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Donkey dangler

Can I buy NCFC ordinary shares for £1 each?

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Remember this:

http://www.norwich.vitalfootball.co.uk/forum/forums/thread-view.asp?tid=18548

So can any of us buy NCFC ordinary shares for £1 each rather than £100 of a year ago?

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There used to be a poster on here called Tangible Fixed Assets who was in regular correspondence with Companies House usually surrounding Form 228b but he got banned for being a Bolshie Budgie. He may have been able to help you with your question. Then again maybe you know him. [:D][;)]

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PRIMARK do dodgy black jumpers for a quid and pretty sure Head and Shoulders is available in 99p stores amongst other branded products. Their stock has fallen somewhat since Joe Hart moved to Italy.

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[quote user="Donkey dangler"]Remember this:

http://www.norwich.vitalfootball.co.uk/forum/forums/thread-view.asp?tid=18548

So can any of us buy NCFC ordinary shares for £1 each rather than £100 of a year ago?[/quote]Hmm! It''s definitely worth investigating.........Let''s start here.........http://services.pinkun.com/forums/pinkun-forums/cs/forums/3414622/ShowPost.aspxThe link leads us to the Vital Football site and a thread started by, as Tilly says, a poster called Bolshie Budgie.Now we all know "Bolshie Budgie" is Crafty Canary''s brother (I once posted a pic on here taken from the Jarrold stand wall) and Crafty verified it.We also know the infamous "Tangible Fixed Assets anyone?" is also Crafty''s bro.Conclusion......."Donkey dangler" is definitely the reborm "Tangible Fixed Assets anyone?".Welcome back Tangy, we''ve missed you. [Y] [:D]

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[quote user="lappinitup"][quote user="Donkey dangler"]Remember this:

http://www.norwich.vitalfootball.co.uk/forum/forums/thread-view.asp?tid=18548

So can any of us buy NCFC ordinary shares for £1 each rather than £100 of a year ago?[/quote]Hmm! It''s definitely worth investigating.........Let''s start here.........http://services.pinkun.com/forums/pinkun-forums/cs/forums/3414622/ShowPost.aspxThe link leads us to the Vital Football site and a thread started by, as Tilly says, a poster called Bolshie Budgie.Now we all know "Bolshie Budgie" is Crafty Canary''s brother (I once posted a pic on here taken from the Jarrold stand wall) and Crafty verified it.We also know the infamous "Tangible Fixed Assets anyone?" is also Crafty''s bro.Conclusion......."Donkey dangler" is definitely the reborm "Tangible Fixed Assets anyone?".Welcome back Tangy, we''ve missed you. [Y] [:D]

[/quote]

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[quote user="Crafty Canary"]Is that organ music I can hear? There are certainly plenty of monkeys dancing on here tonight.[/quote]

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Back to Tangy''s original question which he has now posted three times (once on Vital and twice on here), I quote as follows......."According to the Accounts that have just been published 200 ordinary

shares were issued for an average of £1 each with no premium. In the

previous year they were issued for an average of £100 each (i.e., the premium was £99 per share).

Given that there is a Fiduciary duty to all shareholders I am somewhat

surprised to see shares being issued for £1 each during the last

financial year. May be the board can explain this at the next AGM."
As I see it, Tangy is very unlikely to get the answers he craves either on here or on Vital so I suggest he (1) attends the AGM in person to ask the board directly or (2) he contacts the Canaries Trust who boast of "giving the fans a voice", to ask on his behalf.As ever, always happy to help.Lapps.

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I am actually quite interested to find out how this pans out. Are the £1 shares available to all and sundry or do only individuals with familial ties to current board members or those deemed "worthy" enough have the option to purchase them? If they are available to the general public how would I go about purchasing them? I ask this as I like the sound of owning two or three hundred shares in the club. Also, if I were to buy a couple of hundred £1 shares does that automatically guarantee me a seat on the board? If so who would I replace, Tom or Stephan?

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Sorry if I am being stupid but is the point the OP is hinting at here that the newly issued shares (presumably to Ball and nephew Tom) we issued for £1 which is much lower than any shares have previously been valued?

Personally I would like clarity as to who the other director is who is being paid. If a shareholder asks that at the AGM does anyone know if they are obliged to answer?

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"Iwan''s Big Toe" Also, if I were to buy a couple of hundred £1 shares does that automatically guarantee me a seat on the board?

As they purchased their shares after they joined the board I think the answer is no.

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I''d ask someone at the club. They were really helpful to me with turning my shares into a dynasty. I don''t think there''s anyone on here with the answers you''re looking for.

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To answer this question (about how these shares have been allotted) you''d need to look at the company''s articles of association, specifically the section dealing with the process for the allotment of shares.  The articles are a public document available via Companies House, although you''d probably have to shell out a few quid for a copy. 

 

Does anyone have a copy of the company articles ?

 

I am pretty sure this is a complete non-story so I can''t be bothered, but if someone else wants to get a copy and post the relevant section then we''d be able to answer the question.

 

Oh, and being a director has nothing to do with being a shareholder. 

The annual return filed at Companies House will show the shareholders.

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I don''t believe that there is any legal requirement to charge a premium when issuing new shares, its presumably at the discretion of the board?

I think though the point that is being made here is that not doing so is inconsistent with recent practice by the club (e.g. with the supporters trust or other fans who have bought in recent years) who had they bought the same amount of shares last year would have had to have paid £20,000 for them.

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when I say last year I mean in the previous financial year.

Once could take the view that this approach has reduced the number of shares that the supporters trust has been able to buy in the club whereas others have subsequently been able to pick up shares for a much lower price.

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That is precisely the point Jim. Why are the hoi polloi expected to shell out £100 per share but Delia''s relations and sundry cronies get them for a £1 a piece? You might think that a proud socialist like Delia would want to see the masses treated equitably. Nothing like the champagne socialists to do as they please.

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[quote user="Crafty Canary"]That is precisely the point Jim. Why are the hoi polloi expected to shell out £100 per share but Delia''s relations and sundry cronies get them for a £1 a piece? You might think that a proud socialist like Delia would want to see the masses treated equitably. Nothing like the champagne socialists to do as they please.[/quote]

Very ungracious, the politics of envy.

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[quote user="TCCANARY"][quote user="Crafty Canary"]That is precisely the point Jim. Why are the hoi polloi expected to shell out £100 per share but Delia''s relations and sundry cronies get them for a £1 a piece? You might think that a proud socialist like Delia would want to see the masses treated equitably. Nothing like the champagne socialists to do as they please.[/quote]

Very ungracious, the politics of envy.

[/quote]All Norwich City fans are created equal, but some are more equal than others.

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