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Takeover and Wednesday making the headlines even in Norway


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Also made news in California . Son text me wanting to find out what's happening!

I've just come back from Dusseldorf and it made the news over there, I thought I was seeing things when pictures of Hillsborough started appearing on the german TV news channel.

We're still a 'name' but for how much longer?

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Guest HeddaGambler

In Aftenposten - the largest newspaper in the country - today there is a very interesting article about the proposed takeover. it states this:

Investorene ønsker ikke å bli navngitt, men skal ifølge talsmannen være villige til å betale klubbens skattegjeld på om lag seks millioner norske kroner for å vise sin forpliktelse til samarbeidet.

Translated:

The investors do not want to be named, but are according to the spokesperson willing to pay off the club`s tax debts at about six hundred thousand pounds to show their commitment to the cooperation.

If any investor is willing to pay off our debts to show their commitment, what have we got to loose? Let them pay, we have more than enough money in this country!

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In Aftenposten - the largest newspaper in the country - today there is a very interesting article about the proposed takeover. it states this:

Investorene ønsker ikke å bli navngitt, men skal ifølge talsmannen være villige til å betale klubbens skattegjeld på om lag seks millioner norske kroner for å vise sin forpliktelse til samarbeidet.

Translated:

The investors do not want to be named, but are according to the spokesperson willing to pay off the club`s tax debts at about six hundred thousand pounds to show their commitment to the cooperation.

If any investor is willing to pay off our debts to show their commitment, what have we got to loose? Let them pay, we have more than enough money in this country!

Sounds good to me

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Guest Buxtonian

Does it matter whether they are a large firm or a small firm. The only thing we need is a relatively 'small' amount of CASH in the short term. It is a rescue bid in the first place, and someone who can provide more investment as the corner is turned.

I would venture to suggest that we are more likely to receive better support from a 'small' firm, than from a major conglomerate.

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Hmm, ok, as a Norwegian myself I'm happy to see Norwegian interest in Sheff Weds.

On the other hand, Berge Gerdt Larsen doesn't have a good track record with his companies and in fact a record of mismaintenance of debt, subject to police razzia for tax revision, etc. Of course, he's been cleared by law for many of these cases, but I'm not yet sure he'll bring those oil billions of the filthy rich Norwegians into the club.

Of course, money in the bank through investment and takeover would probably be better than our current situation, so I'll hold my breath a little bit longer... go Wilkinson, work this magic that you were so optimistic about the other day.

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Just translated the the article.

Doesnt seem to be saying anything that interesting other than naming Berge Larson as the man with the funds. I keep reading that an oil company is going to buy us, but just wanted to point out that that is very unlikely as even if an oil company was was wholly owned by one idividual they would almost certainly not want our football club on their balance sheet, or as a subsidiary company.

much more likely for any company that bought us to be directly owned by an individual, a collection of individuals, or no more than a sister company of an oil company (still highly unlikely)

Anyway, I have done some investigation around Larson. Dispite what the original post says Larson is not the owner of DNO but the chairman. However, he does have a fairly sizable interest in the company at c.43mm shares, which at todays price puts his equity stake at c.NOK392mm or GBP42.4mm.

In addition to this, he would also appear to have additional equity stakes in other oil businesses such as Network Drilling.

No doubt has his fingers in a number of pies given position within the oil industry and accumulated wealth.

There is also a bit about a DNO spokesman not knowing anything about the matter. That would appear no more than sensible given that DNO will not be buying our club directly given they are listed and held by a range of investors including asset managers. The day an asset manager wants exposure to Sheff Wed is the day pigs fly. hahaha

Anyway, could be this guy as obviously has some funds. Interestingly, the article mentions an FA rule which forbids an individual owning more than 10% in any one english club. Im assuming that they are referring to IOR and Hartlepool. not had a chance to research that side of it, i.e. his involvement etc, as busy at work but will maybe look later

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I checked this Independent Oilfield Rentals company that the article mentions.

Think they have made a mistake here. Im assuming that the company is Increased Oil Recovery.......(they have a link to hartlepool and thus to Turner)

Having checked the guys positions, he appears to hold the following

Executive Chairman

DNO International ASA

Chairman of the Board

Petrolia Drilling ASA

Director

Det Norske Oljeselskap ASA

Former Director

Rocksource ASA

Director

PetroMena ASA.

Board Member

Increased Oil Recovery AS

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I checked this Independent Oilfield Rentals company that the article mentions.

Think they have made a mistake here. Im assuming that the company is Increased Oil Recovery.......(they have a link to hartlepool and thus to Turner)

Having checked the guys positions, he appears to hold the following

Executive Chairman

DNO International ASA

Chairman of the Board

Petrolia DrillinI checked this Independent Oilfield Rentals company that the article mentions.

Think they have made a mistake here. Im assuming that the company is Increased Oil Recovery.......(they have a link to hartlepool and thus to Turner)

Having checked the guys positions, he appears to hold the following

Executive Chairman

DNO International ASA

Chairman of the Board

Petrolia Drilling ASA

Director

Det Norske Oljeselskap ASA

Former Director

Rocksource ASA

Director

PetroMena ASA.

Board Member

Increased Oil Recovery ASg ASA

Director

Det Norske Oljeselskap ASA

Former Director

Rocksource ASA

Director

PetroMena ASA.

Board Member

Increased Oil Recovery AS

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I checked this Independent Oilfield Rentals company that the article mentions.

Think they have made a mistake here. Im assuming that the company is Increased Oil Recovery.......(they have a link to hartlepool and thus to Turner)

Having checked the guys positions, he appears to hold the following

Executive Chairman

DNO International ASA

Chairman of the Board

Petrolia DrillinI checked this Independent Oilfield Rentals company that the article mentions.

Think they have made a mistake here. Im assuming that the company is Increased Oil Recovery.......(they have a link to hartlepool and thus to Turner)

Having checked the guys positions, he appears to hold the following

Executive Chairman

DNO International ASA

Chairman of the Board

Petrolia Drilling ASA

Director

Det Norske Oljeselskap ASA

Former Director

Rocksource ASA

Director

PetroMena ASA.

Board Member

Increased Oil Recovery ASg ASA

Director

Det Norske Oljeselskap ASA

Former Director

Rocksource ASA

Director

PetroMena ASA.

Board Member

Increased Oil Recovery AS

And this means what exactly?

Edited by Tarnyowl
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