Club 1872 funding | Club 1872 purchase more shares

[stewarty 2,060]

35 minutes ago, Bluedell said:

They claim the reason why they didn't take part in the most recent share issue was because they weren't able to complete "due diligence". It's not been established what part of the club the C1872 board need to increase their knowledge on.

 

As for the others, as has been proven with the King request, they could just ask the fans for cash and they would get some. They would have been given a bit of notice. The fact that they didn't bother just increases speculation as to why they were so keen to do it for King.

Agree that didn't seem to make much sense and the decision making should be more transparent.  Again though, clearer communication/updates would be helpful.

[barca72 440]

7 hours ago, Bluedell said:

They claim the reason why they didn't take part in the most recent share issue was because they weren't able to complete "due diligence". It's not been established what part of the club the C1872 board need to increase their knowledge on.

 

As for the others, as has been proven with the King request, they could just ask the fans for cash and they would get some. They would have been given a bit of notice. The fact that they didn't bother just increases speculation as to why they were so keen to do it for King.

If Club1872 buy DK's shares and get to the vaunted 25% level, how long would it take them to reach this level if they buy shares through the club offering new public sales?

Found this...

 

[Bill 13,717]

9 minutes ago, barca72 said:

If Club1872 buy DK's shares and get to the vaunted 25% level, how long would it take them to reach this level if they buy shares through the club offering new public sales?

Even if Club1872 could raise the money to buy the DK shares, would that still give them 25% if the club in the meantime decide to issue new shares and dilute everyone's shareholding that doesn't participate in the new issue? And if Club1872 do exercise their pre-emption rights, how will they fund the purchase of both new shares and the DK shares.

 

And the much bigger question for every contributor to Club1872 .... what exactly is it that Club1872 will be blocking with their mighty shareholding. Because it seems to me that the only connection between being able to block club business and actually blocking the right club business is blind trust in an organisation that is prone to changes of both leadership and policy at the whim of an AGM. 

[the gunslinger 3,366]

everyone gets a vote on what they do at AGM's

 

 

[Bluedell 5,679]

1 hour ago, barca72 said:

If Club1872 buy DK's shares and get to the vaunted 25% level, how long would it take them to reach this level if they buy shares through the club offering new public sales?

 

 

I did the calculation of what it meant when the issue was first raised. Can't remember what the answer was and whether in posted it here or FF but buying from the club rather than King would give them 23% (from memory..I can't remember the exact figure but it was round about that).

[the gunslinger 3,366]

they won't get to 25% by either route alone certainly. 

 

 

[barca72 440]

6 hours ago, Bill said:

Even if Club1872 could raise the money to buy the DK shares, would that still give them 25% if the club in the meantime decide to issue new shares and dilute everyone's shareholding that doesn't participate in the new issue? And if Club1872 do exercise their pre-emption rights, how will they fund the purchase of both new shares and the DK shares.

 

And the much bigger question for every contributor to Club1872 .... what exactly is it that Club1872 will be blocking with their mighty shareholding. Because it seems to me that the only connection between being able to block club business and actually blocking the right club business is blind trust in an organisation that is prone to changes of both leadership and policy at the whim of an AGM. 

If, as you are intimating, Club1872 is not the right vessel to be used for fan participation at board level, what route would you suggest that the fans follow?

[Bill 13,717]

40 minutes ago, barca72 said:

If, as you are intimating, Club1872 is not the right vessel to be used for fan participation at board level, what route would you suggest that the fans follow?

I’m intimating nothing beyond the questions I posted. What I suggest is that fans who want to help the club should help the club, not finance the exit of a director. 

[buster. 5,257]

4 hours ago, Bill said:

I’m intimating nothing beyond the questions I posted. What I suggest is that fans who want to help the club should help the club, not finance the exit of a director. 

Agreed !

It just seems so obvious...

 

Ultimately, the objective is to safeguard the club and the immediate priority is to reach the place (on and off field) that DK talks of as almost being a slam dunk, but IMO it isn't. There is work to do and there is Covid.

 

We've been under the charge of a board of fans (including DK) who have led a vast improvment on and off field, to the point of giving us a decent chance of reaching some of our most important goals.

 

Covid means that the financial shortfall that needs filled will be greater and will probably last for longer.

ie. Biggest current priority wrt to safeguarding club is funding shortfall, at a time when the Covid factor is still unstable and unpredictable.

 

I've said before, 25% of 0  isn't much.

 

[the gunslinger 3,366]

6 hours ago, Bill said:

I’m intimating nothing beyond the questions I posted. What I suggest is that fans who want to help the club should help the club, not finance the exit of a director. 

and for 6 months at least club 1872 is easily the best way to do that. 

 

I will be.