Print

Please login or register.
1 Hour 1 Day 1 Week 1 Month Forever
Login with username, password and session length

[JTH]

I must say, I'm surprised you haven't waited until tomorrow to release this. I know life goes on, but very few people are going to pay this proper attention today.

Standard practice is for PRs to be issued the day before so they can be included in the following day's morning editions. It's why you often see 'embagro'd until 6am etc on them'. As the club has employed a 3rd party to handle the publicity I suspect they've followed accepted professional procedure and the PR is 'out there' anyway and the club would have no option but to issue it. I think it's reasonable to assume the PR was issued well in advance of the events which unfolded last night.

It clearly states that it will be sent this morning.

That's not the version the media outlets would get.

[ManagementGuru]

I thought long and hard about whether to delay the announcement this morning - you all would expect no less of me.  I was hamstrung by some extent by action that were already in progress, and some of the obligations it places on us as part of this process.  The intent was to ensure that information was made available to as  many as possible this morning, driven by the fact that the EGM letters had already been posted to shareholders.

That said, I was still contemplating a delay this morning until I heard Andy Burnham's speech.  The words that he said that increased my resolve to go ahead as planned were (verbatim) "We are grieving today, but we are strong. Today it will be business as usual as far as possible in our great city."

I accept that this may be an error of judgement on my part, but it was not a casual act. 

The tragic events of yesterday evening would rightly overshadow our announcement whenever we made it this week.  But what this means is that we will have an obligation to repeatedly publicise the investment opportunity at every appropriate moment over the coming weeks.  And that is what I commit to do.

[TheCultOfIanTunnacliffe]

More questions than answers really but I guess more info will come out when it's done through correct process at the EGM.

This looks to me like it opens the door officially for new people to come in, get something for their investment in terms of shares.

Hopefully the first steps to a change at the top and getting everyone back together for the common goal of getting promoted.

All this talk of "x has tried to put money in" etc is about to be seen if it's bluster or real.

From my initial reading of the documents, it appears that the shareholders are effectively being asked to endorse a (temporary?) takeover by the current board.

The board will then hold this majority shareholding until such time as a potential investor (of whom they approve) actually comes forward and applies to purchase those 117,000 shares.

My principal concern would be as to whether this 51% shareholding would then be suspended/dormant until they are issued to any new investor (i.e. the board wouldn't be able to use them at an AGM).

Any experts out there....?!

  


 

[York Alty is back]

Letter from the club today says in Resolution One that the shares to be be brought back will be transfeered into the name of Grahame Rowley, albeit temporarily.

I am voting against that.

[Mrs Warbouys]

Nobody has anything to apologise for, the wheels were already in motion and people would have found fault if one of the football only websites had carried this story today before being announced to the fanbase by the club. As for voting against a temporary transfer of shares, that's people's individual choice, but remember, those that met with the chairman at the end of the season aren't stupid.

[MadFrankie]

As for voting against a temporary transfer of shares, that's people's individual choice, but remember, those that met with the chairman at the end of the season aren't stupid.

Fair point Pete, but as a PR exercise this should be reconsidered. It's going to cause unnecessary grief, and this should have been anticipated.

[Frosty]

Rowley out

[RageAgainstTheFirstTeam]

I thought long and hard about whether to delay the announcement this morning - you all would expect no less of me.  I was hamstrung by some extent by action that were already in progress, and some of the obligations it places on us as part of this process.  The intent was to ensure that information was made available to as  many as possible this morning, driven by the fact that the EGM letters had already been posted to shareholders.

That said, I was still contemplating a delay this morning until I heard Andy Burnham's speech.  The words that he said that increased my resolve to go ahead as planned were (verbatim) "We are grieving today, but we are strong. Today it will be business as usual as far as possible in our great city."

I accept that this may be an error of judgement on my part, but it was not a casual act. 

The tragic events of yesterday evening would rightly overshadow our announcement whenever we made it this week.  But what this means is that we will have an obligation to repeatedly publicise the investment opportunity at every appropriate moment over the coming weeks.  And that is what I commit to do.

Cheers for the explanation, Bill.

[GB Alty]

This whole thing is one complete farce

Firstly I think the timing of this announcement is in bad taste, an absolute disgrace.

After that, what the f**k is this what we been waiting for, these 117,000 shares being signed over to Rowley and the current board. f**k that

[markecky2]

As Bill says this is just the first of many statements that will come out over the next few weeks.  The timing of it was mentioned in the first paragraph.

A shareholder would have put something on here today I'm sure as the letters were in the post. That would have then forced a statement at some point anyway.  "Aren't the fans important as well as shareholders?" would have been the comment I would imagine.

You choose how you react to it, whether you ignore or comment tomorrow or in the future. 

[JMF]

If you have an idea of how business and the transfer of shares work, then what is proposed in the short term is normal practise. My letter was posted out yesterday, the information therefore was already in the public domain. Nobody could anticipate what would follow last night. More information will most likely be made available after an EGM. Don't pick holes in what at first glance appears to be the club going up for sale and the chance for interested parties to come in and take the club forward.

[York Alty is back]

This whole thing is one complete farce

Firstly I think the timing of this announcement is in bad taste, an absolute disgrace.

After that, what the f**k is this what we been waiting for, these 117,000 shares being signed over to Rowley and the current board. f**k that

Having a pop at Mr. Rowley is spot on, but obviously  the letters were in the post yesterday afternoon.  The incident last night has taken over any press interest in the shareholding of a small foooty claub wallowing in the Evo-stik league.  Even without last night, barely anybody would give a monkeys anyway.

[York Alty is back]

Mr. Rowley out.

[Teasierbeaver]

Whilst i'm acutely aware of last nights awful events I dont think its fair to slate the club for pressing ahead with this. Some of the reactions on here just come across as bollocks rhetoric to me. I'm not really sure why there's people in the world who are so angry and so desperate to destroy each other but the fact is they exist and its bloody upsetting just to live in these times nevermind be touched by the actions of these people.

In the meantime the club had started a process we'd all been screaming for and the wheels were in motion, its right to stand up and move on, face the adversity and show it you're not at the mercy of this bizarre hatred of fellow human beings.

Now, the actual announcement, can only mean the club are buying back John King's shares and will seek a majority vote from the voting shareholders at this EGM to convert them to voting shares. I have very mixed feelings about this. It has to happen if we are to seek new investment, we simply cannot expect to get the type of investment we all dream of without that, no major investor would accept to own less than a controlling majority of the club without owning a majority shareholding as well. John King is also getting on in life and may not feel he has someone to pass this on to. On the whole surely this a real positive step, there's also the fact that a very reputable company has been brought in to manage the process of these shares being made available as an investment opportunity, very positive indeed.

Then there's the feeling I have that this could very easily turn a bit sour, but if the chairman is up to something here I just dont see whats in it for him? He cant enjoy the stick he gets from an ever growing % of our support, he cant have enjoyed seeing an empty stadium hosting the worst football team this club has ever fielded at the end of last season. He cant believe he isnt responsible for that? I want some assurances that those shares won't sit with the chairman or his associates for too long, a lot rides on the outcome of this EGM.

[Jezza]

I think the timing of the release is understandable and there is a business as usual argument as well so I have no beef with that....

everyone will deal with last nights events in their own way....but it seems distasteful to get into bickering about the content and implications on a day like this which is why I commented as I did hoping there wouldn't be any bickering today 

as l'homme said there's a feeling this could turn sour....lets hope it doesn't.