Takeover / New Investment - What Rumours Have You Heard?

[tGWB]

19 minutes ago, singe said:

The Trust have turned the acre somewhat, a welcome intervention saying the accounts are too basic. 

https://trustoldham.co.uk/november-review/

@_TrustOldham should have insisted on checking the register of shareholders weeks ago when the FLG announced that they were in the process of buying club shares, not at the of November, declaring it as a Dec/Jan target 

[underdog]

1 hour ago, tGWB said:

@_TrustOldham should have insisted on checking the register of shareholders weeks ago when the FLG announced that they were in the process of buying club shares, not at the of November, declaring it as a Dec/Jan target 

Hi tGWB

Yes we can hold our hands up on that one. If I remember event right the fan forum was on Thursday 10th, October, the FLG announcement was on Friday 11th October late evening and the Trust team had just bee in the club tht day viewing the 17/18 accounts. On Monday 14th we had our Trust meeting and did log it there that we needed to look into it, but we had a full agenda then.

We then experienced delays towards the end of October into November but by then we had to prioritise leading into November agenda. This was the full 17/18 account briefing and agreeing questions for the EFL meeting that week as we knew accounts was on the agenda with them. Additionally, most fans questions at the time did revolve around the accounts as well so we decided to put shareholders rights on the back burner and based on the limited resources we have.

 

I hope you can understand our reasoning around why we chose to finances first but we will be pressing on with the Shareholders rights and access to that information.

 

 

Thanks

 

 

[Handsy]

Well what a pivotal day  this has turned out to be. 

[tGWB]

26 minutes ago, underdog said:

Hi tGWB

 

Yes we can hold our hands up on that one. We did log it in the October meeting notes on the 14th that we did need to look into it more, but as per the update, we have had delays during October and November. 

We also had to prioritise and we decided the financials had to be a priority and getting access for the Trust team paramount.Especially as we were meeting the EFL last week so we needed a financial overview to give. Additionally, most fans questions at the time did revolve around the accounts as well so we concentrate on the financials.

I hope you can understand our reasoning around why we chose to finances first.

Thanks

Thanks for your response 

 

Its worth noting that your September meeting notes issued on the 14th Oct stated :

’Above all we will be discussing the recent statement regarding the acquisition of club shares by the FLG’

 

With respect its now the 22nd Nov and your note today advises you still haven’t seen the clubs register of shareholders and it doesn’t strike me as a difficult task considering we have a Trust Director on the club board. 
 

Appreciate you have to set priorities but this for me is a ‘dropped ball’ as most supporters are still very much in the dark about who is backing the FLG and they’re supposedly buying club shares. 
 

 

[underdog]

54 minutes ago, tGWB said:

Thanks for your response 

 

Its worth noting that your September meeting notes issued on the 14th Oct stated :

’Above all we will be discussing the recent statement regarding the acquisition of club shares by the FLG’

 

With respect its now the 22nd Nov and your note today advises you still haven’t seen the clubs register of shareholders and it doesn’t strike me as a difficult task considering we have a Trust Director on the club board. 
 

Appreciate you have to set priorities but this for me is a ‘dropped ball’ as most supporters are still very much in the dark about who is backing the FLG and they’re supposedly buying club shares. 
 

 

Hi tGWB

 

Found what you where referring to

The Trust will hold it's monthly meeting tonight on October 14th.

Above all, we will be discussing the recent statement regarding the acquisition of club shares by the FLG.

We will keep you update of any outcomes from the meeting.

 

Then on the notes now published for the evening  we registered it under  

5.09	Shares: DR will seek clarification

 

 Our agenda sometimes have to be flexible when things crop up and can crop up on an every changing daily basis in the world of OAFC. As you can see it was a pretty full agenda with two new members of the team and a few critical key absentees.  

 

Like I said I get that you are disappointed it has not been sorted yet but we will press for it now with the other essentials of the clubs financials

 

Thanks

[simplythemostimportantkick]

13 hours ago, underdog said:

Hi tGWB

 

Found what you where referring to

The Trust will hold it's monthly meeting tonight on October 14th.

Above all, we will be discussing the recent statement regarding the acquisition of club shares by the FLG.

We will keep you update of any outcomes from the meeting.

 

Then on the notes now published for the evening  we registered it under  

5.09	Shares: DR will seek clarification

 

 Our agenda sometimes have to be flexible when things crop up and can crop up on an every changing daily basis in the world of OAFC. As you can see it was a pretty full agenda with two new members of the team and a few critical key absentees.  

 

Like I said I get that you are disappointed it has not been sorted yet but we will press for it now with the other essentials of the clubs financials

 

Thanks

If I were the trust I’d stop wasting my time. Move over and let PTB take it from here. 

[singe]

The business club is being "relaunched" with the help of the Boundary Park Branson. 

 

 

 

[tGWB]

34 minutes ago, simplythemostimportantkick said:

If I were the trust I’d stop wasting my time. Move over and let PTB take it from here. 

Just daft that

 

The Trust, over the last decade or so, have secured legal agreements with regard to the well being of our club to which all are still valid and protect us from predatory land grabbers.

