New statement
 

http://www.accringtonstanley.co.uk/gfx/emblem.jpgAccrington Stanley Managing Director, David O’Neill has announced his search for new directors for the Club. With Ilyas Khan’s immanent official resignation from the Chair and also board member Peter Marsden based out of Accrington, David O’Neill is looking for local businessmen and company directors to join the club and help push Stanley on to the next level.
Ilyas has not yet officially resigned; however, the Club needs to plan for the future. It has been very difficult to hold board meetings with both Peter and Ilyas being based in London and for a League 2 Club the board should have a more extensive base than three Directors.

O’Neill would also like for the new board to democratically vote on the new Chairman once Ilyas officially departs, he went on to explain
“When Eric left it was assumed that because he was Managing Director and Chairman that I would step into those shoes, it was not a position that I was comfortable with as it did not seem right to just adopt that roll, the past 14 months have been challenging to say the least. We have now assembled a very strong Management team who are more than capable of driving the Club forward and maintain off field activity to reach our maximum potential."

"When Ilyas stepped into the Chair he played Devil’s Advocate superbly and challenged, yet helped me, every step of the way, however, the time has come to elect a board and Chairman to spearhead the club and continue to challenge this management team to ensure we do achieve that maximum potential, potential that I have always known was there.”
O’Neill verified the criteria of potential applicants, “I’m looking for approximately six well established local professionals with verified business experience and acumen, who have both a vested interest in the Club and the town.

"Interested parties should be from a broad spectrum of professions from Company Directors to Solicitors. Candidates will ideally have a wealth of experience and expertise that will enhance the development and sustainability of the Club.”

For anyone interested in investing in the club and joining the board, please declare interest in writing for the personal attention of David O’Neill, Accrington Stanley Football Club, Livingstone Road, Accrington, BB5 5BX

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Yay! Its official all the bloody fuss over lol on fishy site home page so thread stays.

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Can we now post the original and compare the two statements?

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Role ;)

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Probably best left alone

Afraid not the club objected to the original so to avoid my phone going off best not to publish on open forum. Tho u can quite happily discuss this current edit freely as in public domain now.

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SM's had more than enough grief for one day, so let's let sleeping dogs do their thing ...

Thanks chimer :) :) much appreciated :)


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So basically current regime has no dosh to invest so is asking for investors? Is our financial position more worrying than feared? Or is it asking a lot or should i say is it viable that such knowledgable investors exist locally that would commit to our club?
Confusing??
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In comparison to the old statement, the new one removes alot of the 'we are skint and looking for 6 people to invest x amount in' with a more positive we need more board meetings. Its for the town.

Good spin O'Neil look forward to your next one.

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as i said on other thread, think its worded much better now,may be wrong, but suspect the good spin came from martyn.:D

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does this mean lancsdave is applying?:D

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I agree it is worded alot better than the other version. Could persume the first was a listen of notes from O'Neil to Martyn that got published by accident ?

A much more professional version. Shame that the bit saying 'I have 51% and can vote myself as chairman', which is sheer arrogance has been removed.

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thats why i'm assuming the spin was not the DoNs.:rofl38::rofl38::rofl38:

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:) At least Mr ONeil admitts that he not up to been chairman and wants a democraticall vote by the board :)

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As much as it is great that we are seeking new investment and ideas, I honestly believe we are not an attractive proposition to an investor. I think it would be a lot better if we got the accounts finalised, sort the embargo out, sort the ownership issue and then I think we may have a chance of getting interest in the club. I think most people wouldn't be interested when we don't actually know who owns the club and at what percentage. Plus there is still the issue of directors loans of a 6 figure sum which needs resolving, I think the timing of this could have been better as there a number of key issues that need to be resolved yet.

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Dont forget that O'Neill stepped down from chairman after the fiasco with the tax, when Ilyas and PM saved us from deaths door.

