shares

[gertcha EFM]

Private Limited Companies

 

Some info here on Private Limited Companies.

[JKiF]

cheers fellas

 

well im off down the booza for the rest of the arvo

caus e im such a great worker

 

 

more info req. come monday

[AFF]

I think you will find that Buzz Lightyear sold his 80% shareholding in the company that is St Albans City F.C. to William Verry Ltd. for £1.

 

[before anyone applauds the generousity of the former Chairman for letting such a valuable asset slip through his fingers for such a small sum, the company had debts which I would estimate to be £100,000 or thereabouts. Don't bother to make me laugh at his 'writing off of significant loans', either.]

 

There were 100 shares in the company at that time. Paul Hawkins held 10 shares and Paul Farmer and Leigh Page each held 5.

 

I have had no reason to check at Companies House but I would not be surprised if a large number of shares have since been issued by the company such that the 20% holding by those three individuals has been reduced to a much smaller percentage. I have no reason to doubt that, if that action has been taken, there will have been a good reason for it.

 

If anyone wishes to buy the existing shares, then an approach should be made to those what own them. A word of warning, however. You might have a warm and fuzzy feeling by owning a few shares in 'the club', but that's about all you will get. 51% would be an appropriate number in order to control the company.

 

Zealster queried the basis of Gibbo's 'control'. The major shareholder is William Verry Ltd. It will have appointed Directors of the company to manage it's affairs. You will probably find that Gibbo was formally appointed Chairman of the company and, therefore Chairman of the Club. He will remain in that position for as long as he has the faith and trust of the majority of the shareholders [William Verry Ltd.] I have had no reason to check but I believe that Gibbo is the Chairman or Managing Director of William Verry Ltd, and is the owner of a significant number of shares in that company.

 

You might try an approach to Gibbo direct. Let me know how you get on.

 

That will be 2,500 guineas. My fee account is in the post.

 

`

[The Caretaker]

Quote:

They are worth all of the assets divided by the number of shares plus any profit that they can make. So for instance if there was one share (£1), and the ground was worth £10 then the real value of the shares would be £10+.

 

Right lets explore this a little further .........there are 50,000 shares ....and the assets are... the ground ... council owned, leased on a peppercorn rent (not sure what value that has but I imagine not a lot with the state the ground is in) ... the value of any players who would command a fee ( sweet f a here then) ... kit and equipment .. mostly second hand now, not worth more than a few quid.

 

So the clubs net worth is practically nothing, making each share worth the same ....but .....if the club owned its own ground ......

 

.... was that the sound of a few dropping pennies, keep up chaps we've been on about it for long enough now.

 

YBsoulmaster efm boss ..... just think if the company that carries out any proposed development and then finds itself lucky enough to ... say ... own part of that development..... a football ground for example ..... I think the profit plus the value of that asset could well double your estimate. Not a bad investment as you rightly say <img src="/forum/images/graemlins/wink.gif" alt="" />

 

Where do I sign up .......

 

Incedentally, what interest do the other directors, A. McMillan, S. Friend,

B. Chippington (any more ?) hold ... I assume they have paid for this privilege

[YB941 5thD EFM ~soul~]

Once Gib$on owns the (new) ground, that's when we're in real trouble.

 

At the minute, while the council owns the ground, any chairman would not be able to sell it for a quick buck.

 

Once Gib$on owns the ground, he can sell it at any time for someone to build a block of Yuppie Apartments on it. Didn't this happen at Enfield. Where are they now??

 

I do wish the freeloaders who stick up for Gib£on - they know who they are - would try and see the whole pie.

[The Lyrical Tarantula]

No chance!

 

I can think of only one fan out of all them freeloaders who we would probably see again if the meal ticket was withdrawn!

[AFF]

Hi CT.

 

[Apologies for the delay in posting my earlier message, by the way. Someone telephoned me in the middle of it.]

 

The only comment that I can add to your post is that the names you mention at the end of your post are members of the board of 'The Club'. I don't believe that they are directors of the company, St Albans City Football & Athletics Company Ltd.

