Shrimpsvoices

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.

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.

Can you see a supporters trust making any difference KenH?

mrpotatohead wrote: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.

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.

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.

mrpotatohead wrote: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.

mrpotatohead wrote: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?

Posh wrote: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.

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.