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Post by Deleted on Sept 17, 2018 1:28:54 GMT
I am aware of Rovers fans wishing to be a part of the club via holding shares but are finding it difficult due to the shareholding of a Private Ltd Company. I would like to gauge opinion on fans wanting a share of the Rovers before exploring the possibilities. This is to deal with the legacy of "dead" shares.
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Post by stewmelrover on Sept 17, 2018 4:38:02 GMT
Haha, good one. You forgot option 4: 'whole idea blocked by major shareholder'.
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Post by Deleted on Sept 17, 2018 5:55:22 GMT
Haha, good one. You forgot option 4: 'whole idea blocked by major shareholder'. It's dealing with the legacy of "dead" shares. No-one can block it. |
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Post by stewmelrover on Sept 17, 2018 6:21:42 GMT
Is that right, aye? Have you got the 'big' shareholder's word for it?
David Higgins
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Post by Deleted on Sept 17, 2018 6:26:57 GMT
Is that right, aye? Have you got the 'big' shareholder's word for it? David Higgins Erm no. Got the Articles of Association though. They are very clear. Nothing to do with current shareholders. |
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Post by bucky on Sept 17, 2018 13:34:01 GMT
There is another option which is more realistic than a new share issue and one that Robert Watt alluded to a couple of weeks back. There Rovers fans (myself included) who may or may not be Trust members who have shares in the club . These should be clubbed together and distributed to fans who wish to buy some with the money going to the club. A short term option but at least those Rovers fans who wish to own part of the club can do so and get the opportunity to ask the club Directors direct questions.
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Post by stewmelrover on Sept 17, 2018 14:21:29 GMT
Count me in on that idea, Buchanan.
David Higgins
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Post by Deleted on Sept 17, 2018 21:05:56 GMT
There is another option which is more realistic than a new share issue and one that Robert Watt alluded to a couple of weeks back. There Rovers fans (myself included) who may or may not be Trust members who have shares in the club . These should be clubbed together and distributed to fans who wish to buy some with the money going to the club. A short term option but at least those Rovers fans who wish to own part of the club can do so and get the opportunity to ask the club Directors direct questions. Im not chasing a new share issue that, I believe, has already been rejected by the current shareholders. I am going down the road of potentially dealing with "dead" shares. Current shareholders who are untraceable due to their great grandfather owning shares, died without leaving them in a will and they are unaware that they own a part of the club. These shares could be made available after some legal battles but will only bring it back to the original number of shares. How many this is, who knows. In terms of Robert's offer I believe he was matching preference shares to those, specifically from current BoD, that would sell ordinary shares. No-one took up his offer so im not sure he is selling any. The money wouldnt go to the club but to the person selling the shares. However if there are people willing to sell some shares so people can buy into the club then all the better. You could still form a group of shareholders in terms of voting percentages at AGMs etc. |
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Post by paulrovers on Sept 17, 2018 22:18:39 GMT
What is the point in any tom, dick or Harry buying shares in ARFC? Surely the shares should only be made available to people who can offer the club something, whether that be in financial terms or someone in the business industry who can bring contacts in or something along those lines.
It all seems a bit silly for wee jimmy from Coatbridge to be buying shares in the club when the club can’t benefit in any way from him being a shareholder.
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Post by harriskid44 on Sept 17, 2018 22:25:32 GMT
You need big companys from Dubai.
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Post by paulrovers on Sept 17, 2018 22:32:01 GMT
You need big companys from Dubai. How do you? I’m sure there are people within the Coatbridge and surrounding area who could buy shares in the club and they could use their expertise in accounts, health and safety, or even help financially however big or small they could help. I just don’t understand selling shares to your every day joe bloggs where the club doesn’t actually benefit from having them as shareholders rather than people just buying them up as some sort of sentimental thing. Maybe I’m wrong, I don’t know.... |
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Post by Deleted on Sept 18, 2018 5:58:40 GMT
What is the point in any tom, dick or Harry buying shares in ARFC? Surely the shares should only be made available to people who can offer the club something, whether that be in financial terms or someone in the business industry who can bring contacts in or something along those lines. It all seems a bit silly for wee jimmy from Coatbridge to be buying shares in the club when the club can’t benefit in any way from him being a shareholder. Could be part of the plan but with some set aside for the fans to buy in as well. No one knows how many could be classed as "dead" shares and no one knows the cost of finding out. If there is a significant percentage then the trouble may be worth it. If it turns out to be 25 shares from Great Aunt Senga fae High Coats, who sadly passed away in 1988 leaving no children, then clearly it isnt worth it. |
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Post by Deleted on Sept 18, 2018 7:10:54 GMT
This should form part of a longer term initiative, a feasibility study would be required. Legally you have some challenges with this process which attracts cost. The motives behind this need to be transparent and there are rules around share issues and processes, Jimmy in the street may end up marginalised.
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Post by Deleted on Sept 18, 2018 16:12:23 GMT
For the avoidance of doubt, the offer I made was/is as follows; I will make available to non-shareholders some preferential shares (face value and also current true value £0.25) up to a number matched by Eddie and Ronnie, the only 2 members on the BOD with significant shares. The sole idea was to allow the true ARFC supporters i.e. season ticket holders, trust members and well known long term supporters to have a say at AGM's and the like. I paid £3.00 for these shares, but I don't want anything for them. Any money raised from this offer would not go to me, but would be donated to the club to assist in some small way in its present plight. If somebody wanted to be able to attend an AGM and was willing to pay a reasonable amount, say £3.00 upwards for each share, then the club benefits.
Eddie and Ronnie have not responded on the forum, or directly to me face to face or by phone. I have to presume that they are not interested!
To set the record straight, several years ago Eddie Haggerty turned down the opportunity to buy 499 shares which became available. I asked Eddie to take up the offer, which I then paid some £1500 for and asked him to spread them amongst those ARFC supporters who he thought were worthy. They were split into 10 batches of 49/50. There are those who frequent this forum who bought and paid for a bundle at that time and will verify this.
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Post by alasdair1946 on Sept 18, 2018 23:07:35 GMT
Thanks Robert ...I was indeed one of those "worthy diehards" (!). Was informed by Roy of the Rovers Dad Maxwell and duly paid my £150. I receive the club accounts and report, so I'm still on the radar but I'm really thinking I should be taking a more active interest, even though I'm just very small fry.
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