A Load of Squit 5,135 Posted June 26, 2020 Does anyone know how many unallocated shares (I think it's the 'B' Preference ones) are available in NCFC? I've found an EDP story that says in 2010 there were around 300,000 available & at that time Delia & MWJ jointly owned about 330,000 shares. I'm not by any means familiar with the way these things happen but does that mean if an individual wanted to take a large stake in the football club they could buy all of the unallocated shares? I must stress that I'm talking theoretically, I'm not rich enough and I don't know anyone who is rich enough to buy the unallocated shares. Would appreciate it if someone with knowledge could let us know. Share this post Link to post Share on other sites
PurpleCanary 5,554 Posted June 26, 2020 22 minutes ago, A Load of Squit said: Does anyone know how many unallocated shares (I think it's the 'B' Preference ones) are available in NCFC? I've found an EDP story that says in 2010 there were around 300,000 available & at that time Delia & MWJ jointly owned about 330,000 shares. I'm not by any means familiar with the way these things happen but does that mean if an individual wanted to take a large stake in the football club they could buy all of the unallocated shares? I must stress that I'm talking theoretically, I'm not rich enough and I don't know anyone who is rich enough to buy the unallocated shares. Would appreciate it if someone with knowledge could let us know. I hadn't heard of this, but it may be true. If it is preference shares then it would be a way of putting money into the club but it wouldn't affect the ownership, because that is determined by the holdings of ordinary shares. S&J have something like 52 per cent of those, out of a total a bit north of 600,000. What is the case it that every so often the AGM gives the directors the right to issue up to, I think, one million new ordinary shares. One possible reason being that if the directors got a takeover proposal that was based on someone buying new shares to become the majority shareholder then that could be done quickly. Share this post Link to post Share on other sites
A Load of Squit 5,135 Posted June 26, 2020 7 minutes ago, PurpleCanary said: I hadn't heard of this, but it may be true. If it is preference shares then it would be a way of putting money into the club but it wouldn't affect the ownership, because that is determined by the holdings of ordinary shares. S&J have something like 52 per cent of those, out of a total a bit north of 600,000. What is the case it that every so often the AGM gives the directors the right to issue up to, I think, one million new ordinary shares. One possible reason being that if the directors got a takeover proposal that was based on someone buying new shares to become the majority shareholder then that could be done quickly. This is the story from 2010. https://www.edp24.co.uk/sport/norwich-city/mystery-over-seller-of-norwich-city-shares-1-716041 This the paragraph that has the details I was referring to The club’s annual report for 2009 showed that Delia and her husband, as joint majority shareholders, owned 327,309 ordinary shares and 3,025 B- preference shares. They each also owned 100 ordinary shares in their own names. People do get voting rights with the ordinary shares, but the attraction of the B-preference shares, of which there are 310,000 out there, is that they can pay a dividend. They only get a vote at general meetings should there ever be a resolution to wind up the football club. Reading it again it could mean that there are 310,000 B-preference share in total. But they don't count as part of the ownership as it's the ordinary shares that Delia & MWJ have 52%ish owned jointly? Share this post Link to post Share on other sites
