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colneycanary

Delia and Michael...........

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Should step aside and offer to GIVE Peter Cullum 31% of their shares. It would still leave Delia and Michael 30% but it would give Mr Cullum the majority share he wanted and hopefully he would still be willing to put £20 million into the club for players. This way the debt would remain unchanged and would not have to be paid off straight away as the ownership has not really changed. If we acheived promotion back to the Championship and even after that to the premiership, the value of the shares would go through the roof and then Delia would be able to sell and get all her money back.

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[quote user="colneycanary"]Should step aside and offer to GIVE Peter Cullum 31% of their shares. It would still leave Delia and Michael 30% but it would give Mr Cullum the majority share he wanted and hopefully he would still be willing to put £20 million into the club for players. This way the debt would remain unchanged and would not have to be paid off straight away as the ownership has not really changed. If we acheived promotion back to the Championship and even after that to the premiership, the value of the shares would go through the roof and then Delia would be able to sell and get all her money back.[/quote]DREAM DREAM DREAM...DREAM DREAM DREAM DREAM...DREAM DREAM DREAM........IF ONLY MY FRIEND IF ONLY

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[quote user="colneycanary"]Should step aside and offer to GIVE Peter Cullum 31% of their shares. It would still leave Delia and Michael 30% but it would give Mr Cullum the majority share he wanted and hopefully he would still be willing to put £20 million into the club for players. This way the debt would remain unchanged and would not have to be paid off straight away as the ownership has not really changed. If we acheived promotion back to the Championship and even after that to the premiership, the value of the shares would go through the roof and then Delia would be able to sell and get all her money back.[/quote]With respect, no. I think what you mean is that Smith and Jones should give Cullum roughly half their shares, which is 31 per cent of the total shareholding, rather than 31 per cent of their shares.But the point is that even if they did that Cullum would not become the majority shareholder. He would only have 31 per cent, and could be outvoted by the other 69 per cent.However you are right to regard the debt as an important factor in the whole saga. Often overlooked by fans.

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I despair sometimes.

 

In what way is 31% a majority share????  Don''t the other 69% count? Even if PC was seriously interested in NCFC I doubt he''d be interested in that!!!

 

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Mr Carra - why do you despair? Are you aware of the intricacies of the shareholdings and loans? It doesn''t sound like it. Colnetcanary''s well intentioned suggestion could be a way to get a more wealthy investor in to the club, with a majority shareholding but without triggering the need to repay either the bank or directors'' loans which - crucially - would wipe out most of the legendary £20 million Cullum talked about investing. And besides, Cullum actually said he would still want Delia involved if he did take over.I think city-till-i-die is probably right and this is just a dream, but perhaps you could treat your fellow supporters with a little more consideration?

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But the point myself and Mr Carra were making (in a kind of good cop, bad cop routine) is that 31 per cent is NOT a majority shareholding, and Cullum said specifically he was only interested in majority control.

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The moment someones buys more than 30% of the shares, it becomes a take over and therefore will have to buy ALL the shares.This subject has been discussed before. That is the problem and a mojor hurdle for new investors.

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the moment there is any change of ownership (whether the shares are given away or sold), the debt becomes repayable (at least in theory - it could of course be renogitiated, although I imagine that might be a little tricky or involve higher interest than at present, owing to both NCFC''s newfound Div3 status and the willingness of anyone to lend lots of money at the moment), so this idea is doomed to failure.

in any case, if PCwas insisting on 51% of shares in exchange for putting 20 mill into a championship club, why would he accept 31% of shares in exchange for putting 20 mill into a league one club?

the fact is that PC is going to have to make an offer for the shares if he wants to buy the club. He never has done and still doesn''t want to do that, it seems, and whether you support the board''s hapless management of the club or not, it''s absurd to say that they should give away what they own for nothing. Cullum''s not coming back, so the sooner everyone forgets about him the better.

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[quote user="colneycanary"]Should step aside and offer to GIVE Peter Cullum 31% of their shares. It would still leave Delia and Michael 30% but it would give Mr Cullum the majority share he wanted and hopefully he would still be willing to put £20 million into the club for players. This way the debt would remain unchanged and would not have to be paid off straight away as the ownership has not really changed. If we acheived promotion back to the Championship and even after that to the premiership, the value of the shares would go through the roof and then Delia would be able to sell and get all her money back.[/quote]

 

Sorry Colneycanary but....

 

If Callum put in £20 million the debt would not remain unchanged.

 

The debt would have increased by £20m. 

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SI,

I don''t think that is technically correct. Yes, it would signal an offer to every shareholder.

However, sharholders can still refuse to sell and Peter Cullum would get whatever he can that might be 40% for example.

That is the way I have understood it anyway.

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[quote user="Jim Kent"]SI, I don''t think that is technically correct. Yes, it would signal an offer to every shareholder. However, sharholders can still refuse to sell and Peter Cullum would get whatever he can that might be 40% for example. That is the way I have understood it anyway.[/quote]

That is my understanding too Jim.

Maybe Cullum could end up with 60%+ doing it that way if other shareholders decided to give him the shares or sell him them for 1 pence?

Heavens forbid though with some of the numptys we have out there Delia would still manage to come out of it as majority shareholder and smelling or roses if it ever came down to such a head on confrontation.

The fans had their chance to back Cullum and pi$$ed it in to the wind by backing Delia last summer.

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The point i was trying to make is, if Delia gave Cullum half her shares plus 1% (51%) that would make Cullum the Majority shareholder at the club. He would own 31% of Norwich, Delia would still own 29% and the remanining 40% would still be owned by who they are now. This way Delia still owns a big slice in Norwich, so she hasn''t lost all her money, which she is in danger of doing so, if we went into administration. This also means NO change in ownership because Cullum would only have 31% of the club. With Mr Cullum''s £20 million into team rebuilding, the club good build a team that could lead us to back to back promotions. This would then mean the value of the shares would probably go up about 4 or 5 times. No one person would have overall control of the club like Delia does now but Cullum would be the majority shareholder!

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