Author Topic: Aberdeen FC seeking private limited company status  (Read 799 times)

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Offline DantheDon

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Aberdeen FC seeking private limited company status
« on: June 07, 2019, 04:48:49 PM »
https://www.bbc.co.uk/news/uk-scotland-north-east-orkney-shetland-48555460



Offline ayrshire_don74

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Re: Aberdeen FC seeking private limited company status
« Reply #1 on: June 07, 2019, 05:02:28 PM »
funding is in place......
MR GRUMPY IS HERE

Offline afc1903mad

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Re: Aberdeen FC seeking private limited company status
« Reply #2 on: June 07, 2019, 05:04:22 PM »
funding is in place......

Yep, just needs to released.

Online manc_don

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Re: Aberdeen FC seeking private limited company status
« Reply #3 on: June 08, 2019, 03:51:16 AM »
So what does this all mean?  Can't same I'm particularly au fait with all this.  Is this a positive change?

Offline DantheDon

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Re: Aberdeen FC seeking private limited company status
« Reply #4 on: June 08, 2019, 05:56:05 AM »
So what does this all mean?  Can't same I'm particularly au fait with all this.  Is this a positive change?

I dont know, I'm hoping some Boffin will explain the implications? 

Offline afc1903mad

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Re: Aberdeen FC seeking private limited company status
« Reply #5 on: June 08, 2019, 09:29:11 AM »
Here’s my take on it.

A commitment appears to have been made for investment of funds.
One of those investment commitments appears to take the individual / group above the 30% threshold meaning under Public limited company, they must make an offer for the remaining 70%.
The individual / group do not intend to make such an offering, therefore the plan is to make the company a private limited company, thus negating rule 9 of the public limited city code.
There also appears that there is sufficient agreement amongst the major shareholders that this will be approved on July 2nd, allowing the secured funds to then be released.

So in summary, the money is there and this is a process to release within the required needed time.

Offline Ten Caat

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Re: Aberdeen FC seeking private limited company status
« Reply #6 on: June 08, 2019, 09:51:08 AM »
Putting it in simple terms....it saves any investor from having to do what career criminal King had to do at sevco a few months back (having delayed for over a year and as it turns out not enough shareholders were interested in selling anyway)

Online manc_don

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Re: Aberdeen FC seeking private limited company status
« Reply #7 on: June 08, 2019, 10:13:16 PM »
Cheers guys, that does actually sound quite positive  :thumbsup:

Offline RicoS321

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Re: Aberdeen FC seeking private limited company status
« Reply #8 on: June 09, 2019, 10:46:08 AM »
Putting it in simple terms....it saves any investor from having to do what career criminal King had to do at sevco a few months back (having delayed for over a year and as it turns out not enough shareholders were interested in selling anyway)

But for the same reasons though. Complete control of the club and zero transparency. I'm not a shareholder, but if I was I wouldn't vote for this. The only reason most AFC fans hold shares, I assume, is to allow them to exercise some sort of opinion and have some sort of ownership of part of the club. This dilutes that massively, making your valueless shares now worthless too. It's basically just another step towards allowing them to do what they like with our - the fans' - club. Anyway, Westhill, ken.

Offline donsdaft

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Re: Aberdeen FC seeking private limited company status
« Reply #9 on: June 09, 2019, 11:34:01 AM »
No Rico, you're wrong there min.

Makes no difference to that either way.

Fans buying shares did it for sentimental reasons, not to make any money.
Makes it a wee bit more difficult for them to sell their shares but they probably were never going to anyway.

Offline Slim

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Re: Aberdeen FC seeking private limited company status
« Reply #10 on: June 09, 2019, 12:17:26 PM »
Does that mean no more AGM’s, etc?

Offline donsdaft

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Re: Aberdeen FC seeking private limited company status
« Reply #11 on: June 09, 2019, 02:04:36 PM »
No no, AGM's will still be available for people who like to attend a 3 minute stiitch up.