Reply With Quoteisn't there a whole other thread about this?
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Assume that there are still a number of people around who subscribed in the share issue in Cardiff City Association Football Club Limited made in 2000 and which was touted as a means to raise money for new players.
Steve Borley was still the chairman at the time, and I think this happened literally a few months prior to Sam taking over. Between then and Tan's purchase the shareholding has been rolled over and diluted on a number of occasions and thus the "fans holding" is literally worthless - As was the case at the time, more an emotion that an investment
Have recieved written notification from the club in respect of 3 resolutions that are going to the vote come the end of the month.
1. Establishment of a new "A" ordinary share, and which in most limited company cases has preference over Ordinary or "B" shares. However in this case the resolution makes clear that both classes will rank pari passu - thus nothing untoward I assume ?
2. If I am reading this correct - the company is requesting the passing of a resolution that will increase the shareholding value of the nominal £0.01 share by upwards of an additional £45M.
3. I quote - " the directors be generally empowered to allot equity securities ( as defined in section 560 of the Companies Act 2006) pursuant to the authority conferred by resolution 2" . In most cases the securities will take the form of some debt and which ultimately will be attributed to the balance sheet of the club.
Would be interested to hear from any one else that has recieved this notification and what they believe is the motivation for such actions.
isn't there a whole other thread about this?
Many thanks for the link and the subsequent understanding of where we are on thisOriginally Posted by the other bob wilson
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