New Owner of the 75%

[marky No.1]

Newco 2017 Ltd, owned by Abdul, wonder if Jason and Colin know about this

[Bare Grills]

Is this the final play or the last nail in the coffin? Someone needs to ask these questions tonight, sadly I am unable to make it otherwise I would.

[Ntini]

Here we go again...

[Bare Grills]

Hints at a deal being done. Wonder what they've sold now? Nothing would surprise me.

[Gone_Shrimping]

In the "Who's Who" on the Morecambe FC OWS it was recently updated with the addition of the 2 new directors but still gave Abdul as being the beneficial owner.

[marky No.1]

In the "Who's Who" on the Morecambe FC OWS it was recently updated with the addition of the 2 new directors but still gave Abdul as being the beneficial owner.

Why were they on TV, as well as everywhere else, being interviewed as our "new owners", not Directors, when Abdul (G50, Newco) holds the majority shareholding?

[skyecat]

I wish I could make it tonight - I would like to hear the "new owners' " opinion of who owns what and is responsible for wages etc and what land is owned and what debts the club has etc.

[Bare Grills]

I wish I could make it tonight - I would like to hear the "new owners' " opinion of who owns what and is responsible for wages etc and what land is owned and what debts the club has etc.

The interesting questions won't be answered on the night. They'll be fluffed & delayed as the better ones have in the past.

[BerlinWaller]

I hope PMG and co are not let off the hook tonight. Can we all agree on the 1st question?

[Bare Grills]

Try playing director bingo.

Privileged answer.
That's for directors only.
Don't have that with us.
We need to look into that.
We'll get back to you.

[Ntini]

I'm sorry but I just don't buy this united front of "it's just legal paperwork" to move everything as far away from a Diego-tainted company.

The law around PSC registers was updated last June so that relevant information like this was updated throughout the year, rather than once a year as it used to be. This was done to make the public register more open and relevant.

The rules state that any change in a PSC must be updated on the company's register within 14 days and then they have a further 14 days to notify Companies House (28 days in total). We were told of the buyout on the 1st May 2018 so surely the new owners became PSCs on or around that date (especially when they are publically claiming to be the owners)?

The only update there has been on Companies House since Whittingham and Goldring 'took over' is that Abdul is now in control of 75% (or more) of the shares of the club via Newco 2017 Ltd. Note the timescales above and then look at the date that Newco 2017 became a PSC - 2nd July 2018. Also note that the PSC form states 'directly or indirectly'. It's about control and influence which these guys are clearly claiming.

It may be true that this is a legal manoeuvre to get the club shares out of G50 and into Bond Investments but as of the 2nd July, via the paperwork submitted, the owner of our football club appears to be Abdul. If Mr Whittingham and Mr Goldring are indeed the owners, why are they not listed on Companies House as PSCs via Bond Investments?

I'm also baffled at PMG being retained as Chairman especially given the recent financial problems under his stewardship. Add in the whole 'Board must resign' saga from the previous owner and him saying about selling up back in 2016 "I'm not going to do something that 12 months down the line leaves the club in a bit of a mess" and it seems a strange move.

I'd love to be wrong on this, but unfortunately I still think there's something more that hasn't yet come to a head...

[BerlinWaller]

I was slightly concerned when they claimed to have never heard of Joseph Cala. Something niggles me about him and the new owners.

[black morse]

This is a continuing pantomime. Every time we think we are moving into clear water....Oh yes we are!
Someone comes along and says...Oh no we're not!

[black morse]

I was slightly concerned when they claimed to have never heard of Joseph Cala. Something niggles me about him and the new owners.

I assume you are talking about the new owners never having heard of him, in which case it is possible that no one has told them about that side of it.

[BerlinWaller]

I was slightly concerned when they claimed to have never heard of Joseph Cala. Something niggles me about him and the new owners.

I assume you are talking about the new owners never having heard of him, in which case it is possible that no one has told them about that side of it.

I doubt that when they delved in to our murky past like they claimed last night, that the name Joseph Cala never cropped up.

[fulwoodshrimp]

I asked the question last night about Newco 2017 and then followed it up with a question about Abdul and Burnard. The reply was neither had any connections to the club now. Is this true?

[Bare Grills]

I asked the question last night about Newco 2017 and then followed it up with a question about Abdul and Burnard. The reply was neither had any connections to the club now. Is this true?

Read Ntini's excellent post above. Only days before the forum, papers were filed confirming Abdul owns 75% or more of the club via Newco. They should get Drinkwater to sponsor the main stand.

[marky No.1]

Muhammed Ali would have been proud of all the paper shuffling.

The Diego Al H shuffle beats all

[mrpotatohead]

The new guys seem like the real deal, and the explanation seemed credible, it's a shame none of the seemingly more company law "savvy" fans who come on here and Facebook could have been at the forum to ask more pertinent questions as even under mild scrutiny the chairman reverted to type, my only reservation is that PMG introduced them to the club and I really don't trust him at all.

[Westgate Wanderer]

You should love him, afterall he's the one who keeps giving out new contracts to the manager!

[Ntini]

The new guys seem like the real deal, and the explanation seemed credible, it's a shame none of the seemingly more company law "savvy" fans who come on here and Facebook could have been at the forum to ask more pertinent questions as even under mild scrutiny the chairman reverted to type, my only reservation is that PMG introduced them to the club and I really don't trust him at all.

I would have been at the forum were it not for commitments made prior to the forum being announced. I'm sure there's many more "savvy" than I on these matters, but what really frustrates me is that fans shouldn't need to be "savvy" to be treated with respect and given open and honest answers to good, well-intended questions.

[marky No.1]

Bond Investments are now owner of the 75%, so the paperwork shuffle has worked

[Bare Grills]

The new guys seem like the real deal, and the explanation seemed credible, it's a shame none of the seemingly more company law "savvy" fans who come on here and Facebook could have been at the forum to ask more pertinent questions as even under mild scrutiny the chairman reverted to type, my only reservation is that PMG introduced them to the club and I really don't trust him at all.

Wish I could have been there but I was washing my hair. Quite literally, at the time it started I reckon I was, a long long way away (Heysham)

[BerlinWaller]

Here is the 750k...

[Gone_Shrimping]

Here is the 750k...

That's what they promised at the Fans' Forum.

£750,000 invested in equity and not treated as a loan.