Mark Attanasio

[wcorkcanary 4,337]

2 hours ago, The Real Buh said:

This is thread is like the anti-Quagliarella thread

nobody is having fun

Speak for yourself.

I admire the tolerance  being shown for one madmans constant rehashing of his own personal grudges. Watching his pathetic squirming amuses me for a few minutes  every day.  Without fail.  

[essex canary 506]

10 hours ago, GMF said:

And Mark Attanasio aiming to satisfy his desire for share purchases at £1.00 a pop… 

So let's do a Southend, a Northern Rock outcome for all the other shareholders except Tom who breaks even.

[The Real Buh 3,480]

Mark Attanasio is an American businessman and the principal owner of the Milwaukee Brewers, demonstrating a passion for both baseball and community engagement.

[shefcanary 2,456]

19 hours ago, Soldier on said:

Presumably once all this has been ratified we will hear more about the clubs future for all involved parties.

They promised to do this after the previous GM. But the TP / Waiver issue seemed to throw them. If nothing similar happens this time it will be extremely disappointing not to hear about future plans. 

[shefcanary 2,456]

Just watched Football Focus where Klem interviewed the new Gillingham owner, also American. His takeover happened very quickly.  Just saying ...

[GMF 757]

I’m blaming those who’ve voted “yes”. (Winks) 

[Google Bot 3,301]

Anyone know what's going on here then?

Has Attanasio got at least 75% of shares as per that doc? Or is it wrong?

Edited September 23, 2023 by Google Bot

[Midlands Yellow 4,079]

4 minutes ago, Google Bot said:

Anyone know what's going on here then?

Has Attanasio got at least 75% of shares as per that doc? Or is it wrong?

A ray of hope on a sh1t day. 

[nutty nigel 7,620]

Who is Edward Wynn Jones?

[Wings of a Sparrow 1,426]

Edward Michael Spencer Wynn-Jones.

Apparently 

[nutty nigel 7,620]

4 minutes ago, Wings of a Sparrow said:

Edward Michael Spencer Wynn-Jones.

Apparently 

Thank you.

[GMF 757]

19 minutes ago, Midlands Yellow said:

A ray of hope on a sh1t day. 

Attanasio has 75% plus of all shares, but most are non voting shares. 

[Midlands Yellow 4,079]

7 minutes ago, GMF said:

Attanasio has 75% plus of all shares, but most are non voting shares. 

I’ll pour another one then on that bombshell. 

[Unthink road 132]

Bin him off ASAP. PLEASE 

[Unthink road 132]

I would rather Bernard Mathews take over. Joking aside please do not vote for this takeover, we will be destroyed. 

[GMF 757]

Within all the focus of the capitalisation of a £4.8m loan, is anyone remotely interested in the £33m debt financing arrangement which expired at the beginning of September? 

[PurpleCanary 5,580]

4 minutes ago, GMF said:

Within all the focus of the capitalisation of a £4.8m loan, is anyone remotely interested in the £33m debt financing arrangement which expired at the beginning of September? 

Yes, GMF, me for one, and no doubt shef and others, not least because it's rather a big number! But unlike the £4.8m loan and its possible capitalisation it isn't something on which shareholders currently have a vote.

[GMF 757]

9 hours ago, PurpleCanary said:

Yes, GMF, me for one, and no doubt shef and others, not least because it's rather a big number! But unlike the £4.8m loan and its possible capitalisation it isn't something on which shareholders currently have a vote.

Phew! Nothing to see here then, let’s all just move on… 

[PurpleCanary 5,580]

As far as I can see there has not been an announcement yet today by the club but the Letter to Shareholders from the Independent Directors, which was part of the package published 21 days ago, has been amended:

This letter has been reissued following comments received by the Takeover Panel, dated 22nd September 2023. Thomas Smith cannot be regarded as an Independent Director and cannot vote on the Resolutions because he has a conflict of interest as the nephew of Delia Smith. Please note that the change is that this letter has been signed by Zoe Webber alone as the sole Independent Director. Please also note that the definition of “Independent Directors” in the Waiver Circular should be treated as being amended to “Independent Director: Zoe Webber being the Director of the Company who is considered, for the purposes of seeking the approval for waivers of obligations under Rule 9 of the City Code, to be independent of any Concert Party arrangements” and that any reference to “Independent Directors” in the Waiver Circular should be read as “Independent Director”.

[GMF 757]

Reinforces the point that you’ve made previously @PurpleCanary questioning the definition of independence directors.

