Today's meeting of Shareholders

stanleyhouse · 16-01-2010, 20:49

At this afternoon's meeting of shareholders, it was voted that the Directors of Accrington Stanley Football Club Ltd should increase the authorised share capital by £200 000.

dabeast · 16-01-2010, 21:38

excuse my ignorance but what does that mean?

VALAIRIAN · 16-01-2010, 21:43

I think it means that at the moment there is £100K worth of shares, this being recommended at a Shareholders meeting, means that the Directors can issue more shares, to the value of £200K. This will give the chance to anyone who wants to, to have a little - or whatever! - bit of Stanley!!

If I am wrong, somebody please put me right!!!

sherry · 16-01-2010, 22:01

Can only be good for the club - let's all have a bit!

VALAIRIAN · 16-01-2010, 22:03

I agree, wholeheartedly!

cashman · 16-01-2010, 23:43

being a total numpty in share matters,

i can only assume Share Capital means n increase of the actual available shares? if so it leads me to ask what Type of shares? Class A/ Class B? as from what little i understand their is a differance in voting rights with these shares? would be interested to know the answers, if i am interpreting it wrong, get knotted ya silly owd get does not offend me.

ukcowboy · 17-01-2010, 00:57

From my understanding of being at yesterdays meeting, all the shareholders have done is basicaly given the current board of directors a MANDATE to issue new shares in ASFC upto £200,000 in value. Whether they are to be A shares or B shares was NOT discussed, neither is it 'set in stone' that it will happen, it was purely a technical issue giving the board the option to do so at a later date if they should decide to. So I think we all have plenty of time to start putting a couple of quid away each week/month to buy shares if and when the board decide it wants to go down that route.

I must point out that this is what I understand to be the current state of affairs, no doubt if Im wrong someone will put us all right.

cashman · 17-01-2010, 01:15

Quote:

Originally Posted by ukcowboy

From my understanding of being at yesterdays meeting, all the shareholders have done is basicaly given the current board of directors a MANDATE to issue new shares in ASFC upto £200,000 in value. Whether they are to be A shares or B shares was NOT discussed, neither is it 'set in stone' that it will happen, it was purely a technical issue giving the board the option to do so at a later date if they should decide to. So I think we all have plenty of time to start putting a couple of quid away each week/month to buy shares if and when the board decide it wants to go down that route.

I must point out that this is what I understand to be the current state of affairs, no doubt if Im wrong someone will put us all right.

cheers fer that uk, personally would like it to happen.

maccawozzagod · 17-01-2010, 02:27

was the 'majority' shareholder present? if not does it not matter? The meeting was very short notice so maybe not everyone could be there to vote.

Good news though by the way!

loweiy · 17-01-2010, 10:34

the majority share holder is David O'Neil and yes he was there.

sherry · 17-01-2010, 10:38

Spot on ukcowboy, and the percentage of overall shares held by those present was more than enough to authorise the mandate.

For clarification the present 'A' and 'B' shares hold equal voting rights as stated in the ASFC's Mem and Arts. (legal stuff!)

cashman · 17-01-2010, 11:16

Quote:

Originally Posted by sherry

Spot on ukcowboy, and the percentage of overall shares held by those present was more than enough to authorise the mandate.

For clarification the present 'A' and 'B' shares hold equal voting rights as stated in the ASFC's Mem and Arts. (legal stuff!)

ta sherry, the shares A,B, can go either way regarding voting rights, so i'm led to believe,

so clarification about the present shares is worth knowing.

lancsdave · 17-01-2010, 11:31

Quote:

Originally Posted by VALAIRIAN

I think it means that at the moment there is £100K worth of shares, this being recommended at a Shareholders meeting, means that the Directors can issue more shares, to the value of £200K. This will give the chance to anyone who wants to, to have a little - or whatever! - bit of Stanley!!

If I am wrong, somebody please put me right!!!

If there is currently 100k worth of shares and 51% of those shares are owned by one person, does it not mean that somebody can buy the other 100k worth and become the major shareholder ?

SPUGGIE J · 17-01-2010, 11:47

Quote:

Originally Posted by lancsdave

If there is currently 100k worth of shares and 51% of those shares are owned by one person, does it not mean that somebody can buy the other 100k worth and become the major shareholder ?

A very interesting point there. Can someone in the know clarify it please.

VALAIRIAN · 17-01-2010, 11:54

Quote:

Originally Posted by lancsdave

If there is currently 100k worth of shares and 51% of those shares are owned by one person, does it not mean that somebody can buy the other 100k worth and become the major shareholder ?

Not sure LD, but, on re-reading my post, I think it has come across incorrectly!

The current is £100K, the meeting yesterday means that an ADDITIONAL £200K can be issued! Sorry if I put it across wrongly!!

But, sorry I cannot answer that question, but I am sure that it will be clarified soon!