Related Party Transactions - N A Doncaster (not the payoff referred to in another thread)

[Tangible Fixed Assets anyone? 0]

Note 33, top of page 32 of the NCFC Plc Accounts to the 31st May 2009:

'' In September 2008, Norwich City Football Club Plc purchased 170 ordinary shares in Event Guard Limited from

N A Doncaster for £76,500.''

 

[Canary Man of Kent 0]

And?

[whoareyou? 0]

He really must think he has won the lottery.

I don''t think he would ever be welcome back at Carrow Road, at least by the supporters!

[The Fish Seller 0]

Wasn''t that just about three months before the deal with the Council was agreed? Now why would Neil be looking to offload 10''s of thousands of pounds worth of shares onto the club when a deal with the council must have been already past the preliminary stages?

[Canary Man of Kent 0]

I''m not a fan of Doncaster in the slightest, I think a lot of our problems are down to him frnakly.

However, I don''t see what the issue is here. We sold 74.9% of Eventguard in Jan 09, so we will have recouped the money spent on Doncaster''s shares. Furthermore, it makes good business sense to give shares in a co to those that are running it does it not? Good to keep the objectives of the business aligned with those of its employees.

[Bethnal Yellow and Green 1,557]

Maybe because Norwich were trying to buy up all the shares of Event Guard before selling it on to NCC? As we don''t know the details of the ins and outs of share purchases and sales it is useless to speculate about it. Who knows Doncaster might have made a lose on his shares.

[Canary Man of Kent 0]

[quote user="Buckethead"]Wasn''t that just about three months before the deal with the Council was agreed? Now why would Neil be looking to offload 10''s of thousands of pounds worth of shares onto the club when a deal with the council must have been already past the preliminary stages?
[/quote]

So that the council are buying shares off one party only, thus reducing costs alround? Or perhaps it was a stipulation of the council''s in the SPA.

[Canary Man of Kent 0]

[quote user="Bethnal Yellow and Green"]Maybe because Norwich were trying to buy up all the shares of Event Guard before selling it on to NCC? As we don''t know the details of the ins and outs of share purchases and sales it is useless to speculate about it. Who knows Doncaster might have made a lose on his shares.
[/quote]

Good lord, Bethnal Yellow and Green.....don''t let a lack of facts get in the way of an opportunity to bash the old regime!

Well said, I totally agree.

[Tangible Fixed Assets anyone? 0]

[quote user="SimonOTBC"]

 Furthermore, it makes good business sense to give shares in a co to those that are running it does it not? [/quote]

But not 25% !

[Canary Man of Kent 0]

 

But not 25% !

 

Do you know how Doncaster came to have those shares then? You talk as if you are in charge of all the facts, if so, please share them with us so we can make informed judgements based on them. As it stands, you are just speculating that he somehow screwed the club over the sale of Eventguard.