essex canary 504 Posted March 31, 2022 48 minutes ago, shefcanary said: No Badger, it is effectively one share one vote, so I get 4, Delia and Michael jointly get 325,000 or so, but with the major caveat that this is if Table A of the model Articles of Association apply (which, as I have argued in the past, is not exactly clear)! This appears to be as clear as mud. At the AGM we vote based on a show of hands so nobody takes account of how many shares anyone owns. I doubt that the majority owners have come close to losing on the hand show but if they did, what would happen next? Perhaps a poll? The issues they refer to the AGM seem rather random with other decisions being taken in year eg. Away Membership. The whole Constitution is as clear as mud yet there are important issues such as ground ownership as identified in this thread. The football industry certainly needs the Crouch Report and that includes NCFC. Share this post Link to post Share on other sites
Jim Smith 2,325 Posted March 31, 2022 21 minutes ago, essex canary said: I got free home membership this year. If you ask for it you should get it as per item 8 of the Articles of Association. If only we were writing about a Cricket Club it would be so much easier. I've not read your ombudsman decisions before. Just had a read. Yes quite clear in there that they acknolwledge shareholders are entitled to free home membership. Interesting arguments on the away membership. I'm really cant remember but I find it hard to believe membership back in those days did not also bring with it some form of priority for away tickets ahead of general sale. Share this post Link to post Share on other sites
PurpleCanary 5,577 Posted March 31, 2022 6 minutes ago, essex canary said: This appears to be as clear as mud. At the AGM we vote based on a show of hands so nobody takes account of how many shares anyone owns. I doubt that the majority owners have come close to losing on the hand show but if they did, what would happen next? Perhaps a poll? The issues they refer to the AGM seem rather random with other decisions being taken in year eg. Away Membership. The whole Constitution is as clear as mud yet there are important issues such as ground ownership as identified in this thread. The football industry certainly needs the Crouch Report and that includes NCFC. The point is that if M&J vote for, or against, a proposal then by definition that represents a majority. It is arguable that sometimes it would be interesting to know how many shares were voted against, or for, but it would always have to be a minority. Share this post Link to post Share on other sites
essex canary 504 Posted April 1, 2022 16 hours ago, shefcanary said: Ah ha, yes, I can see what you mean now, as I have said not entirely clear. In that case not sure how I've lost free membership even if it is only for the promotional activity. I will ask ..... Let us know how you get on. Perhaps they should refund those you have paid in the past. The other issue here is there would be no problem if shareholding details were linked to our website accounts which could then issue the memberships automatically. 1 Share this post Link to post Share on other sites
CowboyCanary 37 Posted April 1, 2022 On 17/03/2022 at 00:24, dylanisabaddog said: According to the BBC there are 20 interested parties including one backed by Sebastian Coe. It made me wonder how much Norwich City would sell for and how much interest there would be. Based on other club sales I would guess the value to be around £150m so Smith and Jones are probably sitting on up to £75m worth of shares (before tax) . Bearing in mind the possibility that Government action and/or another relegation to League 1 could knock a big hole in that figure, they're taking a huge punt on maintaining control. There are two billionaires from Wyoming presenting bids to buy Chelsea. Wow, imagine, Wyoming could be owners of a Premier League Team. Each is part of two different groups in the proposed purchase. Maybe they could rescue Norwich City 🥺 Share this post Link to post Share on other sites
dylanisabaddog 4,965 Posted April 1, 2022 1 hour ago, CowboyCanary said: There are two billionaires from Wyoming presenting bids to buy Chelsea. Wow, imagine, Wyoming could be owners of a Premier League Team. Each is part of two different groups in the proposed purchase. Maybe they could rescue Norwich City 🥺 Sorry to disalusion you but the Russian is highly unlikely to sell to an American. Share this post Link to post Share on other sites
