Confimred new owners of Raeding Footbal Club

[TBM]

I think Mr M is lying as Jonny Fordham told us this

[The Rouge]

Does left the board = no longer own shares in Reading FC - or not?

[melonhead]

I think Mr M is lying as Jonny Fordham told us this

[Royal Lady]

Well done SJM for that press release - no mention of thanking CS and AO for all their hard work at £20k each a month I notice!

He's done what a lot were asking and that was to let us know what was going on - kudos to the big man.

[Extended-Phenotype]

Eventually

[HoneyRoastHoax]

Does left the board = no longer own shares in Reading FC - or not?

You can still have shares and depending on the articles the company is running under you can still have a say.

Usually most ltd companies run with 1 share = 1 vote.

So it doesn't actually remove them from having their say but it does remove them from having a wage.

[UpThePrem]

I'm no businessman but can someone clarify. AO, AZ and CS are no longer on the board which is quite clear. I assume they still own the 51% shares and still have a say in how they are sold off whilst not having any voting rights in running the club.

Is there any change in how negotiations proceed with regards selling the club or can the board that is left sell there shares however they feel best suits the club?

[Extended-Phenotype]

Does left the board = no longer own shares in Reading FC - or not?

You can still have shares and depending on the articles the company is running under you can still have a say.

Usually most ltd companies run with 1 share = 1 vote.

So it doesn't actually remove them from having their say but it does remove them from having a wage.

Not really. Board members make the decisions. Only in very rare and extreme cases is there a vote of the shareholders.

[Angry Shed Sex]

Does left the board = no longer own shares in Reading FC - or not?

You don't have to own shares in an organisation to be a director of it. The FD of the company I work for has recently become a share holder and she's been with the organisation for 6 years.

The statement is designed to placate supporters and not actually tell us anything really.

The funds are in place? Yes - we sold ALF.

AZ, CS and AO have left the board. Practically what does this mean? As Mr Mad has not said they have left the club we must presume they are still employees. Do they still have the ear of the 51%? If so then not being a director means little.

[HoneyRoastHoax]

They own 51% of the ltd company so it is most likely they have the final say.

Board members = employees

Share holders = owners

[Angry Shed Sex]

Does left the board = no longer own shares in Reading FC - or not?

You can still have shares and depending on the articles the company is running under you can still have a say.

Usually most ltd companies run with 1 share = 1 vote.

So it doesn't actually remove them from having their say but it does remove them from having a wage.

Not really. Board members make the decisions. Only in very rare and extreme cases is there a vote of the shareholders.

They could call an EGM I suppose. It's still not clear what has changes practically from this statement.

[Readingfanman]

So CS and AO don't take a wage anymore and arent employed by the club at all, but still own 51% of the club?

Have no idea what is going on! Presumably they've resigned (Although why they have done so considering their payouts is beyond me?), not quite sure where it leaves any takeovers, but by the sounds of it, nothing will be happening immediatley anyway, and we *should* be in safe hands. Even if we do have to sell players to keep going (Note how SJM hasn't stated the money is coming from his own pocket, funding can be funding from many different sources after all, and the most likely one realistically still has to be player sales).

[Angry Shed Sex]

They own 51% of the ltd company so it is most likely they have the final say.

Board members = employees

Share holders = owners

That was my take on it. Therefore nothing really has changed.

[Wycombe Royal]

I'm no businessman but can someone clarify. AO, AZ and CS are no longer on the board which is quite clear. I assume they still own the 51% shares and still have a say in how they are sold off whilst not having any voting rights in running the club.

Is there any change in how negotiations proceed with regards selling the club or can the board that is left sell there shares however they feel best suits the club?

Basically the board will be the ones making all the decisions regarding the running of the club and it's sale, but they once they have accepted an offer they would need to gain the shareholders approval for it to go through. So ultimately TSI still have the final say.

[Angry Shed Sex]

So CS and AO don't take a wage anymore and arent employed by the club at all, but still own 51% of the club?

Have no idea what is going on! Presumably they've resigned (Although why they have done so considering their payouts is beyond me?), not quite sure where it leaves any takeovers, but by the sounds of it, nothing will be happening immediatley anyway, and we *should* be in safe hands. Even if we do have to sell players to keep going (Note how SJM hasn't stated the money is coming from his own pocket, funding can be funding from many different sources after all, and the most likely one realistically still has to be player sales).

That is clearly not what has happened.

You need to read the statement again.

[Royal Lady]

Oh - so it's not as good news as I thought. Boooo Booooo.

[Agent Balti]

So does this imply that the potential bids from Sagi and Burman have hit the buffers and now non-starters, by extension?

[Royal Lady]

So does this imply that the potential bids from Sagi and Burman have hit the buffers and now non-starters, by extension?

Wondering if Burman is still in, if the two idiots have left the board.

[Angry Shed Sex]

So does this imply that the potential bids from Sagi and Burman have hit the buffers and now non-starters, by extension?

In my mind nothing has really changed. The statement means little.

[melonhead]

Eventually

complete and constant openness is such a good business plan after all