Dave King to Sell Shares to Club 1872

[buster. 5,257]

24 minutes ago, Bluedell said:

 

12.   Both King and Laura claim that the accounts are healthy when they show that the club continues to need investor support to meet its liabilities. Would they not accept that they are misleading fans in overstating the strength of the balance sheet?

 

In 9 months we could be in relatively decent financial shape but then again, might not be.

All depends on what transpires in the coming months, plus Covid factor.

 

Misleading to a degree or partially sighted optimism.

When DK talked of a squad value of 200M (STV Q&A) you know he's on flimsy ground at this moment in time....BUT may yet, regards financial state/club value, end up as being correct.  It's a spectulative judgement call.

 

 

 

 

 

 

 

Edited December 10, 2020 by buster.

[forlanssister 3,114]

35 minutes ago, Bluedell said:

I've just listened to the podcast. Thanks to Stevie for carrying it out, but, for me, it raises more questions than it answers.

 

1.       How will C1872 having 25% prevent the events of 2012 as was claimed by Laura?

I don’t see how it would prevent any such events. It wouldn’t have prevented Murray selling to Whyte and I don’t see how it would have prevented any of Whyte’s actions.

 

2.       How would Dave King have prevented Murray giving “the clubs’ shares” as security if he’d known about it?

       

Murray didn’t give the shares as security, but that’s not overly relevant, but the club needed funding and there was a floating charge, so I’m not sure what King would have done.

 

3.       Given the above 2 questions, is the phrase “never again” meaningless?

 

4.       When Laura says that directors of C1872 have no more power than the ordinary members, is that true? 

3 directors have proposed this scheme. 3 members could not propose it or propose an alternative scheme. We are not getting a vote on it so the claim that the organisation is “member led” is also not true.

 

5.       C1872 had the option of taking part in the clubs’ share issues as confirmed by Laura so why didn’t they want to take part in them and attempt to raise funds for them? Why has Dave King taken the priority?

 

6.      Did C1872 deliberately wait until they understood that the club was not going to have any more share issues before deciding to go ahead with this fund raising exercise, given that they had offers to take part in the previous share issues?

 

7.       Is Dave King breaking confidences and potentially affecting the price of shares by stating that any future share issues will be above 20p?

 

8.       Is Dave King privy to the minutes of any board meetings since the last one he chaired in March? Given the Covid 19 crisis, the new funding issues and the lack of player sales not drastically changed the landscape and the funding of the club?

 

9.       Is it C1872 policy that they would prefer the club to sell players to provide funding rather than C1872 buy new shares, as Laura suggests? Is it disingenuous to suggest that the club does no need funding, when it clearly does, especially when King says that he expects his £5m plus interest to be repaid in 10 months’ time.

 

10.   When Laura says that the fans need to step up and take responsibility, why have C1872 not been encouraging participation in the share issues? Is there not a contradiction?

 

11.   If Laura claims that buying shares is not a key decision then is refusing to buy shares in the club not a key decision? 

 

12.   Both King and Laura claim that the accounts are healthy when they show that the club continues to need investor support to meet its liabilities. Would they not accept that they are misleading fans in overstating the strength of the balance sheet?

 

13.   Why are C1872 ignoring their own constitution by not bring a potential £13m investment to the members to vote on? Is a £13m outflow not a “decision relating to a matter which would have a material effect on the assets of the Company” What level of outflow does Laura feel is material?

 

14.   Has there ever been an AGM of C1872?

Very pertinent set of questions there that deserve a wider audience than it will receive here, sadly.

[Stevie - 4lads Blog 922]

3 hours ago, Bluedell said:

Are you giving up the podcast, Stevie?

Yes 

 

One more episode then I am stopping 

[Bluedell 5,679]

17 minutes ago, Stevie - 4lads Blog said:

Yes 

 

One more episode then I am stopping 

A shame. Thanks for the ones you've done. I haven't listened to them all yet  but will at some point. 

[Stevie - 4lads Blog 922]

1 minute ago, Bluedell said:

A shame. Thanks for the ones you've done. I haven't listened to them all yet  but will at some point. 

Appreciate that 

 

It’s not anything to do with the podcast or not enjoying it, I’ve actually got a job offer which I can’t say anything about as yet 

 

But when it comes out people will figure out why I have stopped 

 

It’s definitely a good thing personally 

[Frankie 8,663]

Got a proper listen to this yesterday and only getting time to comment now I seem to have more time for stuff like this at work instead of when I'm on holiday like this week!  

 

First of all, I thought Stevie and Chris did a fine job of the questions and I also felt Dave King and Laura did a decent effort at batting these back openly enough.  However, there are some gaps that when we consider the sums involved and the responsibilities therein need filled in.

 

I've asked Laura if we can do that via the Gersnet pod in mid-late January.  That's a few weeks away but it lets us consume all the existing media on the news and get the festivities out the road before revisiting the subject.  It also gives Club 1872 time to take on board all the feedback and think about how best to answer the various questions that certainly have a lot of merit.

[rbr 1,266]

First off thanks to Stevie for everything he’s done in the past and I wish him all the very best for his future .

 

Hopefully the blogs continue .

 

With  regards to the podcast with DK and Laura Faulkes , I get really really frustrated when they answer in a way that’s not 100% true , I’m not accusing them of lying , but they use very political woolly language , in fact Dave King is turning into our very own Donald Trump , he plays to the gallery .

 

Another question or rather point that needs addressed is the position of DK,s favourite poodle , aka , Chris Graham , what position does he still have with regards Club1872 , or now that DP has booted him out , is he gone completely .

[craig 5,199]

3 hours ago, Stevie - 4lads Blog said:

Appreciate that 

 

It’s not anything to do with the podcast or not enjoying it, I’ve actually got a job offer which I can’t say anything about as yet 

 

But when it comes out people will figure out why I have stopped 

 

It’s definitely a good thing personally 

Head of investor relations at RIFC

 

Good luck in the new role Stevie, whatever it is

[Stevie - 4lads Blog 922]

2 hours ago, rbr said:

First off thanks to Stevie for everything he’s done in the past and I wish him all the very best for his future .

 

Hopefully the blogs continue .

 

With  regards to the podcast with DK and Laura Faulkes , I get really really frustrated when they answer in a way that’s not 100% true , I’m not accusing them of lying , but they use very political woolly language , in fact Dave King is turning into our very own Donald Trump , he plays to the gallery .

 

Another question or rather point that needs addressed is the position of DK,s favourite poodle , aka , Chris Graham , what position does he still have with regards Club1872 , or now that DP has booted him out , is he gone completely .

A lot of people asking regarding Chris Graham, I’m not sure what the issue is with him

 

However I took the decision not to question someone who wasn’t on the podcast themselves, didn’t seem fair 

 

I however pushed Laura on who was involved and was anyone behind club1872 and in the background. 
 

The answer is their is a few volunteers with three board members. 1 paid member of staff 

 

Personally I think that tells us everything but not sure why it’s a major issue. I appreciate I am obviously completely naive so apologies for that 

[Stevie - 4lads Blog 922]

1 hour ago, craig said:

Head of investor relations at RIFC

 

Good luck in the new role Stevie, whatever it is

Ha thank you 

 

Nothing that exciting but an exciting opportunity for me, you will know about it soon