Dave_Og Posted November 4, 2019 Share Posted November 4, 2019 26 minutes ago, al_bro said: Are you saying that Corney kept some shares after the sale of the club? BO stated at the forum that AL had 97% of the shares. Was he lying, or didn't he know? Well let's face it, he clearly knew the square root of bugger all about what was going on with n the latter days of the previous regime. Link to comment Share on other sites More sharing options...
tGWB Posted November 4, 2019 Share Posted November 4, 2019 1 minute ago, pk200 said: Is it possible that AL sold some shares at a later date to help his funds ? AL doesn’t own anything really though does he. Shares in Oldham Athletic 2004 Ltd are of no value unless youre interested in controlling or influencing the board. If someone wanted to invest in the clubs assets they would simply approach Brassbank Ltd (Blitz & Gazal) who own the stadium, the land footprint it sits on and the car parks Link to comment Share on other sites More sharing options...
tGWB Posted November 4, 2019 Share Posted November 4, 2019 3 minutes ago, Dave_Og said: Companies House is not a trustworthy record, it's just a filing cabinet. But it is a filing cabinet in the public domain and open to public scrutiny. Link to comment Share on other sites More sharing options...
Dave_Og Posted November 4, 2019 Share Posted November 4, 2019 5 minutes ago, tGWB said: But it is a filing cabinet in the public domain and open to public scrutiny. Doesn't make it accurate. Link to comment Share on other sites More sharing options...
Dave_Og Posted November 4, 2019 Share Posted November 4, 2019 10 minutes ago, tGWB said: AL doesn’t own anything really though does he. Shares in Oldham Athletic 2004 Ltd are of no value unless youre interested in controlling or influencing the board. If someone wanted to invest in the clubs assets they would simply approach Brassbank Ltd (Blitz & Gazal) who own the stadium, the land footprint it sits on and the car parks And while they're not worthless they're heading in that general direction if there's no football club. Link to comment Share on other sites More sharing options...
leeslover Posted November 4, 2019 Share Posted November 4, 2019 It's always possible that the Club have issued new shares since. Not sure of legality of doing it without the Trust knowing Link to comment Share on other sites More sharing options...
Dave_Og Posted November 4, 2019 Share Posted November 4, 2019 1 minute ago, leeslover said: It's always possible that the Club have issued new shares since. Not sure of legality of doing it without the Trust knowing I don't know the specifics but for a public company having a 3% shareholding wouldn't give any sort of pre-emption rights. If these mysterious shares exist they pretty much must have been issued by Corney to a third party while still in charge. It's hard to believe that the due diligence didn't include reviewing the share register so my assumption based on nothing and so pure speculation is that the information was not provided. Whether that was deliberately done or not who knows. Link to comment Share on other sites More sharing options...
pk200 Posted November 4, 2019 Share Posted November 4, 2019 Am I correct in thinking AL thought he owned a lot more than just the club name so why not sell some shares to finance budget. Link to comment Share on other sites More sharing options...
leeslover Posted November 4, 2019 Share Posted November 4, 2019 10 minutes ago, Dave_Og said: I don't know the specifics but for a public company having a 3% shareholding wouldn't give any sort of pre-emption rights. If these mysterious shares exist they pretty much must have been issued by Corney to a third party while still in charge. It's hard to believe that the due diligence didn't include reviewing the share register so my assumption based on nothing and so pure speculation is that the information was not provided. Whether that was deliberately done or not who knows. Yes, I can't see how Corney could have done it. Lemmy perhaps could have as sole Director? Still begs the question of who would buy them and then sell them onto the FLG without telling him Link to comment Share on other sites More sharing options...
whittles left foot Posted November 4, 2019 Share Posted November 4, 2019 There is one way extremely easy way of clearing up who owns these shares-how many they have and where they came from. Get The FLG to make a statement. Link to comment Share on other sites More sharing options...