The original statement stated that '' What happened when Eric left is I became Chairman, nobody voted me in or anything like that. But 51% shareholder I can vote myself in if I needed to anyway.''

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The timing does seem very strange to me.:confused: makes me wonder,is there n ulterior motive.:eek:

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“I am very pleased that the new board has come together, and that the future of Accrington Stanley Football Club is assured. The past few months have been challenging, but the positive changes effected on the field, and in the day to day management of the club can now be supported by a stronger financial backing and a board with the requisite experience and strength to move forward." (David O'Neill, 3 November 2009)

Are we now to assume that the board described by David O'Neill did NOT have "the requisite experience and strength to move forward"?

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I for one would certainly welcome new investment, fresh ideas & impetus into the Club whether the timing is right remains to be seen?

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I run a business that makes a profit, we have no debts and only one bad debtor. Can't see me being of much use :D

Normally an investment in a football club is measured by shares and ownership. The easiest way to raise money would be to issue shares which actually give people or organisations ownership rights, from the statement issued that doesn't seem to be the case, so as Theo, Peter, Debra, James and Duncan would say, I'm Out :mosher:

Of course there is no monetary investment required, the statement clearly asks that the investment is of knowledge and business acumen, not cold cash ;)

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I thought the new statement was to be 'basically the same but with a few additions', - I would say it's definately not the same & with a lot of exclusions - as someone has said it was probably a list of notes by O'Neil which was published by accident, but in those notes he certainly showed his true colours & by panicking & demanding the thread on here be removed I think he's just dug himself into a deeper hole (just my opinion)

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Transfer embargo still in place...accounts still not submitted...still questions being asked over the shares/ownership...ground still not up to FL standards.

It might have been better if he'd resolved some of those issues before asking for "new blood" to come on board. :rolleyes:

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He doesn't own 51% EW owns 51%. When will he get that into his thick skull. Until it is registered at Companies House differently EW still legally owns the shares. Incidentally the £250 shares that were sold still haven't been registered.

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No wonder he is hinting for solicitors then :rofl38:

Then can they do this 'legally' then or does it still require someone to buy out that 51% :confused::confused:

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Don't know, but I suspect that EW can vote who he wants in as he owns the shares.

Here are details of legal ownership of shares:

The entry of the person or persons in to the share records is the acid test of whom owns a certain share. Thus the name has to appear in the share register for the law to recognise that ownership is effective from:

1. The signing date of the instrument of transfer;

2. The date the company's officers met to approve and record the share transfer, or

3. The date the stamp was placed on the share transfer documents stamped

Obviously if this has not been done then DON knows fine well who leaglly owns the shares. There could also be clauses in the Club's Articles of Association concerning the transfer of shares to an outsider

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This just gets worse

We have a chairman (or want to be chairman)/majority share holder with no money, no ideas but plenty of stuborness, selfishness and self-promotion.

He is hoping for a few mugs who in return for the title as company director and a nice seat on a match day, will put money into the club with no return or legal right to a return on their investment.

Where as Oneill would get a handsome return if we where to get promoted or had a big cup run, brought in loads of extra cash, for him with 51% to take home a big dividend.

This is utter madness.

The above is not my opinion, but the opinion of a guy i just meet in the street. The club are so obsessed with ontroing this messageboard, you just never know.

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Wow cheers Jeff, so be no surprise there will be clauses and conditions attached to any prospective share transfer as far as Erics shares are concerned :rolleyes:

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Now you understand the position im in davo, i have to protect our users and messageboard :D

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I think we all agree DON is a clown with no idea

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Whilst this is all well and good choosin good board members i think they need to sort out this transfer embargo cause it looks like its still there, sort it out!

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We must have been talking to the same chap! Only when I met Him, he said the current situation reminded him of O'Neils attitude to the SOS appeal last year, inso much that he STILL wants other people to to put money into the club (and experience) but remains in the position of NOT being financially predesposed to doing the same! Basically, once again getting someone else to bail him out and buy his business for him.

