bs1982 22 Posted May 16, 2012 Share Posted May 16, 2012 Can anyone explain what happens with Dave King's shares in regards to agreeing a CVA please?Green's consortium acquired about 85% of the shares from Whyte for a pound or two allegedly. Then they proposed putting £8.5m cash into the CVA pot. Does King have to match their investment into the CVA pot on pro rata basis of his shareholding which would add about another million pounds for the creditors? If not are his shares diluted at all by the CVA process or do they simply remain unchanged? Quote Link to post Share on other sites More sharing options...
Skelf 1,153 Posted May 16, 2012 Share Posted May 16, 2012 You make a very valid point mate. I wonder if they will try and get kings shares also Quote Link to post Share on other sites More sharing options...
j1mgg 3,766 Posted May 16, 2012 Share Posted May 16, 2012 It wouldnt amaze me if Dave King was one of the investors, or at least already talked to Green as being a part of this. Quote Link to post Share on other sites More sharing options...
1873bear 192 Posted May 16, 2012 Share Posted May 16, 2012 What happens to all the other shares? Like the normal punters. Quote Link to post Share on other sites More sharing options...
Blue Army Faction 28 Posted May 16, 2012 Share Posted May 16, 2012 I thought if anyone bought a controlling interest in a company, they had to offer to buy all the other shares as well, although the holders don't have to sell. Quote Link to post Share on other sites More sharing options...
Gerwelly 115 Posted May 16, 2012 Share Posted May 16, 2012 I was thinking the same thing the other say. King has been vey quiet since he teamed up with Ellis to try and get Whyte to let his shares go. Quote Link to post Share on other sites More sharing options...
Alwaysblue 709 Posted May 16, 2012 Share Posted May 16, 2012 Never mind King's shares - what about mine? Quote Link to post Share on other sites More sharing options...
3Proddie1690 132 Posted May 16, 2012 Share Posted May 16, 2012 The Dave King question is a strange one as he is currently serving a restraining order which effectively bans him from dealing in property within the UK.. I've no idea how this would relate to his share holding or any future investment he may want to make in the club or indeed if this prevents him from selling his shares should he wish to do so.. Quote Link to post Share on other sites More sharing options...
Spacecowboy 92 Posted May 16, 2012 Share Posted May 16, 2012 I'm sure that cause the club was bought for a nominal amount (ie £2 of 85%) the rest of the shares would be worthless if bought at that scale, meaning they would have to offer if they where buying at full market value, but you're not going to buy 85% for £2 and then spend say £500,000 for the other 15% (figures only for illustration and not accurate) Quote Link to post Share on other sites More sharing options...
No.12 508 Posted May 16, 2012 Share Posted May 16, 2012 How do you go about buying a share as a gift? Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 16, 2012 Share Posted May 16, 2012 the company pay the cva not the shareholders. Quote Link to post Share on other sites More sharing options...
Alnic3856 358 Posted May 16, 2012 Share Posted May 16, 2012 You can't right now since whyte stopped us trading on the stock Market when he didn't publish accounts. Quote Link to post Share on other sites More sharing options...
No.12 508 Posted May 16, 2012 Share Posted May 16, 2012 You can't right now since whyte stopped us trading on the stock Market when he didn't publish accounts.Cheers Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 16, 2012 Share Posted May 16, 2012 also it will be worthless if we newco. Quote Link to post Share on other sites More sharing options...
docspiderman 1,308 Posted May 16, 2012 Share Posted May 16, 2012 Do the shares not now belong to his mother and were they not rendered almost worthless at time Whyte took over the club? Quote Link to post Share on other sites More sharing options...
Carsons Dog 9,878 Posted May 16, 2012 Share Posted May 16, 2012 I don't believe he is required to contribute anything. If he is, then the thousands of small shareholders like myself would be required to contribute also.And the RST would have to do likewise with their shares.(gets coat, scurries off briskly and awaits for grenade to explode) Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted May 16, 2012 Share Posted May 16, 2012 Nothing happens with King's shares or the shares of any of us (assuming the CVA goes ahead and we don't go down newco route). Nor do any of us have to put money in for the CVA. King will continue to own c.5% going forward.(IIRC, the consortium would need >90% of the shares before they could force us to sell our shares to them, but that won't happen anyway as the bad feeling generated from forcefully taking our shares would be a disaster PR-wise.) Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 16, 2012 Share Posted May 16, 2012 Nothing happens with King's shares or the shares of any of us (assuming the CVA goes ahead and we don't go down newco route). Nor do any of us have to put money in for the CVA. King will continue to own c.5% going forward.(IIRC, the consortium would need >90% of the shares before they could force us to sell our shares to them, but that won't happen anyway as the bad feeling generated from forcefully taking our shares would be a disaster PR-wise.)I have a feeling the magic number is 92% Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted May 16, 2012 Share Posted May 16, 2012 I have a feeling the magic number is 92%You're usually wrong. And you are again. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 16, 2012 Share Posted May 16, 2012 You're usually wrong. And you are again. fair enough. Quote Link to post Share on other sites More sharing options...
Mr Struth 137 Posted May 16, 2012 Share Posted May 16, 2012 Ha Ha. Boss owns GS again. Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted May 16, 2012 Share Posted May 16, 2012 Ha Ha. Boss owns GS again.As you (someone?) said the other day, we all own a wee bit each. He's the forum horse (donkey?) and we all have a share. Quote Link to post Share on other sites More sharing options...
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