03-06-2010, 16:17
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#82
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Super Moderator
Join Date: Apr 2004
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Re: Coley & Jimmy Demand Contract Resolution
Quote:
Originally Posted by Redash
At a board meeting earlier this year, the board Ilyas, Peter and Do'n voted for a £200,000 share issue, whereby, Ilyas can convert his financial aid into £200,000 worth of shares.
As it stands, EW has 51% of the shares, he agreed a price with DO'N to buy these shares, EW has said he lent the club £xxx but can't prove it. DO'N or the club don't want to pay EW for the £xxx loan until it is proved how much and when was lent. Hence the share transfer stalling.
If EW decides he wants the club back with his 51% of the shares, then Ilyas will exercise is option to make his financial aid into shares, instantly making EW's holding 25% and worthless on it's own.
Can everyone follow that.
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Cheers for that, mate, message received! That's very reassuring to know! 
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