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Thin Monkey · 15-09-2010, 18:51

I was a bit perplexed last evening when Ilyas said a £200,000 share issue had been sanctioned by the board why Eric had not blocked it, and what could be done to prevent him calling an EGM to overturn the decision.

Lo and behold that's what's happened.

For the majority shareholder to allow his shareholding to be diluted to such an extent that he loses his majority would be like Turkeys voting for Xmas.

To say who owns the shares doesn't matter is rubbish. Whoever owns the shares owns the company and is quite within their rights to shut it down. Whoever owns the debt can do likewise. What they can't do is force the owner to hand over a going concern. Try to do that and Ilyas runs the risk of having to force the company into administration if not liquidation. And then where's that leave his community club then?

15-09-2010, 18:51	#51
Thin Monkey Full Member Join Date: Aug 2006 Posts: 163 Liked: 34 times Rep Power: 4365	Re: Official club statement I was a bit perplexed last evening when Ilyas said a £200,000 share issue had been sanctioned by the board why Eric had not blocked it, and what could be done to prevent him calling an EGM to overturn the decision. Lo and behold that's what's happened. For the majority shareholder to allow his shareholding to be diluted to such an extent that he loses his majority would be like Turkeys voting for Xmas. To say who owns the shares doesn't matter is rubbish. Whoever owns the shares owns the company and is quite within their rights to shut it down. Whoever owns the debt can do likewise. What they can't do is force the owner to hand over a going concern. Try to do that and Ilyas runs the risk of having to force the company into administration if not liquidation. And then where's that leave his community club then?