Awaits the inevitable post from @essex canary…

[GMF 757]

Can’t imagine that it would make any difference to the outcome of voting, but I’m bemused by this, especially since there was extensive scrutiny of the documents before they were approved for release.

[shefcanary 2,456]

Weird - I can only think that the familial relationship between Tom and Auntie Delia was not explained fully first time, as his lack of independence jumped straight out of the page the first time I read the papers. I assume someone has alerted the TP (????), rather than them just reading this thread.

[hogesar 9,745]

45 minutes ago, GMF said:

Can’t imagine that it would make any difference to the outcome of voting, but I’m bemused by this, especially since there was extensive scrutiny of the documents before they were approved for release.

Was about to question this. Surely the basic facts I.e the obvious relationship between the "independent" directors were well known by the TP at the time? And if they weren't, why not? Surely that's...their job?

[It's Character Forming 1,166]

1 hour ago, PurpleCanary said:

As far as I can see there has not been an announcement yet today by the club but the Letter to Shareholders from the Independent Directors, which was part of the package published 21 days ago, has been amended:

This letter has been reissued following comments received by the Takeover Panel, dated 22nd September 2023. Thomas Smith cannot be regarded as an Independent Director and cannot vote on the Resolutions because he has a conflict of interest as the nephew of Delia Smith. Please note that the change is that this letter has been signed by Zoe Webber alone as the sole Independent Director. Please also note that the definition of “Independent Directors” in the Waiver Circular should be treated as being amended to “Independent Director: Zoe Webber being the Director of the Company who is considered, for the purposes of seeking the approval for waivers of obligations under Rule 9 of the City Code, to be independent of any Concert Party arrangements” and that any reference to “Independent Directors” in the Waiver Circular should be read as “Independent Director”.

Thanks Purple, it's got to be said this is embarrassing, it jumped out at people on here as weird when he was classed as independent, I'm very surprised this got through.

[PurpleCanary 5,580]

1 hour ago, GMF said:

Reinforces the point that you’ve made previously @PurpleCanary questioning the definition of independence directors.

Awaits the inevitable post from @essex canary…

Thanks GMF. My point was that neither Smith nor Webber should have been designated as independent. Smith for obvious reasons. But Webber is the NCFC executive who has been negotiating the plan/deal with Attanasio. It is absurd to then try to portray what she says about it as independent. As someone said to me, she is marking her own homework.

[GMF 757]

37 minutes ago, hogesar said:

Was about to question this. Surely the basic facts I.e the obvious relationship between the "independent" directors were well known by the TP at the time? And if they weren't, why not? Surely that's...their job?

I’d suggest an element of collective responsibility here.

The obvious observation is that Smith is a common name, so you can imagine it’s something that wasn’t blindingly obvious to the TP. However, you would have thought that the Club would have highlighted it too.

[GMF 757]

1 hour ago, shefcanary said:

Weird - I can only think that the familial relationship between Tom and Auntie Delia was not explained fully first time, as his lack of independence jumped straight out of the page the first time I read the papers. I assume someone has alerted the TP (????), rather than them just reading this thread.

Sorry @shefcanary, the thought of the TP reading this thread has tickled me, and we all know that the delay is down to them reading lengthy emails from @essexcanary - he tipped them off… (winks).

[Canary Wundaboy 1,360]

I cannot believe that this wasn’t picked up beforehand and, let’s be honest, the amendment does strike as a bit “tinpot”.

The entire process has been a bit farcical tbh. Questions have to be asked of the board and the legal advice they’ve received.

[Davidlingfield 63]

7 minutes ago, Canary Wundaboy said:

I cannot believe that this wasn’t picked up beforehand and, let’s be honest, the amendment does strike as a bit “tinpot”.

The entire process has been a bit farcical tbh. Questions have to be asked of the board and the legal advice they’ve received.

I am not remotely surprised. When you have Zoe Webber in charge, who has absolutely no experience of this type of work. She wouldn’t spot an independent director if they were stood in front of her (although it is made particularly difficult by the fact there aren’t any at our Club anyway).

[essex canary 506]

4 hours ago, GMF said:

Can’t imagine that it would make any difference to the outcome of voting, but I’m bemused by this, especially since there was extensive scrutiny of the documents before they were approved for release.

Delighted Tom's 104 shares including those bought at £1 a piece can't be brought to the table. Should we not have expected at least some of this extensive scrutiny to have been undertaken by the now Independent Executive Director singular? One down, one to go.