Takeover...

[southportdc]

unless Milan issued them to himself, pending the take over by a Consortium who needed a larger amount of Shares than 1000 to split them properly?

That's what I thought. Otherwise, surely we've been taken over without anyone noticing?

Although, little worrying if the consortium are only divisible by 822,000...

[Last_Great_Hope]

So would that mean (in simplistic terms) that either

 

a, We owed someone £822,000 and paid them back by way of shares in the company

 

or

 

b, Someone "lent" us £822,000 and we gave them shares as security.

 

or

 

c, could be summat totally different.

 

if someone from outside the Company ownership was given 822,000 shares for £822,000, then MM would have given the control of the club to someone for £822,000. Makes no sense since his asking price had been £30m to £40m.

[scarboro-owl]

unless Milan issued them to himself, pending the take over by a Consortium who needed a larger amount of Shares than 1000 to split them properly?

unless there are more than 1000 people in the consortium, then that's a non starter

[Last_Great_Hope]

That's what I thought. Otherwise, surely we've been taken over without anyone noticing?

Although, little worrying if the consortium are only divisible by 822,000...

 

823,000 to be pendatic.

[Saxondale]

I'm trying to keep up with you intelligent folk on here but I'm really struggling. Someone just PM when it's done.

[vulva]

My money is on an old loan getting repaid with shares.

[crookesowl]

Is my post above good enough for you lads?

Yes that confirms what you said.

As you said you have to put two and two together but it's an interesting development.

[Last_Great_Hope]

unless there are more than 1000 people in the consortium, then that's a non starter

 

Certain amount of "front men" each with numerous backers? No idea really, just thinking out loud to see what makes sense.

[Davetherave]

Looks reyt cowd in dere!

[Guest _Ibbo_]

And if that's true - isn't whoever holds those shares the majority shareholders?

Don't understand any of this.

It's not difficult.

If there are 1000 shares in swfc and Milan owns 501 he has control of the company.

In this case 800,000 new ones have been created. They might be issued to Milan,Split with someone else. We have no idea.

What happens is that it's often a debt to equity swap. Someone who loaned swfc money might have accepted shares in return in lieu of the cash. Milan might still have 51%. Unfortunately no one actually knows at the moment.

If the Thais paid a months wages Milan might have issued them 800,000 swfc shares in return for stumping up the cash For example.

Fairly straightforward. We just don't have the details.

[southportdc]

My money is on an old loan getting repaid with shares.

Shares 800 times the value of the holding UK Football Investments have though? That's what confuses me.

[Freshfish]

Wednesday had been reported to have matched Rotherham's £800,000 bid for May in midweek and following talks with both clubs the 21-year-old has opted for a move to Hillsborough.

Edited January 25, 2015 by Freshfish

[Guest totemowl]

And if that's true - isn't whoever holds those shares the majority shareholders?

Don't understand any of this.

Isn't it the case that these new shares can be distributed to existing shareholders (say 800 to 1) and allocated to new shareholders (eg 22,000)? Therefore MM's ownership might not be significantly affected.

That was my understanding of how a SH01 could be used.

(Ibbo might have said it better)

Edited January 25, 2015 by totemowl

[Last_Great_Hope]

My money is on an old loan getting repaid with shares.

 

Milan has 1000 shares.

 

Creates 822,000 more shares then gives them away for an old debt?

 

That would mean Milan only owns 0.12% of the club now, in exchange for an old debt?

[southportdc]

It's not difficult.

If there are 1000 shares in swfc and Milan owns 501 he has control of the company.

In this case 800,000 new ones have been created. They might be issued to Milan,Split with someone else. We have no idea.

What happens is that it's often a debt to equity swap. Someone who loaned swfc money might have accepted shares in return in lieu of the cash. Milan might still have 51%. Unfortunately no one actually knows at the moment.

If the Thais paid a months wages Milan might have issued them 800,000 swfc shares in return for stumping up the cash For example.

Fairly straightforward. We just don't have the details.

Thought the form said it was an issue to one shareholder?

[Guest mkowl]

It certainly doesn't make sense that MM would issue new shares to a 3rd party for that sum

 

May well be that issued to UK Football Investments and then these have been lodged as security in an escrow account of sorts

[southportdc]

Isn't it the case that these new shares can be distributed to existing shareholders (say 800 to 1) and allocated to new shareholders (eg 22,000)? Therefore MM's ownership might not be significantly affected.

That was my understanding of how a SH01 could be used.

Didn't know that. Read MKs post as there being one new shareholder. This would make sense. Although is not helpful in seeing what they were issued for.

[Last_Great_Hope]

It certainly doesn't make sense that MM would issue new shares to a 3rd party for that sum

 

May well be that issued to UK Football Investments and then these have been lodged as security in an escrow account of sorts

 

Which would be done for what reason? Security for a 3rd party?

[vulva]

Has Terry Brown been repaid then?

[RichieB]

This share issue is nowt to do with a takeover IMO, people are just wanting to believe so much there matching it together best they can. It's far more likely the share issue is to do with the loans being repaid by way of a share issue especially as it was in November and that's around the time the loan was due to be repaid, I remember reading in the accounts.