Reply With QuoteI got a letter as well.
Total gobbledygook to me.
Hopefully Keith can enlighten us and tell me whether I need to agree and send the document back or ignore.
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Looks like we are offering £45,000,000 of new shares, and our share value is down 90% ?
Is that correct ?
I got a letter as well.
Total gobbledygook to me.
Hopefully Keith can enlighten us and tell me whether I need to agree and send the document back or ignore.
Glad it's not just me then ! Doubt it's good news for small investors.Originally Posted by Michael Morris
Do you want to post it on here? I'm not a shareholder but would be interested to read it.Looks like we are offering £45,000,000 of new shares, and our share value is down 90% ?
Is that correct ?
Up to 'The Boss'! .... I don't mind.
Can’t understand a single word of that letter! Looks like they are issuing new shares with a nominal value of £0.01 having the same rights as ordinary shares with a nominal value £0.10 but no idea what that actually means!
There is an option to sign but not returning the forms means you dont agree - which seems unusual as not doing anything is probably the default setting of most of the small investors
Mike
We checked this morning and the Trust as a shareholder have not received a letter. I have chased up the club on this but, in the meantime, if someone can scan and post a copy of the letter on here I will be free later to comment on it
Keith
Last letter I had from Mr Choo was 2016 and because the majority shareholder had 89% the resolution was effectively passed. Like others I await being told what it all means and how rich I'm not:)
If someone could do that it would be great. I’m travelling this afternoon and I don’t have the letter with me
Yikes this means the club are trying to raise money, essentially this means current shareholders have been ****ed over badly short term. Long term if that £45m was spent on players to help with a premiership push then maybe the current shareholders can still make a profit.
But if I held shares in Cardiff right now I'd be PISSED.
edit: I didn't even know you could buy shares in Cardiff.
I wonder why the club might need money, does anyone know if we have any legal cases in the next few weeks?
Are they doing a rights issue to raise money?
As a share holder you’d hope not to lose out as you can usually buy shares at an issue price which should be lower than the market price, the overall share price will average down but you should end up with enough shares to not lose money. Not seen the letter though as only guessing.
This goes back to around 2001 when we stumped up some cash for Kurt Nogan in return for shares. I had mentally written my modest sum off about a year later....Still, would be nice to get something out of it apart from the occasional Cardiff City letter. I wish.
Think the Isaac case is very soon and we have the Sala one.I wonder why the club might need money, does anyone know if we have any legal cases in the next few weeks?
Oh and scrounging Sam's case.
If you PM me your e mail I'll send it over now
I might be wrong, but I think a former director is suing the club and/or its owner as a result of a previous dilution of his shareholding.
from this message boards point of view, Not sure a lot of the original fan share buy lot ( No-Goals-Nogan ) will have a lot of shares left by now, they have been diluted a few times ( from memory )
Yes, this is the basis of the Michael Isaac case. The issue of new shares has devalued his own holding. The problem here (as far as his case in concerned) is that any issue of shares must be voted through by the Board. So it's all legit - I can't see that he has a leg to stand on. Unless there's more to it than meets the eye....
This looks like the club trying to raise cash via outside investment. But it could also mean that Tan is going to swap debt for shares.
I'm thinking the asia based group that wanted to buy the club are now interested in buying shares in the club?
Same here!
I bought my shares many years ago but never expected to make any money out of it (and I haven't been surprised in that regard). At the time I equated it with giving money to a charity.
Same hereSame here!
I bought my shares many years ago but never expected to make any money out of it (and I haven't been surprised in that regard). At the time I equated it with giving money to a charity.
Steve Borley has replied on Twitter to say it’s debt to equity related to FFP:
https://twitter.com/stevecmb/status/...070909954?s=21
#Steve`s response is really strange because converting debt to equity has no impact on Profitability and Sustainability (FFP) compliance. It is a balance sheet adjustment which improves that balance sheet but has no effect on the profit and loss account which is what FFP is all about.
Despite the above misunderstanding , a debt to equity conversion should be very much welcomed as it is a return to the steps promised by VT to convert all his debt to equity which has been delayed by the impact of Covid over the last coupke of years.
So, good news in essence, but some clarification required?
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