Thorpe Stephen

Lol - this gets more stupid by the second. How come posts like this dont get pulled???? At least it raises a smile for some I guess

Just hate ITV fullstop - worst mainstream channel (4 and 5 passed ITV many years ago) and worse than most of the main (ish) Sky channels (Sky 1, Virgin, Dave, etc etc) and even worse than ITV 2, 3 and 4. Harry Hill''s TV Burp is the only half good thing on and that is showing clips of other channels shows with a half decent comedians comments. Just hope that ITV never get the rights to any football in the future. (IMO)

Of course if Paulo already knows that the other stockbrokers in Norwich do not deal in Norwich shares due to previous companies decision then fine - obv. Paulo''s employer still deals in NCFC shares - but it is possible that one of the other stockbrokers has now changed it mind in dealing in the shares - but that is not a suspension in trading just a companies decision to not transact in them anymore.

Just to confirm any stockbroker can deal in Norwich shares.......... when I used to work for a stockbrokers it was more of a case if someone wanted to sell NCFC shares then the stockbroker would look to find someone who would want to buy them......as there is not really a liquid market but the stockbrokers would have a record of potentially intrested people (obv not Peter Cullums of this world and obv not for investment purposes) I can guess the company that Paulo works for etc but different stockbrokers/sharedealing services may take different views. EG. Barrett & Cooke may be happy to continue finding buyers for someone who wants to sell.....Charles Stanley I would guess probably would not be intrested full stop as it is probably to much hassle and they are not as locally orientated as B&C and N&P - someone like N&P (who may not want to deal in NCFC shares now anyway as they have moved over recent years just to trading in run of the mill stuff) may well have changed their mind as they may think it is to much "hassle"....... If anyone really wants to find out just phone them up and ask them if they will deal in your NCFC shares for them

Prob a Binner.... I am sure PC like everyone else can ignore the rubbish on these boards from people who do not understand business or his proposal back in the summer.

Sensible from our point of view that it is a loan move too. EG. Say he is worth 750k-1M - sensible for us to see how his injury holds up with a loan deal and the look at again in Jan - works both ways for Celtic too - we can both assess him and have a view what his true value is to them and us.

6 foot 3 inch and good in the air and good at link up play - fits the big target man image IMO. Probably not the one who can bash other players out of the way as much - but has got a bit of skill (just see the goal for Derby against Stoke on Youtube) 15-20 goals possibly - wonder why he dried up for Saints a bit - might say more about Southampton than Rasiak though.

Best - Millenium Worst - Selhurst Park by a mile what a sad mess of a ground - suits the team though. Grimsby was bad too - not able to see the goal from where I was - but no mention of restricted view - some weird way how they converted the stand from terracing i believe. Best fans - Norwich :-) Worst Fans - Ipswich (for obv reasons), Sheff U, Wolves, Derby (basically most midland clubs seem to have a largely than normal idiot fan base)

I dont want to keep on saying this but it needs to be rammed home it seems. Club worth £16m in assetts - Delia owns £9m (56%) - Other investors own £7m (44%) Club gains an extra investment of £20m Club now worth £36M in assetts - PC owns £20m (55%), Delia owns £9m (25%) others own £7m (19%) (OK dont point out this does not add up to 100% - rounding etc) The BIG BIG difference between PC £20m and Delia £9m and yours and my £7m is that the £20m is in cash and the rest is in fixed assets.........funny enough in the current climate the cash of £20m is probably worth more on future forecase £ to £ than the assets as most of the club assets are tied up in land, building which have decreasing value at the mo - we have very little assets which may increase in value (errrr - possibly Robert Eagle might be worth a fiver in ten years time if we are lucky!)

[quote user="KeelansGlove"] for me there are only two questions I want the answers to to understand this whole issue 1) Was Delia prepared to retain some shareholding in the club if Cullum came in, he made it clear he did not want to get rid of her and obviously understands the value of brand Delia to the football club. 2) Was Cullum prepared to negotiate at all on the concept of allowing Delia to sell a percentage of her shares. I can understand in either of these cases the other party would have a valid reason to walk away. [/quote] Good Questions! But a bit black and white - i am not sure we are talking percentages (and if so then it could be what % rather than 0% or 100%) e.g. I am sure Cullum would be happy to buy 1% of Delia shares - or 2% - but 30%, 50%, 60% etc???? when he does not want to buy Delia out by the looks of it and I am sure Delia would be happy to have a 1% holding but 30% etc etc again.