Dave_Og Posted November 4, 2019 Share Posted November 4, 2019 6 minutes ago, whittles left foot said: There is one way extremely easy way of clearing up who owns these shares-how many they have and where they came from. Get The FLG to make a statement. They'll probably wait until the deal done and even then they may not be able to name the seller Link to comment Share on other sites More sharing options...
oafcmetty Posted November 4, 2019 Share Posted November 4, 2019 FLG seem to be, quite rightly, keeping their powder dry. Hold onto your hats. Link to comment Share on other sites More sharing options...
oafc1955 Posted November 4, 2019 Share Posted November 4, 2019 Do you know something Link to comment Share on other sites More sharing options...
Theoutsider Posted November 4, 2019 Share Posted November 4, 2019 20 minutes ago, oafcmetty said: FLG seem to be, quite rightly, keeping their powder dry. Hold onto your hats. The FLG are pretty approachable in my experience. Two of them are in the OEC every game and are quite happy to chat. Yes within the realms of certain parameters, but there isn’t any massive cloak and dagger operation, walk up to them say hello and have a chat, they are personable people. No forum required with a mouthpiece answering majority of the questions or anything. I don’t get the criticism and agree with you - they are not stupid and are biding their time for good reason I am sure. Plus the food is good too! FLG in please Link to comment Share on other sites More sharing options...
oafcmetty Posted November 4, 2019 Share Posted November 4, 2019 1 hour ago, oafc1955 said: Do you know something I know that some haven't been paid. Again. I'm hopeful of a light at the end of the tunnel though. Of course to some, that may look like an onrushing train... Link to comment Share on other sites More sharing options...
OAFC_ULTRA Posted November 5, 2019 Share Posted November 5, 2019 5 hours ago, al_bro said: Are you saying that Corney kept some shares after the sale of the club? BO stated at the forum that AL had 97% of the shares. Was he lying, or didn't he know? Barry has not got a clue what is going on at the club. He has no idea what AL does and doesn’t own Link to comment Share on other sites More sharing options...
tGWB Posted November 5, 2019 Share Posted November 5, 2019 You might find this interesting Looking through information that is available in the public domain the FLG announced some weeks ago that they had been 'approached by a third party with an offer to sell a percentage of shares in the football club' and that terms of the purchase had been agreed. The purchase was with their solicitors to take the matter forward to completion there has been no official announcement / statement from AL or the football club to rebuff the statement by the FLG Companies House - our Annual Return, made up to 9th December 2015 shows a statement regarding the 'Full Statement of Shareholders' and specifically lists only 2 shareholders being Oldham Athletic Supporters Foundation Trust having 3 x B Ordinary shares and Simon Corney having 97 x A Ordinary Shares Companies House - a 'statement of capital following an allotment of shares' on the 24th January 2018, lists only the type of shares in the club NOT who owns them, simply confirming there are 97 x A Ordinary shares and 3 x B Ordinary shares d3d4dfootball.com - Chris Stringer (Latics supporter) writes in his article 'Lemsagam Buys the Latics' that 'it is understood that Lemsagam has taken on all of Corney's shares with the other 3% held by the Trust. My current thoughts on this are : With AL or the football club not immediately calling out the FLG regarding their claim of being in the process of purchasing a number A Ordinary shares, the club knows there are some shares currently NOT owned by either AL or Trust Oldham the only reason on the 24th January 2018 when AL became Director of the club and the allotment of shares statement only showed actual the number of shares in the club and NOT the owners of those shares is simply down to AL not owning the 97%. There is no way a new owner wouldn't declare their authority and 'ownership' if they had total control, particularly a football club owner my understanding is that there would be financial penalties if a business knowingly declared incorrect shareholder listings to Companies House. Hence the club has only declared the number and type of shares So in short, I conclude there are some A Ordinary shares in our club that are not currently owned by either AL or the Trust. The only remaining question for me is, how many are there Link to comment Share on other sites More sharing options...
