NIGEL ADAMS' SHAREHOLDING

[mrpotatohead]

As Nigel is sadly leaving tbe board, presumably unhappy, would it be a good idea for the fcom/trust commitee to convene an emergency meeting to dicuss purchasing his shares of MFC?

This would be a step towards a place on the board for a trust representitive , representing the fans, and If Nigel were to agree to staged payments , an achievable goal.

[KenH]

You don't need to be a shareholder to be a director.

Shareholders don't have the right to be a director just because they hold some shares.

I really can't see it making any difference to be honest.

[mrpotatohead]

Can you see a supporters trust making any difference KenH?

[KenH]

Can you see a supporters trust making any difference KenH?

Yes, I'm 100% behind a supporters trust, but it needs to be properly advised/supported by the professionals and have a plan. No use just buying some random shares in isolation.

It won't achieve anything just buying a minority shareholding with no rights. The rest of the board and the majority shareholder would always have a veto on any board appointment, so holding a few shares means nothing. You'd need 25% at least to be taken seriously - anything less and you've no real power nor influence.

Out of a total of 4 million shares, Nigel Adams owns 165,000, so less than 5%, meaning virtually no power nor influence.

[KenH]

And anyway, IF the club goes into administration/receivership, the limited company will probably be dissolved. It's likely that a new limited company (or similar separate legal entity) will be formed (by the new owners whoever they may be, such as the supporters trust or consortium of current/past directors), to lease the stadium from the freeholder (LCC?), buy any freehold land around it owned by MFC Ltd,. and take over the running the football club. A text-book "phoenixism" if you will where the new owners agree to "buy" the club from the administrators/receivers. In such an event, the new company will be a fresh start with a clean slate with prior debts etc wiped out. All previous directors/shareholders and debts will be irrelevant as that's the old defunct company.

[mrpotatohead]

Who said anything about ''power and influence'' a supporters trust will have none of these things anyway, a minor stake in the club , with a voice, eyes and ears, in board meetings, working with, and for ,the good of MFC is surelya good thing.

At the moment all the talk about administration is totally unfounded.

[Seasider9601]

As Nigel is sadly leaving tbe board, presumably unhappy, would it be a good idea for the fcom/trust commitee to convene an emergency meeting to dicuss purchasing his shares of MFC?

This would be a step towards a place on the board for a trust representitive , representing the fans, and If Nigel were to agree to staged payments , an achievable goal.

I'd donate a percentage of my shareholding towards this if it was the way forward.

[Posh]

At the moment all the talk about administration is totally unfounded.

On what grounds Lee? In your conversations with the ghost of JB Christie (who anyone with half a brain will realise is a director of the club) what has been passed on? Who is making up the shortfall in finances?

[Keith]

In your conversations with the ghost of JB Christie (who anyone with half a brain will realise is a director of the club)

WHAT?
Eh?
How do you mean Posh?

I think you are confused mate, it's not the ghost of JB Christie, it's a medium in Blackpool who's in contact with JB in the afterlife, definitely not a ghost.

[mrpotatohead]

Well the predictions have all been accurate , I believe it was actually in october that the ''spirit'' told you that they had no money, and in november that bad things would happen before january , and that a new chairman, sandgrown un' in place before spring, a director could not have predicted results, including the pitch problems at newport, and nobody getting any points though, I'm not taking any credit though, I have been told by JB tobstop showing off or he will feed me duff info.