New Board Director Confirmed - Mark Attanasio

[PurpleCanary 5,557]

54 minutes ago, essex canary said:

Well done to those who are going and who find it convenient to go. Let's hope for a good turnout.

The Club aren't exactly making it easy by encouraging people not to go and scheduling it for 6pm with no electronic facility. No consistency in their approach.

Will they provide a post event briefing? Probably not - at least that will be consistent with AGM practice.

At least by raising the questions on the proxy form there may be just a chance that they will pick up on issues in advance and discuss amongst themselves. If they get asked a difficult question at an AGM they tend to look at each other then get defensive because they have no conferring opportunity.

Perhaps the more information shared the better the outcome?

 

My pack hasn't arrived yet. I don't expect a briefing, or at least not one that goes beyond strict legalities. i think some fans expect an explanation of what Attanasio is going to do - is he buying these shares etc - but I would be very surprised if that happened.

If I was able to attend I would ask why has the redemption amount been set at an actual £10m when that seems to presuppose that the club knows someone is going to buy exactly £10m pounds worth of shares that have only a nominal value of £1 and could be sold in any number up to 10m and at any price.

[nutty nigel 7,528]

58 minutes ago, A Load of Squit said:

You have atrocious hand writing.

 

My teacher used to tell me to try using my other foot...

[wcorkcanary 4,334]

1 hour ago, TIL 1010 said:

Just think only a few more days of what ifs, buts and maybes before the meeting next Monday and then the questions from those who will not be there about what was said about XYZ and was there any mention of ABC etc. 😜

Us non shareholders are indebted to you for making it crystal clear Tillo, Merci. 

Do you think the Yanks would be interested in buying our family brick, which is there in perpituity or is this question more a matter for Ethics? 

[BigFish 1,986]

7 hours ago, essex canary said:

Rightly or wrongly I was interpreting investing for 'sentimental reasons' as meaning one would only expect to get back what was originally put in. From an accounting perspective £100 million seems far more reasonable.

Wrongly, shareholders often bought shares knowing there would be no dividend, no influence, no clear route to profit and a possibility that this so called investment could be wiped out. Why? A sentimental attachment to the club.

That there is a possibility of a nice return is a pleasant bonus, but I suspect most would rather keep the shares. For S&J the attachment is such that they want to move the club, now or in the future, to a safe haven that matches the amount of emotional investment they have made. Again sentiment.

In neither case, if the takeover happens, does sentiment prevent taking the cash value of a transaction that many will have no choice about. That is just plain stupid.

 

[GMF 736]

6 hours ago, essex canary said:

My submission attached.

Perhaps could ask for a glass of champagne at this year's AGM though not my cup of tea?

You do realise that resolution two is completely conditional on resolution one passing? Resolution one will pass, because it requires a simple majority, whereas resolutions two and three requires a 75% vote to be passed. 

[corbs 147]

I obtained shares, partly out of sentiment but mainly to assist the removal of Mr Chase. 

[Diane 500]

The Trust have asked for clarification of the documents before the meeting on Monday for all of us who dont understand them

https://mailchi.mp/d6eb5ffe7616/thoughts-from-the-treasurer-ahead-of-general-meeting

 

Edited September 8, 2022 by Diane

[Greavsy 2,412]

1 minute ago, Diane said:

The Trust have asked for clarification of the documents before the meeting on Monday for all of us who dont understand them 

https://twitter.com/canariestrust/status/1567588900587143168?t=rj8O198RhTTteEJBEBaD-Q&s=19

 

https://mailchi.mp/d6eb5ffe7616/thoughts-from-the-treasurer-ahead-of-general-meeting

 

 

 

[A Load of Squit 5,161]

Is there a last posting day?

Will the voting window 'slam shut'?

Is a proxy vote the same as sending your shares out on loan?

 

Edited September 8, 2022 by A Load of Squit

[Greavsy 2,412]

4 minutes ago, A Load of Squit said:

Is there a last posting day?