singe Posted November 5, 2019 Share Posted November 5, 2019 8 hours ago, OAFC_ULTRA said: Barry has not got a clue what is going on at the club. He has no idea what AL does and doesn’t own To be fair, he is busy investigating. Link to comment Share on other sites More sharing options...
jorvik_latic Posted November 5, 2019 Share Posted November 5, 2019 27 minutes ago, tGWB said: You might find this interesting Looking through information that is available in the public domain the FLG announced some weeks ago that they had been 'approached by a third party with an offer to sell a percentage of shares in the football club' and that terms of the purchase had been agreed. The purchase was with their solicitors to take the matter forward to completion there has been no official announcement / statement from AL or the football club to rebuff the statement by the FLG Companies House - our Annual Return, made up to 9th December 2015 shows a statement regarding the 'Full Statement of Shareholders' and specifically lists only 2 shareholders being Oldham Athletic Supporters Foundation Trust having 3 x B Ordinary shares and Simon Corney having 97 x A Ordinary Shares Companies House - a 'statement of capital following an allotment of shares' on the 24th January 2018, lists only the type of shares in the club NOT who owns them, simply confirming there are 97 x A Ordinary shares and 3 x B Ordinary shares d3d4dfootball.com - Chris Stringer (Latics supporter) writes in his article 'Lemsagam Buys the Latics' that 'it is understood that Lemsagam has taken on all of Corney's shares with the other 3% held by the Trust. My current thoughts on this are : With AL or the football club not immediately calling out the FLG regarding their claim of being in the process of purchasing a number A Ordinary shares, the club knows there are some shares currently NOT owned by either AL or Trust Oldham the only reason on the 24th January 2018 when AL became Director of the club and the allotment of shares statement only showed actual the number of shares in the club and NOT the owners of those shares is simply down to AL not owning the 97%. There is no way a new owner wouldn't declare their authority and 'ownership' if they had total control, particularly a football club owner my understanding is that there would be financial penalties if a business knowingly declared incorrect shareholder listings to Companies House. Hence the club has only declared the number and type of shares So in short, I conclude there are some A Ordinary shares in our club that are not currently owned by either AL or the Trust. The only remaining question for me is, how many are there https://www.oldhamathletic.co.uk/club/contact-us/ The Club is a member of the English Football League (EFL) and is subject to the EFL’s rules and regulations. As required by those regulations, the Club can confirm the following person(s) have a ‘significant interest’ (as that term is defined within the EFL regulations) in the Club: Oldham Athletic (2004) AFC Ltd Trading As Oldham Athletic Football Club is owned by Abdallah Lemsagam (97%) and Trust Oldham (3%). Link to comment Share on other sites More sharing options...
singe Posted November 5, 2019 Share Posted November 5, 2019 37 minutes ago, tGWB said: You might find this interesting Looking through information that is available in the public domain the FLG announced some weeks ago that they had been 'approached by a third party with an offer to sell a percentage of shares in the football club' and that terms of the purchase had been agreed. The purchase was with their solicitors to take the matter forward to completion there has been no official announcement / statement from AL or the football club to rebuff the statement by the FLG Companies House - our Annual Return, made up to 9th December 2015 shows a statement regarding the 'Full Statement of Shareholders' and specifically lists only 2 shareholders being Oldham Athletic Supporters Foundation Trust having 3 x B Ordinary shares and Simon Corney having 97 x A Ordinary Shares Companies House - a 'statement of capital following an allotment of shares' on the 24th January 2018, lists only the type of shares in the club NOT who owns them, simply confirming there are 97 x A Ordinary shares and 3 x B Ordinary shares d3d4dfootball.com - Chris Stringer (Latics supporter) writes in his article 'Lemsagam Buys the Latics' that 'it is understood that Lemsagam has taken on all of Corney's shares with the other 3% held by the Trust. My current thoughts on this are : With AL or the football club not immediately calling out the FLG regarding their claim of being in the process of purchasing a number A Ordinary shares, the club knows there are some shares currently NOT owned by either AL or Trust Oldham the only reason on the 24th January 2018 when AL became Director of the club and the allotment of shares statement only showed actual the number of shares in the club and NOT the owners of those shares is simply down to AL not owning the 97%. There is no way a new owner wouldn't declare their authority and 'ownership' if they had total control, particularly a football club owner my understanding is that there would be financial penalties if a business knowingly declared incorrect shareholder listings to Companies House. Hence the club has only declared the number and type of shares So in short, I conclude there are some A Ordinary shares in our club that are not currently owned by either AL or the Trust. The only remaining question for me is, how many are there Barry confidently stated at the Trust that Lemsagam owned 97%, Trust 3.%. If the video was still available, you may have noticed some of the other Directors squirming a bit. Link to comment Share on other sites More sharing options...
