Club announce General Meeting for February 13

[shefcanary 2,393]

33 minutes ago, Diane said:

So is anyone going tonight ? 🤣

The Board have tried to dissuade anyone from turning up. In their view it is just a formality, which will take less than 10 minutes, if that. For instance I've chaired GM's where the formal business has literally taken 30 seconds, with more motions than at this one. The only reason to attend is the non-formal explanation of what is actually happening, that will probably be delivered via an emailed press release anyway. Stand by your phones / PC's for that!

[Year of the tiger 54]

46 minutes ago, Diane said:

So is anyone going tonight ? 🤣

Yes Diane I know several who are attending. It could be a moment of history in the club & we are being asked to vote on something that has not been explained. Ok I know that any vote or abstention from a minor shareholder is irrelevant. 

[Mello Yello 2,289]

Isn't it all so very exciting!.....

[Capt. Pants 4,225]

1 hour ago, Mello Yello said:

Isn't it all so very exciting!.....

Isn't it just. It could and should be the start of an end to an era.

I wonder if Attanasio will turn up and stick around for the game tomorrow?

Edited February 13, 2023 by Capt. Pants

[essex canary 495]

2 hours ago, PurpleCanary said:

 

So there is the odd situation where the club has a fiduciary duty of fairness to shareholders who in most cases almost certainly don't mind if they are treated unfairly! But as you say, this oddity may not exist for too much longer.

Fair enough. By now it is distinctly possible that half have changed hands. Some of these people may be glad to pay their gas bill. If you are in for somewhat more and a growing family perhaps pay a chunk off the mortgage?

[TIL 1010 4,737]

3 hours ago, Diane said:

So is anyone going tonight ? 🤣

Day 6 of Man Flu has curtailed my attendance this evening unfortunately and the game tomorrow night will be the subject of a late fitness test. You women just don't understand.

[PurpleCanary 5,557]

16 hours ago, GMF said:

Previously, the only options were to vote either in favour, or against the resolutions, with no option to abstain. You will undoubtedly be cast as voting against.

Given that the first resolution is a general resolution, therefore requiring a simple majority, it is a formality.

The only meaningful reason to resist the second resolution is that the allocation price is unknown.

GMF, of course no-one is keener to know what that price will be than you and the boy Sainty. I hope you don't think anyone was taken in by the PR guff that the Canaries Trust was suddenly buying loads of shares to increase its influence on the club!

Somewhere along the way you got an insider tip about Attanasio (possibly a loose tongue🍾 at a race-track bar...) and decided to gamble the annual contributions of ordinary members such as myself on making a quick buck. In case of miscalculation I hope you have an escape route planned to a non-extradition haven.⛱️

[GMF 736]

3 minutes ago, PurpleCanary said:

GMF, of course no-one is keener to know what that price will be than you and the boy Sainty. I hope you don't think anyone was taken in by the PR guff that the Canaries Trust was suddenly buying loads of shares to increase its influence on the club!

Somewhere along the way you got an insider tip about Attanasio (possibly a loose tongue🍾 at a race-track bar...) and decided to gamble the annual contributions of ordinary members such as myself on making a quick buck. In case of miscalculation I hope you have an escape route planned to a non-extradition haven.⛱️

I’m liking your sense of humour! 😉 

[TIL 1010 4,737]

My source tells me 19 shareholders in attendance tonight excluding the top table.

Edited February 13, 2023 by TIL 1010

[GMF 736]

4 minutes ago, TIL 1010 said:

My source tells me 19 shareholders in attendance tonight excluding the top table.

Were there any inheritors present? 😉

[Greavsy 2,412]

 

[PurpleCanary 5,557]

7 minutes ago, Greavsy said:

 

The arguably historic point the EDP reports have missed before, and missed again tonight, is that if Attanasio does buy most or all of these shares then he is officially regarded as making a takeover bid and will have to make an offer for everyone else's. 

[shefcanary 2,393]

But what about the informal announcement of future plans? Anyone know if the plans were discussed at all? Ah well, I suppose I'll just have to wait and see what gets lodged at Companies House. Tum ti tum ...

Edited February 13, 2023 by shefcanary

[TIL 1010 4,737]

13 minutes ago, shefcanary said:

But what about the informal announcement of future plans? Anyone know if the plans were discussed at all? Ah well, I suppose I'll just have to wait and see what gets lodged at Companies House. Tum ti tum ...

My source says the meeting lasted 9 minutes from start to finish.

[shefcanary 2,393]

Just now, TIL 1010 said:

My source says the meeting lasted 9 minutes from start to finish.

I've read that in the Pink'Un app. But the meeting notice said further detail of future plans would be discussed after the formal meeting. Rather foolishly I thought that would be by way of a briefing after the formalities were completed. I appear to have got that wrong! It now looks like this will happen at some future indeterminate date?

[nutty nigel 7,528]

[PurpleCanary 5,557]

1 hour ago, shefcanary said:

I've read that in the Pink'Un app. But the meeting notice said further detail of future plans would be discussed after the formal meeting. Rather foolishly I thought that would be by way of a briefing after the formalities were completed. I appear to have got that wrong! It now looks like this will happen at some future indeterminate date?

