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Takeover News/Rumours

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Sons of The Wear said:
Can you cut and paste "the kid"/his family being reported as taking 60% please.
Its common sense that SD and CM are hanging around because they know if someone gets it right at SAFC that there's ££££ for them to ultimately walk away with.
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With most story’s running with Donald 15%, Methven 5% and Sartori retaining his 20%, the 60% remaining you’d guess would be taken up by the only other person mentioned, KLD.

makes more sense than the 51% you came up with from nowhere to stimulate a debate.
 

Grumpy Old Man said:
That would depend on how the money was to be put in. This deal can only be a redistribution of the shareholdings in Madrox; it's the only way it works. So we're really talking about cash going into Madrox and thence into the club. If a new shareholder puts in money via loans, then there's no obligation on the others to follow suit. If it was proposed that Madrox issues more share capital, all shareholders would be entitled to buy them at the same price, pro rata to their current holding (eg 15% to Donald). They are not obliged to do so, but if they don't then the inevitable consequence is a dilution of their shareholding.
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Could Donald veto the issue of share capital option if he didn’t want to put money in but didn’t want his share to be diluted also, therefore making director loan the only option?? Or could the share capital option be enforced on him??
 
one armed boxer said:
Could Donald veto the issue of share capital option if he didn’t want to put money in but didn’t want his share to be diluted also, therefore making director loan the only option?? Or could the share capital option be enforced on him??
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No, because he could be outvoted. Issuing of share capital is by a simple majority (ie approved by holders of more than 50% of the shares). People are seriously overestimating how much say he'll have going forward.
 
Grumpy Old Man said:
No, because he could be outvoted. Issuing of share capital is by a simple majority (ie approved by holders of more than 50% of the shares). People are seriously overestimating how much say he'll have going forward.
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Cheers, I was more thinking they could just continually enforce the share capital option on him as they have enough money to do that and dilute his share that way this saving themselves a few Bob buying him out in future, not that he has power.
 
Grumpy Old Man said:
No, because he could be outvoted. Issuing of share capital is by a simple majority (ie approved by holders of more than 50% of the shares). People are seriously overestimating how much say he'll have going forward.
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I take it that Stewie And Charlie (if their percentages are going to be 15% and 5/6%) are just going to be passengers in everything that goes on if this takeover occurs.
 
Grumpy Old Man said:
No, because he could be outvoted. Issuing of share capital is by a simple majority (ie approved by holders of more than 50% of the shares). People are seriously overestimating how much say he'll have going forward.
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He’ll have about as much say as you and I GOM.

I don’t get why people believe he’s desperate to hold on to control when he’s clearly looking to sell his majority shares. He’ll be quite happy to walk off with his lapdancer bird with a few quid in his pocket knowing if the club does well and progresses through the leagues he’ll reap some financial benefit down the line from his remaining 15%.
 
Grumpy Old Man said:
No, because he could be outvoted. Issuing of share capital is by a simple majority (ie approved by holders of more than 50% of the shares). People are seriously overestimating how much say he'll have going forward.
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It's more complicated than that. I have a consent regime where I need the consent of minority investors for a few things and that is one of them. Nobody can say what they can and can't do at this stage, because they don't have a new agreement.
 
sproates33 said:
Yes, it will be documented legally on companies house i believe.
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It will.

Example:

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Check out the shareholdings - 1000 shares, Sartori (Arvesa) holds 200, Charlie (Dragon) 60, and Donald (SJD Leisure) 740.

There may be a new level above that if they use a new company too - ie: if the consortium's company buys 80% of the shares, then the shareholding within that company will tell us who is in charge of the consortium, and therefore in effect, the person/people with most control over SAFC.
 
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KittenMittens said:
It will.

Example:

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Check out the shareholdings - 1000 shares, Sartori (Arvesa) holds 200, Charlie (Dragon) 60, and Donald (SJD Leisure) 740.

There may be a new level above that if they use a new company too - ie: if the consortium's company buys 80% of the shares, then the shareholding within that company will tell us who is in charge of the consortium, and therefore in effect, the person/people with most control over SAFC.
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Not if the vehicle is not UK registered - all you'll see then is each consortium member listed as a person of significant control. It's likely that any such vehicle will be in Luxembourg or Liechtenstein.
 
Grumpy Old Man said:
No, because he could be outvoted. Issuing of share capital is by a simple majority (ie approved by holders of more than 50% of the shares). People are seriously overestimating how much say he'll have going forward.
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I've lost count the amount of times you have had to explain this on the forum. You must be sick as a parrot. ;)
 
Grumpy Old Man said:
No one knows that the split will be. There are rumours of other investors. I wouldn't be surprised to see a new investment vehicle owned by up to four people including Sartori (who would move his shares into it from his company Avesa Corp, which holds them at the moment) holding 80% of the shares as a consortium.
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That's why I asked him because people are quoting figures that haven't been confirmed and the deal has yet to be formally announced. It's madness.
 
Kermit said:
Its basically all come from this mate as far as i can see

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That ghost of arca helmet banging on about it. Interestingly, sb nation appear to have published another article the day after appearing to backtrack from the 60% thing

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Fair do's but it's amazing such precise details come out into the public arena before anything has been rubber stamped, especially after the last minute disappointment with FPP last year.
Overall, let's just hope it's an honest deal that makes every SAFC much happier than we all are now.👍
Betty Swollocks said:
With most story’s running with Donald 15%, Methven 5% and Sartori retaining his 20%, the 60% remaining you’d guess would be taken up by the only other person mentioned, KLD.

makes more sense than the 51% you came up with from nowhere to stimulate a debate.
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I was using that as a hypothetical situation to discuss as nothing is yet concrete. *There could well be at least one other party coming in too.*
 
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