Fair play to ‘Push the Boundary’ for capturing the current mood of many supporters wanting to protest 

 

The two groups have very different approaches and both in the best interests of our supporters 

 

For me, they should continue to work independently, channeling their efforts into their preferred approaches whilst satisfying differing supporter opinions and views.

 

[tGWB]

14 hours ago, underdog said:

Like I said I get that you are disappointed it has not been sorted yet but we will press for it now with the other essentials of the clubs financials

As always Underdog, thanks for getting back  

[al_bro]

As far as I remember there were initially 100 shares (I may be wrong). Now there are 20100.

If the FLG purchased 7 shares from Corney, when he paid off the loan, at the then price of (if it's right that AL paid £3m for the club) £210,000. Those shares are now worth £1044.78. A massive loss.

[tGWB]

44 minutes ago, al_bro said:

As far as I remember there were initially 100 shares (I may be wrong). Now there are 20100.

If the FLG purchased 7 shares from Corney, when he paid off the loan, at the then price of (if it's right that AL paid £3m for the club) £210,000. Those shares are now worth £1044.78. A massive loss.

This is precisely why I suggested weeks ago that the Trust having a board representative should request to see the Club shareholder register to confirm who holds how many shares.

We’re all guessing otherwise 

[WLYOWD]

2 hours ago, al_bro said:

As far as I remember there were initially 100 shares (I may be wrong). Now there are 20100.

If the FLG purchased 7 shares from Corney, when he paid off the loan, at the then price of (if it's right that AL paid £3m for the club) £210,000. Those shares are now worth £1044.78. A massive loss.

Shares are only ever worth what someone is willing to pay for them.
The real value in the shares that the FLG were buying/bought was proving BO and AL wrong on the 97% / 3% split between AL and the Trust claim.
With the biggest value now looking like being that the FLG have in effect forced AL to turn his Director loans into shares.

So a win for the Club and the FLG  in my view (if you believe their intentions are about the long term benefits of the club, which I have no reason not to).

[singe]

On 11/7/2019 at 10:20 PM, Dave_Og said:

Probably crossed wires. I'm referring to the Oxford addressed company. I know what it and that it isn't and never has been anything to do with Latics. 

I also have now realised it was a G4 entry into the Gazette, which is just notification of the confirmation update being put on Companies House website. Total non event, which you said. Sorry! 

[GlossopLatic]

Speaking hypothetically here as I couldn't say whats gone on.

 

If Mr Lemsagam has diluted the FLG's shares without letting them know is this legal?

[Dave_Og]

3 hours ago, GlossopLatic said:

Speaking hypothetically here as I couldn't say whats gone on.

 

If Mr Lemsagam has diluted the FLG's shares without letting them know is this legal?

Yes. Almost certainly although governed by what it says in the club's articles. 

[Clifford]

Given we can't pay out debts to the St John's Ambulance how long are people giving this shit show? Do we think we will get to the end of the season before AL goes bump or sooner? Once we get deep into the taxman or someone with an issue with AL we are in for some fun. 

 

[Dave_Og]

8 minutes ago, Clifford said:

Given we can't pay out debts to the St John's Ambulance how long are people giving this shit show? Do we think we will get to the end of the season before AL goes bump or sooner? Once we get deep into the taxman or someone with an issue with AL we are in for some fun. 

 

 

Source?

[lookersstandandy]

8 minutes ago, Dave_Og said:

 

Source?

 

 

 

 

 

[jorvik_latic]

41 minutes ago, Dave_Og said:

 

Source?

 

The old Chaddy the Owl who is now a pastor at a church in Manchester. 

[TheBigDog]

18 minutes ago, lookersstandandy said:

 

 

 

 

 

 

Kevin Williams heard, ‘straight from the horses mouth’ but doesn’t actually mention the name of the ‘horse’ , that St John’s refused to carry on due to unpaid fees. Natalie Atkinson, MD of the club, states publicly and in writing that the end of the relationship was not due to unpaid debts.

 

Polar opposite statements. 

 

And so so it goes on and on...

 

Whom do we believe?

[Hometownclub]

You'd hope that at some stage we will be so low that we can't get any lower, unfortunately it seems we are not there yet. 

[sjk2008]

7 minutes ago, TheBigDog said:

 

Kevin Williams heard, ‘straight from the horses mouth’ but doesn’t actually mention the name of the ‘horse’ , that St John’s refused to carry on due to unpaid fees. Natalie Atkinson, MD of the club, states publicly and in writing that the end of the relationship was not due to unpaid debts.

 

Polar opposite statements. 

 

And so so it goes on and on...

 

Whom do we believe?

I know which side of the fence I will be sitting on

[BP1960]

9 minutes ago, jorvik_latic said:

 

The old Chaddy the Owl who is now a pastor at a church in Manchester. 

 

Hope he's saying a few prayers for us.

[mcfluff1985]

1 hour ago, TheBigDog said:

 

Kevin Williams heard, ‘straight from the horses mouth’ but doesn’t actually mention the name of the ‘horse’ 

I assumed from St. John

[Pidge]

2 hours ago, lookersstandandy said:

 

 

 

 

 

This was something I brought up a few weeks ago, asking if anyone knew why St John's had stopped coming

Kind of makes sense now!