SUFC: The Future SUFC up for sale

[fbm]

He holds enough debt on the balance sheet, that he could take his shareholding as high as he wants to. But absolute fact, a debt restructure will need to take place and RM or new owners shares be above 75% for it to work

Ah, ok, so you're saying he recapitalises the club, doing a share dilution at the same time by effectively converting the debt into less debt and resulting in a higher shareholding, yes?

 

[CRATE]

Ah, ok, so you're saying he recapitalises the club, doing a share dilution at the same time by effectively converting the debt into less debt and resulting in a higher shareholding, yes?

Correct

 

[Barry.C]

Ah, ok, so you're saying he recapitalises the club, doing a share dilution at the same time by effectively converting the debt into less debt and resulting in a higher shareholding, yes?

Would that be possible/legal without a shareholder board vote,.i.e.75% approval etc, And if departing why increase your shareholding? Rons shares and current board members add up to more than 80+% ?

 

[fbm]

Would that be possible/legal without a shareholder board vote,.i.e.75% approval etc, And if departing why increase your shareholding? Rons shares and current board members add up to more than 80+% ?

No idea

 

[CRATE]

Would that be possible/legal without a shareholder board vote,.i.e.75% approval etc, And if departing why increase your shareholding? Rons shares and current board members add up to more than 80+% ?

The other board members will continue to exist. Whoever buys the club will want to own a minimum of 75% so they can pass special resolutions.

 

[CanveyCastle]

The other board members will continue to exist. Whoever buys the club will want to own a minimum of 75% so they can pass special resolutions.

Are you Australian ?

Have you got 4 friends ? (Well 3, and your pathetic love-child)

 

[KevinJH]

One wonders, speaking of shares, where the supposed outstanding Jobson shares/money owed (actually or allegedly) come into any ongoing sale of the club or would that be for RM personally to sort out after completion ?

 

[Holy Joe]

One wonders, speaking of shares, where the supposed outstanding Jobson shares/money owed (actually or allegedly) come into any ongoing sale of the club or would that be for RM personally to sort out after completion ?

I suspect that's an issue between Jobson and Martin - it's an alleged breach of contract. I doubt it means he doesn't own the shares.

 

[Yorkshire Blue]

My understanding of property matters is limited to say the very least. So he is offering the soil of Roots Hall for 4 million? When there could be 600 odd flats priced (let's go conservative) at 200,000 each?

Freehold here means owning the lot (the pitch, the stands, the car park, the land it is on). As opposed to leasehold which would be renting it from a landlord.

The new owner (hopefully the club) could then do with Roots Hall what they want, subject to planning permission. That could be redevelop, it could be build the flats that have planning permission - although that would require an alternative stadium to be built.

Ah, ok, so you're saying he recapitalises the club, doing a share dilution at the same time by effectively converting the debt into less debt and resulting in a higher shareholding, yes?

Not by 23rd August he’s not.

 

[palexander]

Ah, ok, so you're saying he recapitalises the club, doing a share dilution at the same time by effectively converting the debt into less debt and resulting in a higher shareholding, yes?

Just about what I was going to say tbf….

 

[Tommy2holes]

Do we know if the Australian contingent were present yesterday?

If so, they would have been impressed by performance and fan passion.

I hope they were.

 

[Barry.C]

Do we know if the Australian contingent were present yesterday?

If so, they would have been impressed by performance and fan passion.

I hope they were.

Pack leader ?

 

[Exiled in Norfolk]

The other board members will continue to exist. Whoever buys the club will want to own a minimum of 75% so they can pass special resolutions.

Sorry.

I'm desperately trying to follow this. If RM currently "only" owns 70% of the club, which the thread seems to imply, he's been able to so pretty much anything he's wanted to date. Including, according to some, changing the price of the club daily. The other directors aren;t going to change if I've got this right.

Why would anyone taking his 70% not be in just as strong a postion?

I feel like I'm happier just following the 4-0 Oldham thread!!!

 

[Jack_23]

After a positive weeekend . Let’s see what the coming week brings with the objective still being getting Ron out ASAP

 

[Joshy boy]

After a positive weeekend . Let’s see what the coming week brings with the objective still being getting Ron out ASAP

Agreed. I wouldn’t even mind if come Monday or Tuesday, we get the embargo lifted or some sort. Hoping that something happens within the next week or two.

 

[Mr Browns Ghost]

Agreed. I wouldn’t even mind if come Monday or Tuesday, we get the embargo lifted or some sort. Hoping that something happens within the next week or two.

I reckon that’s probably going to happen josh yer zzzzz

 

[RHB]

I reckon that’s probably going to happen josh yer zzzzz

Just to clarify @Joshy boy, this is irony. We have two hopes of the embargo being lifted this week Bob Hope and no hope.

 

[Boreham Blue]

WUP can't be settled until back in court so not possible until 23rd August at earliest I believe (someone may correct me).

 

[Joshy boy]

Just to clarify @Joshy boy, this is irony. We have two hopes of the embargo being lifted this week Bob Hope and no hope.

In Bob Hope we trust

 

[Joshy boy]

WUP can't be settled until back in court so not possible until 23rd August at earliest I believe (someone may correct me).

Might be a shout actually. I personally thought that if we have the funds (somehow) we can get it settled whenever or call a court date earlier than the 23rd… can someone clarify this question please