Will the voting window 'slam shut?

Is a proxy vote the same as sending your shares out on loan?

 

can shareholders children vote? 

[GMF 736]

48 minutes ago, A Load of Squit said:

Is there a last posting day?

Will the voting window 'slam shut'?

Is a proxy vote the same as sending your shares out on loan?

 

Proxy’s need to be submitted to the Company Secretary by 17.00 tomorrow. 

[A Load of Squit 5,161]

2 minutes ago, GMF said:

Proxy’s need to be submitted to the Company Secretary by 17.00 tomorrow. 

Even out of contract Proxy's?

[essex canary 495]

21 hours ago, GMF said:

You do realise that resolution two is completely conditional on resolution one passing? Resolution one will pass, because it requires a simple majority, whereas resolutions two and three requires a 75% vote to be passed. 

Indeed. Given that, as you imply, Resolution 1 will almost certainly pass despite my opposition, I then wish to support the conversion to Equity - Ordinary Shares at the earliest opportunity. 

Seems chronological to me, then again accept  there is plenty of scope for misunderstanding. 

[essex canary 495]

On 07/09/2022 at 12:46, PurpleCanary said:

My pack hasn't arrived yet. I don't expect a briefing, or at least not one that goes beyond strict legalities. i think some fans expect an explanation of what Attanasio is going to do - is he buying these shares etc - but I would be very surprised if that happened.

If I was able to attend I would ask why has the redemption amount been set at an actual £10m when that seems to presuppose that the club knows someone is going to buy exactly £10m pounds worth of shares that have only a nominal value of £1 and could be sold in any number up to 10m and at any price.

Therefore the real meaning can only be expressed by quoting actual values rather than nominal values both for ordinary and preference shares. If that goes beyond strict legal requirements then perhaps so be it? Given the professed nature of the Club, maybe that shouldn't be a big ask? Albeit that it seems to be.

[PurpleCanary 5,557]

1 minute ago, essex canary said:

Therefore the real meaning can only be expressed by quoting actual values rather than nominal values both for ordinary and preference shares. If that goes beyond strict legal requirements then perhaps so be it? Given the professed nature of the Club, maybe that shouldn't be a big ask? Albeit that it seems to be.

But even if the C preference shares had a real as opposed to a nominal value, and that value was expressed, it still would not help being precise about the actual redemption payment because you would still not know how many shares the person concerned had bought at £1 or £30 or £100 or whatever. 

An obvious answer is that these articles have been drawn up on the expectation or even knowledge that it is Attanasio - and perhaps only Attanasio - who will be buying these shares and it is expected or known that he is buying exactly £10m worth. In other words these articles relate to one transaction.

[A Load of Squit 5,161]

I suppose the question now (as he's presumably going to get a positive result on Monday) is how soon will we see MA at Carrow Rd?

How much media will he be doing?

Could be for a game or will he wait until the AGM in November?

[The Raptor 1,205]

42 minutes ago, A Load of Squit said:

I suppose the question now (as he's presumably going to get a positive result on Monday) is how soon will we see MA at Carrow Rd?

How much media will he be doing?

Could be for a game or will he wait until the AGM in November?

A game around the AGM in November would be my guess. The baseball season will have finished by then too.

[BigFish 1,986]

21 hours ago, Diane said:

The Trust have asked for clarification of the documents before the meeting on Monday for all of us who dont understand them

https://mailchi.mp/d6eb5ffe7616/thoughts-from-the-treasurer-ahead-of-general-meeting

 

Having read this I don't think it has any more clarity than that provided by the club. What prevents the actual letter to the club being published alongside?

Should any of the resolutions fail it would be an example of major incompetance. I assume therefore that the major shareholders assume the 75% is in the bag and all will pass. The alternative is they are happy for some to fail in order to make a point. Either way a decision has been made on the level of engagement. I suspect this is a sign of the future direction so we better all get used to it.

