhere 

[hughmungus]

45 minutes ago, Chris Custodiet said:

I think there's been a mix up in the paperwork, Sluffy. Although there were notices of Basran ceasing to be a director and significant shareholder on 2 July 2019 there's never been a notice of him (or Sharron Brittan) ever being a director or shareholder.

The present position, on the Companies House file, is that there are two named directors,  James and Thomas, each of them holding two shares with two more shares held by a person or persons presently unnamed. It could be Basran and Brittan; it could be A N Other.

Doesn’t it show 3 shareholders, Brittan, James and Thomas all with equal shares so 2 each ?

[Benny The Ball]

I know we are all looking for anything positive , anything at all the moment , so here's something that may signify some positive news in the pipeline  , or maybe Wycombe are just going about their business as normal ...   

Can we / dare we  read anything into it ? 

https://www.wycombewanderers.co.uk/news/2019/july/bolton-tickets-now-on-sale/

[Matty]

2 minutes ago, Benny The Ball said:

I know we are all looking for anything positive , anything at all the moment , so here's something that may signify some positive news in the pipeline  , or maybe Wycombe are just going about their business as normal ...   

Can we / dare we  read anything into it ? 

https://www.wycombewanderers.co.uk/news/2019/july/bolton-tickets-now-on-sale/

Probably not. One can hope it’s sorted in time to play however.

they can’t wait till the last minute to sell either.

Edited July 20, 2019 by Matty

[Marc505]

15 minutes ago, Matty said:

Probably not. One can hope it’s sorted in time to play however.

they can’t wait till the last minute to sell either.

I reckon they can and will wait till last minute even if it means a Thursday afternoon rush for tickets or pay on gate.

People are turning up at Wycombe game or no game, ticket or no ticket. If there's a game on, there'll be tickets available.

*Mind you, you see some folk crying that the club is dying and it's so sad, so you tell them to try and retain some hope and they just say we'd only be watching hoofball anyway rather be liquidated. Fuck me pass me the gun.

Edited July 20, 2019 by Marc505

[Zico]

If we do go bust will terrace talk merge with behind the stands?

[Burndens Bogs]

15 minutes ago, ZicoKelly said:

If we do go bust will terrace talk merge with behind the stands?

Wandererswas?

[Matthew1234]

Some great news to wake up to...

https://www.theboltonnews.co.uk/sport/17783753.magennis-oztumer-seek-pfa-help-looking-leave-wanderers/

[Chris Custodiet]

1 hour ago, hughmungus said:

Doesn’t it show 3 shareholders, Brittan, James and Thomas all with equal shares so 2 each ?

No. It shows that six shares have been issued and that James owns 2 and Thomas 2. It doesn't say who owns the other 2. If it was Brittan there should have been a notice of significant control for her but she's not mentioned in any of the filed documents.

PBP has an exising investment of c. £12m that kept the club going three years ago. It will want to protect the investment but I cannot see Tom Morris wanting to have any personal involvement.

Michael James imo is in a no win situation. If FV is to make any gain it will have to be after subsidising the club for several years. Should it succeed, MJ will be pilloried for 'profiteering', if it fails he'll be pilloried for 'mismanagement'.

The ST put that ball in play weeks ago. It wouldn't matter quite so much if he lived in West Sussex but living in Westhoughton is altogether different.

Correction: The appointment of Basran and Brittan as first directors and shareholders are shown in the incorporation doc. as pointed out by Aldo Raine. My apologies

Edited July 20, 2019 by Chris Custodiet

[enzo gambaro]

20 minutes ago, Matthew1234 said:

Some great news to wake up to...

https://www.theboltonnews.co.uk/sport/17783753.magennis-oztumer-seek-pfa-help-looking-leave-wanderers/

Fuck em all, fuck em all, the long and the short and the tall...

[Lt. Aldo Raine]

2 hours ago, Chris Custodiet said:

I think there's been a mix up in the paperwork, Sluffy. Although there were notices of Basran ceasing to be a director and significant shareholder on 2 July 2019 there's never been a notice of him (or Sharron Brittan) ever being a director or shareholder.

The present position, on the Companies House file, is that there are two named directors,  James and Thomas, each of them holding two shares with two more shares held by a person or persons presently unnamed. It could be Basran and Brittan; it could be A N Other.

Basran and Brittan are named as directors and shareholders (one each) in the Incorporation document uploaded on 11 Jan 2019.