 

Also 'on the board' are Karen Gibson, Leigh Page, & Greg Healy.

 

No additional fee for that. Have it on me as a gesture of goodwill.

[YB941 5thD EFM ~soul~]

Let us not forget - Gib$on, despite being a local man, had never even watched the Saints before Verry bought the club.

 

Too many people kid themselves that he was the saviour.

[Guest]

Excuse my ignorance on these matters, but what exactly do these share mean?

Do shareholders own the club?

Do shareholders own the ground?

Do shareholders own the contracted players?

Where did the shares come from that give them the right to own anything?

 

I look forward to some intelligent answers!

 

HL

[Guest]

When you set a company up, you purchase shares in them. You can set up as many or as few as you like. These shares are then used as the controlling interest.

Shareholders own the company, therefore if the company owns the ground etc, then shareholders do.....

 

Hope this helps you!

[SteveP]

Something that may help:

 

http://www.supporters-direct.org/englandwales/about.htm

 

Supporters Direct exists to:

Promote and support the concept of democratic supporter ownership and representation through mutual, not-for-profit structures

Promote football clubs as civic and community institutions

Work to preserve the competitive values of league football in the United Kingdom and promoting the health of the game as a whole

 

In order to promote and achieve this, we work to bring about the following objectives:

 

The Formation of Supporters’ Trusts as IPSs to ensure democratic, transparent representative bodies for supporters at their clubs

The democratic representation of Supporters’ Trusts on Football Club Boards

The ownership of shares in clubs by Supporters’ Trusts and the pooling of individually held shares in a club under the influence of the Trust

[AFF]

Thanks for that SteveP. The Committee of our Supporters Club is looking into the range of issues surrounding the formation of a Supporters Trust via Supporters Direct.

 

As your post states, the ownership of shares is just one of a number of roles where a Trust can be of benefit. That pre-supposes, of course, that it is able to acquire shares in the first place!

[JKiF]

cheers steveP ;_)

 

on a similar wavelength (again)

[Iron Webbo]

Peter said: “I think you will find that Buzz Lightyear sold his 80% shareholding in the company that is St Albans City F.C. to William Verry Ltd. for £1.

[before anyone applauds the generousity of the former Chairman for letting such a valuable asset slip through his fingers for such a small sum, the company had debts which I would estimate to be £100,000 or thereabouts. Don't bother to make me laugh at his 'writing off of significant loans', either.]

There were 100 shares in the company at that time. Paul Hawkins held 10 shares and Paul Farmer and Leigh Page each held 5. ...”

 

Good morning Gentlemen.

 

For the sake of clarity, the following may be of historical value.

 

1. The 80% share-holding I had in the company was not sold, but given away. You know me folks - never looking for personal gain (that we could all say that!)

 

2. As to the debts, they were, in February 2002, about the same as I inherited in January 1998 and that lack of progress is a disappointment. But I am pleased that the second CVA that I put in place to clear the company’s debts once and for all was completed successfully.

 

3. As to the loans, even the company’s accounts for 1998-2002 include the directors loans account and I believe my contribution to keeping the Club alive during those four years to be circa £320k (no laughing matter!). No doubt some will not agree with my figures, but that is their prerogative.

 

4. I am surprised about the share issue/allocation that has taken place since 2002. When I took over the company and debts from Tominey and Mitchell in 1998, I owned all 100 shares. I subsequently gave 10 to Paul Hawkins and ‘sold’ five each to Lee and Paul, but those sales were never completed. I am no expert on company law, but i wonder if the other 20% shareholders had the opportunity of increasing their share-holding pro-rata when the additional shares were issued and/or authorised.

 

5. I am now firmly of the opinion that no one person or entity should ever own the majority of shares in a football club. It is not healthy. Peter Lewis’s suggestion to me in 2001 that there should be half a dozen or so share ‘owners’ each having 15-20% share holding is the way forward. Perhaps the man does know what he’s on about after all!

 

Buzz!