CowboyCanary 37 Posted April 2, 2022 9 hours ago, dylanisabaddog said: Sorry to disalusion you but the Russian is highly unlikely to sell to an American. I'm not disillusioned. Just stating what I read in the newspaper. Anyway, how much say does the Russian have in the matter? Share this post Link to post Share on other sites
dylanisabaddog 4,965 Posted April 2, 2022 5 hours ago, CowboyCanary said: I'm not disillusioned. Just stating what I read in the newspaper. Anyway, how much say does the Russian have in the matter? My understanding is that he decides who he wants to sell it to and then the Government makes sure he doesn't benefit from the sale. But I've been wrong before🙄 Share this post Link to post Share on other sites
Badger 2,407 Posted May 4, 2022 "The sale of Chelsea has hit a serious obstacle over fears that Russian-born owner Roman Abramovich is attempting to renege on his promise to write off a £1.6 billion debt." Article below (not behind paywall) https://www.thetimes.co.uk/article/8484d81c-cadf-11ec-b4b6-e30a321b8cd3?shareToken=4f6269317cca44ed38f8bd131ec2e988 Share this post Link to post Share on other sites
shefcanary 2,437 Posted May 4, 2022 (edited) 29 minutes ago, Badger said: "The sale of Chelsea has hit a serious obstacle over fears that Russian-born owner Roman Abramovich is attempting to renege on his promise to write off a £1.6 billion debt." Article below (not behind paywall) https://www.thetimes.co.uk/article/8484d81c-cadf-11ec-b4b6-e30a321b8cd3?shareToken=4f6269317cca44ed38f8bd131ec2e988 I thought he had no choice in the matter because he was sanctioned. Ultimately when things settle down, and assuming he does not go to war trials, wouldn't he be suing UK Gov not Chelsea or whoever? Edited May 4, 2022 by shefcanary Share this post Link to post Share on other sites
Badger 2,407 Posted May 4, 2022 1 minute ago, shefcanary said: I thought he had no choice in the matter because he was sanctioned. Ultimately when things settle down, and assuming he does not go to war trials, wouldn't he be suing UK Gov not Chelsea or whoever? The article says that the loans came from a Trust in Jersey, which presumably complicates things? Share this post Link to post Share on other sites
shefcanary 2,437 Posted May 4, 2022 Just now, Badger said: The article says that the loans came from a Trust in Jersey, which presumably complicates things? Nothing in life is straightforward! 🙂 Share this post Link to post Share on other sites
Mello Yello 2,298 Posted May 4, 2022 I've put an initial cheeky bid in of £23.75 for Roman's luxury yacht.....You don't ask, you never get.... Share this post Link to post Share on other sites
Ken Hairy 3,774 Posted May 4, 2022 So Chelsea go bust and 18th place gets a reprieve........ There's still a chance for us..... 😏😀😀 Share this post Link to post Share on other sites
hogesar 9,711 Posted May 4, 2022 11 minutes ago, Ken Hairy said: So Chelsea go bust and 18th place gets a reprieve........ There's still a chance for us..... 😏😀😀 Let's be honest, there still wouldn't be, even in LDC's eyes! 😉 Share this post Link to post Share on other sites
Ken Hairy 3,774 Posted May 4, 2022 14 minutes ago, hogesar said: Let's be honest, there still wouldn't be, even in LDC's eyes! 😉 Oh I guarantee if and when he hears Chelsea potentially going out of business, he'll be thinking it 😁 Share this post Link to post Share on other sites
sgncfc 1,237 Posted May 4, 2022 1 hour ago, Badger said: The article says that the loans came from a Trust in Jersey, which presumably complicates things? I'm not sure this article is correct. I believe that Jersey has also sanctioned his companies based there. He seems to indicate that being sanctioned means he cannot undertake any economic actions and his company/trust is therefore not allowed to write off the loan. It is also unclear how his shares will change hands and who will actually get the proceeds. Either way, this doesn't look like something that will be concluded quickly. Share this post Link to post Share on other sites
Badger 2,407 Posted May 4, 2022 3 hours ago, shefcanary said: Nothing in life is straightforward! 🙂 I think that if the govt were to take direct action against offshore trusts there's be a lot of worried spluttering amongst Tory MPs, donors and press supporters 😄 Share this post Link to post Share on other sites