[shefcanary 2,393]

19 hours ago, PurpleCanary said:

An obvious answer is that these articles have been drawn up on the expectation or even knowledge that it is Attanasio - and perhaps only Attanasio - who will be buying these shares and it is expected or known that he is buying exactly £10m worth. In other words these articles relate to one transaction.

Exactly my conclusion on all this.  There is only one game in town .... 

[Big Vince 318]

On 05/09/2022 at 22:24, wcorkcanary said:

God, you really are stupid, the glass ceiling is between 17th and 18th , not 19th and 20th.  Are you actually a sentient being? . 

You are wrong. For Norwich City the glass ceiling is between 19th and 20th. When was the last time Norwich were competitive enough to even finish 18th? And the EPL has only got stronger and moved further away from this club's ability to compete since then. Norwich have failed to move with the times and are wedded to a financial model which looks quainter with every passing season. Attanasio is not the answer as anyone chosen by Delia to come aboard will have the same values which have made the club uncompetitive in the top flight.

[Big Vince 318]

On 08/09/2022 at 09:21, corbs said:

I obtained shares, partly out of sentiment but mainly to assist the removal of Mr Chase. 

What a bad move that was.

[wcorkcanary 4,334]

22 minutes ago, Big Vince said:

You are wrong. For Norwich City the glass ceiling is between 19th and 20th. When was the last time Norwich were competitive enough to even finish 18th? And the EPL has only got stronger and moved further away from this club's ability to compete since then. Norwich have failed to move with the times and are wedded to a financial model which looks quainter with every passing season. Attanasio is not the answer as anyone chosen by Delia to come aboard will have the same values which have made the club uncompetitive in the top flight.

Sorry Vince, patronize a Cretin week was last week. Try again next year.

[PurpleCanary 5,557]

30 minutes ago, Big Vince said:

You are wrong. For Norwich City the glass ceiling is between 19th and 20th. When was the last time Norwich were competitive enough to even finish 18th? And the EPL has only got stronger and moved further away from this club's ability to compete since then. Norwich have failed to move with the times and are wedded to a financial model which looks quainter with every passing season. Attanasio is not the answer as anyone chosen by Delia to come aboard will have the same values which have made the club uncompetitive in the top flight.

Well that sure is one way of making it absolutely clear you do not have the faintest idea what is going on here...

[Graham Paddons Beard 2,429]

1 hour ago, shefcanary said:

Exactly my conclusion on all this.  There is only one game in town .... 

Agreed . As I said earlier this is the only conclusion to be drawn I would say. 

[A Load of Squit 5,161]

1 hour ago, shefcanary said:

Exactly my conclusion on all this.  There is only one game in town .... 

Solitaire? 

[Graham Paddons Beard 2,429]

2 minutes ago, A Load of Squit said:

Solitaire? 

Yes but where does every road take you ? 

[Big Vince 318]

2 hours ago, PurpleCanary said:

Well that sure is one way of making it absolutely clear you do not have the faintest idea what is going on here...

It is very amusing that you and others are spending so much time and getting so vexated in counting the number of angels dancing on the end of a pin when the net result will be that nothing changes at the club. Attanasio is not going to transform the club into Man C even if Delia gives him the club on a platter.

[Bert 236]

Anyone with insomnia just needs to read this thread 

[corbs 147]

Everything always changes, haven’t we all accepted that

[essex canary 495]

On 09/09/2022 at 07:31, BigFish said:

Having read this I don't think it has any more clarity than that provided by the club. What prevents the actual letter to the club being published alongside?

Should any of the resolutions fail it would be an example of major incompetance. I assume therefore that the major shareholders assume the 75% is in the bag and all will pass. The alternative is they are happy for some to fail in order to make a point. Either way a decision has been made on the level of engagement. I suspect this is a sign of the future direction so we better all get used to it.

I am sure they will deliver the 75% shareholder by value with 0.1% of the shareholders by numbers.