[quote user="milan marcus"] How is a minority stake in a football club worthless? I am sure the orginal minority investors in Google feel their shares are worthless. The facts I beleive are that at 49% the current shareholders stake in the club is worth far more than owning 100% of a club that cannot compete for a place in the Prem.  I think we all think we have a fair chance for a Premiership place with a £20 million investment.  What is a 49% share worth in a Premership club? Lets be very clear Delia has let bug of football get the better of her and wants control for controls sake.  This is clearly not aligned to the values of the fans in the stands and therefore when a few results go against us it will become very messy. [/quote] That is where it is very very difficult for Delia - it will become very messy when (not if IMO) results go against us. 9M of a club worth 16M in the Champ versus 9m (but reduced due to not being a majority) (25%) of a club worth £36m in the Champ - Delia current delima. Against a potential 25% stake in premier league club worth ?????????? - hard to say. If the prem league club is worth more than £36m (which it will be) then she is on to a winner.........IMO - but as other have said what is a minority stake in a football club really worth - Delia and the current regime have milked minority shareholders knowing that the voting(power) rights of the shares are not worth anything but happy to take the cash and playing on supporters loyality (probably not delibrately but this is what has happened)......not wanting someone else to be the majority shareholder just underlines the fact that she(and MWJ) think minority shareholders are only there to provide funds - not have a say in the football club. How can she expect investment when she is basically saying anyone who invests (who naturally will want to become a shareholder) has no say whatsoever on how that money is spent as she will not give up her majority and invest in the football club on the same terms she wants others to invest. Delia time is limited IMO - tick tock tick tock. However, in an ideal world I would love her to stay as an investor - but at the end of the day is what she doing anything different to what Chase did at the end of his time as Chairman(Owner/Shareholder) - Chase had the decency to go eventually...... (but only after fan pressure - lets hope Delia going is more amicable and she has a say as an investor - but not the majority shareholder in taking the club forward)  

So basically where there is a will there is a way (which is normally true of most things)...... No will from the Majority Shareholder at the moment so no way!!!!!

[quote user="T"]I think the 30% rule applies to related parties as well. [/quote] I am not 100% sure on that either way - but if true how come Michael and Delia have not had to make an offer to buy everyones shares at some point in the past as they clearly toghether have broked the 30% ruling. I cant remember any offer??!? Unless of course it is the other way around - e.g. everyone shares were purchased from M&D - but then surely any increase of M&D holding (Which has happened since more shares were in circulation to minor shareholders) did not trigger an offer to buy the rest. Not sure on that one.

Not sure a Put/Call option would work here - I know where you are coming from with regards to traded shares but how would this work when Norwich shares are not traded - I dont know. E.G. The Put option would need to be agreed by Delia/Cullim of a price she/he will be willing to sell/buy at - but if a price can be agreed for an option why not a price for a takeover. We could simply say Assets/Divided by number of shares is market price (e.g. £30) and if the assets go down and the share price goes below £25 then Delia has the right to action PUT option at circa £28 or something. But simply - I just cant seen Delia, Michael or PC agreeing to this. It is basically moving back to wanting a complete buyout which is not PC aim.

[quote user="T"] Its nice to see some very sensible reasoned comments on here. I think what PC wanted could be done by way of a new share allocation but the key point is that a minority interest in a football club without control has very limited value as it would be difficult to sell as who would want to buy a minority interest - not PC for one. We would all like to see a richer investor but the reported current PC offer was a little cheeky to say the least but I do not blame him for trying his luck or the current shareholder effectively telling him what to do as most people would with such an offer. [/quote] The real issue I have with this is that Delia/MWJ/The Board are looking for investment - persumably a minority investment so they remain majority shareholders - but how do they expect to obtain investment when they are basically saying that a minority shareholder is not worth the money that you pay for it (OK for lots of us we know this when we invested in the club on previous issues - but I assume they are looking for serious investors here.) - e.g. they are happy to have minority investors paying £30 (£25) per share but they are not happy being a minority investor as they dont think £30 (£25) per share is a true value for a minority holding.