[Tealeaf]

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.

OK..this then should put it to bed. When the £200K share issue was voted on, did that vote include EW's 51% voting right? If so, then it's done and dusted..if not, it's meaningless.

Simple, really.