Shef, I never saw the notice of meeting but I am surprised the club said there would be some briefing on future plans, especially since the club was saying how useless it would be for shareholders to turn up!

But anyway until someone/Attanasio buys these shares the club can hardly preempt that by assuming it will happen. And then it would really be up to Attanasio to explain what his plans are. Not least since he is likely then to have to be offering to buy all the rest.

EDIT. Just seen nutty’s update. What I suspect the club is talking about there is an update on the legal position if Attanasio gets to 30 per cent rather than any briefing on plans.

Edited February 13, 2023 by PurpleCanary

[stratton canary 134]

Just got to wait for the carefully worded statement from the club!  😏 

[GMF 736]

10 minutes ago, PurpleCanary said:

 

EDIT. Just seen nutty’s update. What I suspect the club is talking about there is an update on the legal position if Attanasio gets to 30 per cent rather than any briefing on plans.

I suspect that they will already have this lined up and ready to go. The two week deadline to allot the shares can be extended, if required. Watch this space.

[essex canary 495]

3 hours ago, PurpleCanary said:

The arguably historic point the EDP reports have missed before, and missed again tonight, is that if Attanasio does buy most or all of these shares then he is officially regarded as making a takeover bid and will have to make an offer for everyone else's. 

Have they also missed other shares that he has picked up? How about 194,512 New issue plus 98,200 Foulger plus 23,278 Pleasure and Leisure plus 10,219 Old Trust = 326,209 if correct just 900 less than S&J in Total with both parties holding just over 40%?

[GMF 736]

9 hours ago, essex canary said:

Have they also missed other shares that he has picked up? How about 194,512 New issue plus 98,200 Foulger plus 23,278 Pleasure and Leisure plus 10,219 Old Trust = 326,209 if correct just 900 less than S&J in Total with both parties holding just over 40%?

MF would have to retain at least 100 shares in order to keep his place on the Board. 

[cornish sam 951]

18 hours ago, PurpleCanary said:

GMF, of course no-one is keener to know what that price will be than you and the boy Sainty. I hope you don't think anyone was taken in by the PR guff that the Canaries Trust was suddenly buying loads of shares to increase its influence on the club!

Somewhere along the way you got an insider tip about Attanasio (possibly a loose tongue🍾 at a race-track bar...) and decided to gamble the annual contributions of ordinary members such as myself on making a quick buck. In case of miscalculation I hope you have an escape route planned to a non-extradition haven.⛱️

I hope you're looking forward to your new neighbour...

[PurpleCanary 5,557]

23 minutes ago, cornish sam said:

I hope you're looking forward to your new neighbour...

Of course, provided he passes my haven's entry test of his wealth being entirely illegally acquired...😍

[Diane 500]

14 hours ago, PurpleCanary said:

 I never saw the notice of meeting 

 

I remember you saying you didnt get notice of the AGM either Purple so would it be worth  checking they have the right address for you or if they dont perhaps send stuff abroad,  check they have the correct email address for you to send stuff electronically ?

[shefcanary 2,393]

Just now, Diane said:

I remember you saying you didnt get notice of the AGM either Purple so would it be worth  checking they have the right address for you or if they dont perhaps send stuff abroad,  check they have the correct email address for you to send stuff electronically ?

It's probably still attached to the pigeon Diane; with some of the storms between Norwich and Purple's tax haven, it's probably resting somewhere warm to recover and re-fuel. 😆

[king canary 7,603]

If Attanasio does buy the shares and cross the 30% threshold it'll be interesting to see what Delia and MWJ do. I'd assume they want to hang on to their shares but if they opted to sell it would be a huge moment.

[essex canary 495]

1 hour ago, shefcanary said:

It's probably still attached to the pigeon Diane; with some of the storms between Norwich and Purple's tax haven, it's probably resting somewhere warm to recover and re-fuel. 😆

If only they has  plugged the shareholding information into the same database as they use for membership and season tickets.

OK soon it won't matter but still a little unfortunate in terms of this process.

Edited February 14, 2023 by essex canary

[essex canary 495]

7 minutes ago, king canary said:

If Attanasio does buy the shares and cross the 30% threshold it'll be interesting to see what Delia and MWJ do. I'd assume they want to hang on to their shares but if they opted to sell it would be a huge moment.

The way I read it as soon as the touch paper is lit on what has already been agreed MA owns 50% plus and S&J 30% plus. Expect no further change other than whatever else MA acquires from minorities. My guess.

[PurpleCanary 5,557]

1 hour ago, Diane said:

I remember you saying you didnt get notice of the AGM either Purple so would it be worth  checking they have the right address for you or if they dont perhaps send stuff abroad,  check they have the correct email address for you to send stuff electronically ?

Thanks, Diane. i will check that. 

[PurpleCanary 5,557]

2 hours ago, shefcanary said:

It's probably still attached to the pigeon Diane; with some of the storms between Norwich and Purple's tax haven, it's probably resting somewhere warm to recover and re-fuel. 😆

Shef, my seminal work on the subject - "Is Your Island Far Enough Off Shore?" - is still available from all disreputable bookshops or direct from my "Only The Little People Pay Taxes" website.