Reading FC ltd company announcement

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Royals and Racers
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Reading FC ltd company announcement

by Royals and Racers » 02 Oct 2017 16:08

I today received notification of an announcement to the city.
Return of allotment of shares
capital changed
was 9,550,000.00
now 24,592,980.00

is this anything A new B important ??

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winchester_royal
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Re: Reading FC ltd company announcement

by winchester_royal » 03 Oct 2017 14:16

All it'll be is the club issuing new shares to the current owners, who will pay a certain amount of money for these shares, in order to raise some cash. Interesting (and probably quite promising) that they've chosen to pump funds in this way rather than a loan.

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Green
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Re: Reading FC ltd company announcement

by Green » 03 Oct 2017 14:30

winchester_royal wrote:Interesting (and probably quite promising) that they've chosen to pump funds in this way rather than a loan.

Your reading is different to mine. Isn't this more to do with diluting other shareholders?

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winchester_royal
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Re: Reading FC ltd company announcement

by winchester_royal » 03 Oct 2017 14:33

Green wrote:
winchester_royal wrote:Interesting (and probably quite promising) that they've chosen to pump funds in this way rather than a loan.

Your reading is different to mine. Isn't this more to do with diluting other shareholders?


Well according to the filing they've paid 52.5p per share for over 30m shares, so that's a very expensive way to dilute another person's shareholding.

I'd also be very surprised if there's nothing in the Articles of Association that stops the dilution of a minority shareholding without some kind of agreement in place.

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Snowflake Royal
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Re: Reading FC ltd company announcement

by Snowflake Royal » 06 Oct 2017 16:40

Aren't there only two other shareholders to dilute anyway?


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