tGWB Posted November 5, 2019 Share Posted November 5, 2019 7 minutes ago, jorvik_latic said: https://www.oldhamathletic.co.uk/club/contact-us/ The Club is a member of the English Football League (EFL) and is subject to the EFL’s rules and regulations. As required by those regulations, the Club can confirm the following person(s) have a ‘significant interest’ (as that term is defined within the EFL regulations) in the Club: Oldham Athletic (2004) AFC Ltd Trading As Oldham Athletic Football Club is owned by Abdallah Lemsagam (97%) and Trust Oldham (3%). Jorvik_Latic I've made my call and happy to stand by it Link to comment Share on other sites More sharing options...
tGWB Posted November 5, 2019 Share Posted November 5, 2019 8 minutes ago, singe said: Barry confidently stated at the Trust that Lemsagam owned 97%, Trust 3.%. If the video was still available, you may have noticed some of the other Directors squirming a bit. One of the few constants during our decline as a football club over the last decade or so is Barry Owen Nothing else to say on him to be honest Link to comment Share on other sites More sharing options...
josh_latics Posted November 5, 2019 Share Posted November 5, 2019 Link to comment Share on other sites More sharing options...
tGWB Posted November 5, 2019 Share Posted November 5, 2019 34 minutes ago, jorvik_latic said: https://www.oldhamathletic.co.uk/club/contact-us/ The Club is a member of the English Football League (EFL) and is subject to the EFL’s rules and regulations. As required by those regulations, the Club can confirm the following person(s) have a ‘significant interest’ (as that term is defined within the EFL regulations) in the Club: Oldham Athletic (2004) AFC Ltd Trading As Oldham Athletic Football Club is owned by Abdallah Lemsagam (97%) and Trust Oldham (3%). 14 hours ago, Dave_Og said: Companies House is not a trustworthy record, it's just a filing cabinet. 23 minutes ago, singe said: Barry confidently stated at the Trust that Lemsagam owned 97%, Trust 3.%. If the video was still available, you may have noticed some of the other Directors squirming a bit. Here's a thought The Trust are a shareholder. The club should maintain and update a shareholder register. As a shareholder, the Trust can request to view the register to see who other shareholders are Like to get a positive plug in for the Trust as you know and with the Trust having a seat on the board, this really shouldn't be an unreasonable request Hopefully someone from the Trust reads OWTB posts, so over to you . . . . . . . . . . Link to comment Share on other sites More sharing options...
underdog Posted November 5, 2019 Share Posted November 5, 2019 4 hours ago, tGWB said: Here's a thought The Trust are a shareholder. The club should maintain and update a shareholder register. As a shareholder, the Trust can request to view the register to see who other shareholders are Like to get a positive plug in for the Trust as you know and with the Trust having a seat on the board, this really shouldn't be an unreasonable request Hopefully someone from the Trust reads OWTB posts, so over to you . . . . . . . . . . you read my mind?.....winning lottery number please Haha, you have been reading the same shareholder rights act as myself. Yes we are on it. Cheers Link to comment Share on other sites More sharing options...
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