I, of course, politley explained that the Don would NEVER stoop to that level again...................would HE? :eek::eek:

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Impasse

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Doubt if its the same chap U.K. quite a few of em about, i met a couple.:rofl38::rofl38::rofl38:;)

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Google Page Ranking, you are probably right to post the above remark, but Im sure that you and many others remember the first public meeting the DON called, when He asked 'us' to 'trust him'...............well we tried that and look what happened!!

Mate, I have the utmost respect for you and therefore your views........which are way more positive than mine..............but lets be honest here, would you buy a used car from the DON?...........:D

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The situation has become an Impasse in that some of the issues that were there nearly twelve months ago still remain.:(

I am not going to go too heavy

I know what I want to see which is the Club go forward as one but for that to happen people have to look at how to rebuild the bridges, trust & respect have to be earned.


Then come up with a clear & concise direction with a genuine blueprint/footprint whatever but something that gives the Club a way to move forward Rapido.

Thers is so much that can be achieved with this Club & the wonderful people who are connected with it the whole situation just frustrates me:mad:

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sure we all want that mate, more than anything, what really dismays me, is i don't honestly think those two are capable/competant enough to get there.:(

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The club has reached its full potential being mid-table in Division 2.

Investing money to get promoted is unsustainable as the crowds won't be attracted.

The big challenge is staying up every year, hopefully with the books balanced.

There should have been a share issue last year rather than becoming a charity.

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Sorry for being pedantic but.....
Here goes:
DON does not own any shares.

There are 2000 ordinary group A shares

EW owns 993 - 49.65%
The rest of the shares are owned by 18 other individuals ( I have chosen not to name them) spilt into number of shares as follows:

382
60
50
50
50
39
38
30
30
30
25
25
25
25
25
25
25
73

There are 9800 ordinary group B shares
EW owns 5291 - 53.98%
The rest of the shares are owned a too large amount of individulas for me to list.

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can i ask stephen, the ordinary group B shares, which i assume are those folk paid £250 for, but are not yet registered, would those be in yer figure of 9800?:confused:

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Yes, group B shares are the ones as part of the recent pacakages available. . . . Although other group B shares existed before the SOS package.
Not too sure why you say ' not yet registered ' ?

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is the above not the case?:confused:

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Now I see,
I don't know if this is true or not, sorry.

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no worrys stephen, having known the guy a lifetime, i take it as true.;)

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:confused:I Thought the club bought theses shares off an excisting share holder to help raise sos funds.

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now ya really confused me mab, how does the club "Spending Money" on these shares help raise funds?:confused:

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Any of you lot yet seen Toy Story 3? There is more than one parallel with the goings on at the Crown...Coleman being Woody, Bell being Buzz and the rest of the team up against all odds, not least a spoilt brat who does not know what assets he's got and not got a clue what to do.

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Now there's the rub cashman! They were sold at a premium as part of an 'enhanced' package and under Platinum, Gold, Silver and Bronze titles.

They are still on offer and the fine detail is on the fishy site. ASFC Commercial, last item 'Share Issue Package.'

I think there are still plenty left if you want to dabble.

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Presumably they bought them for x and sold them for x+y therefore making y as profit? Can't recall the club saying they bought the shares they sold though, I thought they had been donated.

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just love a good sense of humour sherry.:rofl38::rofl38::rofl38:

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Now that is one subject that does irk me big time:rolleyes:

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The shares which were offered in these 'packages' at the time of the SOS were bought from David Styring, who I think had been left them by his father Terry Styring.
At the time Mr Styring approached the ASSF about buying them but we declned as it would not have put any money into the club as obviously the money would have gone to Mr Styring.
The club then bought these shares & offered them for sale at various prices ranging from 250 quid as part of a package. How much the club bought them for, or how they paid for them at a time when the club was absolutely skint & had the begging bowl out to raise money to pay the tax man is another matter.

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Sale or return perhaps? Just guessing tho:)