Confirmed KLD only owns 41%

[West_Winger]

You’re a prat.

Trying desperately hard not to criticise the owners because he knows he’s an obsequious tit.

 

[10 Gary Rowells]

The assumption everyone is making is that JS, SD, and CM are still collaborating. Madrox is no longer involved at all (the registered office is now in Oxfordshire); they hold shares in Mercator as individuals. My own feeling is that Donald is the isolated one, with JS and CM now backing KLD.

That may well be true but, correct me if I am wrong as I haven't followed this closely enough, to date everyone thought SD had a substantially lower share % and the statement on the club website saying that KLD was the 'ultimate controlling party' is both misleading but also designed to be misleading. KLD is in a massive hole here and he needs to have some clear answers and have a clear strategy. Donald needs to go. I could accept Donald keeping the same holding as Methven but that fact that he is the second biggest share holder and KLD is not actually the 'ultimate controlling party' is a massive worry.

 

[Sweeper]

That would make a lot of sense.

Not really - why would Sartori pump money into a club and waive voting rights over his shares? What would he gain from that?

 

[KittenMittens]

but what if KLD wants to add 4.1 million pounds to the clubs budget ? They skint boys from Oxford & Uruguay would have to find 5.9million or agree their shareholding could be diluted.

This is the salient point. That they have to be aligned in both interest and capacity to act.

It's having a wealthy owner in name only. We're still hamstrung by the fact that the majority of owners are the same as those who have still not paid back the money they owed us after dispensing of £20.5m in club funds.

 

[Grumpy Old Man]

Is this the day you finally start listening to me where these two are concerned?

Don't push me.

 

[Dilligaf60]

I don't actually know what as fans we can do. Part of me would like every fan not bothering with a season ticket for next year but that then hurts the club we all love.
I fear we still haven't hit rock bottom yet. There could well be worse to come.
I have manged for a lot of years now without any sort of hate in my life. I hate SD with a passion, the guy is dangerous.

He’s a club killer mate. Him and his chums.

 

[Deleted member 30053]

Well tickle me pink. I seem to remember suggesting this previously and being shot down in flames by the board’s resident accountancy expert.

Simply wasn’t possible etc etc

We’re being taken for a ride here lads and lasses.

Yep. When I questioned the meaning of “governance majority” on the day this term was first used this was hand waved away as if it was blatantly obvious what it meant and it was a typical description of corporate ownership. Unfortunately he’s seen as the oracle on matters of this nature and the opinions of other people with financial knowledge are not as well respected as a result.

 

[Bg86]

Spent £130 million getting the mags promoted from the championship, wrote off the debt that Hall and Shepherd left the club with and left the club in such a healthy financial position it can spunk £93 million on a single transfer window without even touching FFP.

f***ing hell.

70 odd million on ASM and Joelinton alone, granted one of those turned out to be wank but you'd think they were as tight as Norwich the way they'd go on

 

[Shibby Safc]

We've been lied to, again. First the parachute payments and again here. I utterly despise the fuckers.

 

[sir rowell cummins]

Nonsense.

Don’t give a flying shite what you think of me if I’m honest.

 

[West_Winger]

Are they? They may once have been, but there are good grounds to think that's not the case.

According to you there were no grounds for thinking KLD had less than 50% of the shares yet here we are.

 

[AndrewP]

You can have it written into the share agreement that you do. There are also shares with voting rights and shares without.

You absolutely can have a controlling interest without a share majority - it just needs to be written in black and white which presumably it is.

@Grumpy Old Man

Is this true?

 

[DJP]

Fuck them. This needs some serious protest. Bed sheets the lot.

But what shops can we shout at?

We haven't even got a Joplings or a Debenhams.

 

[andyj73]

.. That's it for me .. They can fuck off ..

 

[NYMackem]

The assumption everyone is making is that JS, SD, and CM are still collaborating. Madrox is no longer involved at all (the registered office is now in Oxfordshire); they hold shares in Mercator as individuals. My own feeling is that Donald is the isolated one, with JS and CM now backing KLD.

How can there be no person of significant control if two individuals both own over 25% of the shares personally?

I thought that it might have been a fudge because KLDs share was owned by a family trust or something (though even then he's a PSC if it's him making the decisions).

I'm also assuming that recent CH filing posted on here where the top company stated there were no PSCs was genuine.

 

[Roger]

Not really - why would Sartori pump money into a club and waive voting rights over his shares? What would he gain from that?

Has he actually pumped much money in though?

I can't answer that.

 

[The Little General]

He’s a club killer mate. Him and his chums.

Surely now is the time for fans to organise something.

 

[samaistonsrightfoot]

Feel a bit sorry for Neil tbh. Walked into a complete shit storm. Nee wonder Keane fucked it off and they would only give a rolling contract.

 

[Grumpy Old Man]

This @Grumpy Old Man has a few apologies to dish out tbh. Hope his free Guinness was worth it.

HE NEVER EVER BOUGHT ME A f***ing PINT. I HAD TWO CHATS WITH HIM.

LOOK.i'M HUMAN AND GET THINGS WRING SOMETIMES. AND THAT'S A f***ing CRIME NOW.

 

[Kevsgreat]

Well that and the communications being deliberately misleading (again - like the ‘we gave Ellis £40m’ guff). That will see any trust and faith from the majority of people eviscerated

That's it for me like. More erosion of trust with the half truths.