Next Meeting with the Club

[Malcontent]

On this evenings BBC's 5 live programme, Matt Slater was interviewed about Portsmouth fans attempt to take over their club. While this still has significant hurdles to overcome, I was taken by his comments that clubs are more open to having fans as shareholders. He mentioned Wycombe and Swansea as examples, the latter being 20% owned by the fan base.

I don't know when the next planned meeting is with the club, but I wonder if this can be tabled as a serious option? It will require a serious amount of coordination and effort, but worth a try?

 

[McNasty]

On this evenings BBC's 5 live programme, Matt Slater was interviewed about Portsmouth fans attempt to take over their club. While this still has significant hurdles to overcome, I was taken by his comments that clubs are more open to having fans as shareholders. He mentioned Wycombe and Swansea as examples, the latter being 20% owned by the fan base.

I don't know when the next planned meeting is with the club, but I wonder if this can be tabled as a serious option? It will require a serious amount of coordination and effort, but worth a try?

With the Chairman owning , I think, about 76% of the shares I personally don't think there would be any point even considering any thoughts of a takeover.

When the last share sale went ahead, and ShrimperZone.com ltd bought shares, there was a very poor take-up and I feel any takeover would require one very rich person to buy out the Chairman.

 

[Malcontent]

Sorry, I should have made it clear, not a takeover, but a minority shareholding. Do you think this has any merit?

 

[Jam_Man]

So a group of fans raise how much to get say 10%? Half a million ?

Ron Martin remains in charge and gets abig chunk of cash, which will disappear within 6 months into the black hole of our accounts.

Seems to be more in his favour than the fans ?

 

[londonblue]

So a group of fans raise how much to get say 10%? Half a million ?

Ron Martin remains in charge and gets abig chunk of cash, which will disappear within 6 months into the black hole of our accounts.

Seems to be more in his favour than the fans ?

Depends who you buy the shares from. If you don't buy them from him (I doubt he would sell his shares), and they're shares that are already in circulation then he won't get any money.

That said, what percentage of shares are now owned by fans? When the club sold new shares last time around the take up may have been poor, but do we know how many were bought by fans?

 

[Kent Shrimper]

Depends who you buy the shares from. If you don't buy them from him (I doubt he would sell his shares), and they're shares that are already in circulation then he won't get any money.

That said, what percentage of shares are now owned by fans? When the club sold new shares last time around the take up may have been poor, but do we know how many were bought by fans?

Its a good point as there are still a small group of individuals who have chunks of shares

 

[Jam_Man]

Depends who you buy the shares from. If you don't buy them from him (I doubt he would sell his shares), and they're shares that are already in circulation then he won't get any money.

That said, what percentage of shares are now owned by fans? When the club sold new shares last time around the take up may have been poor, but do we know how many were bought by fans?

Yep thats a good point.

Im not sure anyone would benefit if someone just bought all the other shares though.

 

[Kent Shrimper]

Yep thats a good point.

Im not sure anyone would benefit if someone just bought all the other shares though.

I think if we could amass over 20% we then have the ability to call EGMS etc, this was looked at a few years ago and i cants remember the details but someone more knowledgeable will be along in a moment

 

[Firestorm]

Depends who you buy the shares from. If you don't buy them from him (I doubt he would sell his shares), and they're shares that are already in circulation then he won't get any money.

That said, what percentage of shares are now owned by fans? When the club sold new shares last time around the take up may have been poor, but do we know how many were bought by fans?

There is no insinuation that Ron would get the money, nor will the half a million go to pay for the shares.

What is meant by "more in his favour" is that currently RM is putting in 80-100k per month to underwrite the losses, if a group of minority shareholders put in half a million, thats 6 months of RM not having to dip into his own savings (mortgage more of his own land) where as for the rest of the board , fan base etc it is carry on regardless

 

[londonblue]

So a group of fans raise how much to get say 10%? Half a million ?

Ron Martin remains in charge and gets abig chunk of cash, which will disappear within 6 months into the black hole of our accounts.

Seems to be more in his favour than the fans ?

There is no insinuation that Ron would get the money, nor will the half a million go to pay for the shares.

What is meant by "more in his favour" is that currently RM is putting in 80-100k per month to underwrite the losses, if a group of minority shareholders put in half a million, thats 6 months of RM not having to dip into his own savings (mortgage more of his own land) where as for the rest of the board , fan base etc it is carry on regardless

You're right, it wasn't insinuated. It was stated quite clearly!

 

[Jam_Man]

You're right, it wasn't insinuated. It was stated quite clearly!

I never stated the money would go to Ron, but into the club to be fair...