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Confirmed KLD only owns 41%

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The controlling interest point needs to be cleared up now then. Whether that be he owns 41% of the shares but has more than half of the voting shares (maybe Donald now only has non-voting shares) or maybe even he has a call option over the others shares at a Championship valuation of the club, meaning he essentially controls as he has the right to buy the shares, surely clarity is needed
 
JAZZMANB said:
Nicked off me then I've been quoting Asda since you all wanted Murray out
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Can you not see how much of a pathetic comment it is? These people have lied through their back teeth to supporters, just to make a few bob, and people are just brushing it off. It’s an absolute disgrace man
 
Ciaran said:
The controlling interest point needs to be cleared up now then. Whether that be he owns 41% of the shares but has more than half of the voting shares (maybe Donald now only has non-voting shares) or maybe even he has a call option over the others shares at a Championship valuation of the club, meaning he essentially controls as he has the right to buy the shares, surely clarity is needed
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It does need clarity - if Donald and Methven are kept out of drafting the statement I'm sure it will be much clearer.
 
KittenMittens said:
This is partially correct.

I think as always, the devil is in the detail of the wording with these people. I mentioned this to someone else privately, but I think they've said 'controlling interest' but have given themselves some wiggle room.

I think what they are trying to pass off as 'controlling interest' is that he has taken a stake that gives him control of the footballing side. In a sense, this is accurate as he does have that control, and he has the most shares individually.

But by a legal definition, it's plainly bollocks as hes clearly not in control of the company, which is what you would assume in spirit from his statement. I know how these things work and they've deliberately kept control of the holding company, while adding the ambiguity of KLD having all the public facing control. There are no repercussions for this realistically. It's not like they're doing it in a way that would deceive a buyer/seller directly, and they could argue the statement was ambiguous, but it also explains why they're not keen on the full facts being known, as it exposes that the initial statement was not in the spirit of any reasonable interpretation.

This is their modus operandi, and it always pays to do two things with them:

1: ask yourself whether there is any ambiguity in any statement they make. Every word they say is chosen carefully

2: watch every related document or filing, and every financial update, to see if it matches with what they have said.

Unfortunately, so far, we have learned the hard way that SD, JS and CM have no moral objection to doing anything at all. I'm choosing to give KLD the benefit of the doubt as there seems no obvious reason for him to be involved in such ridiculous deceit, but once he's in, he may not have control over the wording of ownership statements.
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Thanks.
We will probably never get to see the true detail of what KLDs 41% truly gives him in terms of control as Mercator are a non domiciled company whose articles are likely to be protected by an NDA.
All that we know is that KLD owns 41% of a company that owns 100% of SAFC. Giving him a controlling interest not necessarily majority ownership.
 
KittenMittens said:
This is partially correct.

I think as always, the devil is in the detail of the wording with these people. I mentioned this to someone else privately, but I think they've said 'controlling interest' but have given themselves some wiggle room.

I think what they are trying to pass off as 'controlling interest' is that he has taken a stake that gives him control of the footballing side. In a sense, this is accurate as he does have that control, and he has the most shares individually.

But by a legal definition, it's plainly bollocks as hes clearly not in control of the company, which is what you would assume in spirit from his statement. I know how these things work and they've deliberately kept control of the holding company, while adding the ambiguity of KLD having all the public facing control. There are no repercussions for this realistically. It's not like they're doing it in a way that would deceive a buyer/seller directly, and they could argue the statement was ambiguous, but it also explains why they're not keen on the full facts being known, as it exposes that the initial statement was not in the spirit of any reasonable interpretation.

This is their modus operandi, and it always pays to do two things with them:

1: ask yourself whether there is any ambiguity in any statement they make. Every word they say is chosen carefully

2: watch every related document or filing, and every financial update, to see if it matches with what they have said.

Unfortunately, so far, we have learned the hard way that SD, JS and CM have no moral objection to doing anything at all. I'm choosing to give KLD the benefit of the doubt as there seems no obvious reason for him to be involved in such ridiculous deceit, but once he's in, he may not have control over the wording of ownership statements.
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If the terms of the NDA were for a year, KLD couldn't clarify the very carefully worded statements until now (one year later).
It's possible that KLD is entirely genuine and is the one behind this afternoon's leak
 
Fred Basset said:
That's me done. Have had enough. Will not put any money into the club whilst any single one of them is still there. Not saying my view is the right way for others, choose the path best for you, but it is the path for me.

Fuck them.
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Correct thing to do ,as in follow what you believe, I'm complete opposite but non of us are answerable to anyone by making our choice
 
With Mevthen still hanging around at games. It’s been glaringly obvious for ages now that Madrox have had some sort of say and haven’t gone off into the background
 
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