Official club statement

[mab]

Originally Posted by widnes viking

Surely they will have to sort out this share ownership issue sooner rather than later in particular DONs position with his share purchase from EW. I can't understand how the club can be restructered if the actual majority shareholder issue is up in the air.

Who owns theses shares really doesn't matter any more!!! Legaly Eric is still the registered owner which is 51%.But in fact the owner of the club because of the det which was cleared is Ilyas him self and when their is this forth coming share issue of roughly 200k Eric/Davids 51% will be only around the 17% mark.so like i said who cares

[VALAIRIAN]

Originally Posted by widnes viking

Surely they will have to sort out this share ownership issue sooner rather than later in particular DONs position with his share purchase from EW. I can't understand how the club can be restructered if the actual majority shareholder issue is up in the air.

Soon, that will neither be true, or an issue

[widnes viking]

So was it a condition of Illyas's loan that if it wasn't repaid in time he could take over the club similar to RBS with Liverpool?

Given the loans took place when DON was on watch how does that effect EWs shareholding?

[mab]

Originally Posted by widnes viking

So was it a condition of Illyas's loan that if it wasn't repaid in time he could take over the club similar to RBS with Liverpool?

Given the loans took place when DON was on watch how does that effect EWs shareholding?

What was said last night was that the club is still lossing money so any shares are worthless at the moment!! so what value would you put on worthless shares me a big fat ZERO

[VALAIRIAN]

It is not loans, it is debts owed!!! Owed to a man that loves Stanley more than words can say!! He helped to save the club and will help to re-build the club. All debts will disappear, but the whole debt/equity/loans/shares thing, means nothing other than, we the FANs, will benifit and the club - that we all love so much - will survive and prosper!!!!!!

ON STANLEY ON

[Thin Monkey]

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?

[mab]

Originally Posted by Thin Monkey

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?

Thin Monkey are you saying that Eric is behind whats on the fishy site,and a share holders meeting has been called by him.

[Doug]

I don’t really want to get in to this and the fact that the club talks of Legal Processes ongoing suggests that not everything is cut and dry for anyone.

I understood from the writings on here and in the press that the money Ilyas put in was with no strings, be it a gift, a bail out or a donation. At the end of the day this is no further on than it was last year.

There are a couple of things that bothers me:

If Ilyas just bought the club and put a trustee in place to run it and the give it to the community as a stable concern, the outcome would be the same, why do have to run the risk of splitting the fan base or worst; the club.

Why after all this time there is still no officially published action plan and time table by Ilyas’s camp. A constitution is not an action plan.

How is this going to work in the real world; having read the telegraph article online, I can’t see how realistic it would be to build a new stadium when the community can’t fill the existing one.

The share issue is all fine and dandy, but they have to sell. Now and the next few years are going to be the hardest that common supporters and local businesses will have faced in generations.

[lancsdave]

Originally Posted by Doug

I can’t see how realistic it would be to build a new stadium when the community can’t fill the existing one.

If it is multi purpose then it becomes more viable. Just one example is the club's community team, ( who are constantly expanding the areas of the community they get involved with) , they currently beg steal or borrow facilites all over town at the moment.

Football stadiums are there 7 days a week, 365 and a quarter days a year, plenty of potential with the right facilties

[lancsdave]

Originally Posted by mab

Thin Monkey are you saying that Eric is behind whats on the fishy site,and a share holders meeting has been called by him.

It's like an Agatha Christie novel, trying to figure out who has who tied up in knots

[Doug]

[quote=lancsdave;845201]If it is multi purpose then it becomes more viable. Just one example is the club's community team, ( who are constantly expanding the areas of the community they get involved with) , they currently beg steal or borrow facilites all over town at the moment.

Football stadiums are there 7 days a week, 365 and a quarter days a year, plenty of potential with the right facilties [/quote


I know Dave, I understand how it works, but this is Accrington even if it becomes a centre of excellence for the community it will have one hell of upkeep, both in terms of day to day running and in long term legal and maintenance costs.

Is it affordable? Many community organisations have now’t to start with and will still in some cases want to beg, steal or borrow in order to afford to use it.

[VALAIRIAN]

Originally Posted by Thin Monkey

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?

There are 100'000 shares at the mo,, Ilyas stated that there would be an additional 200'000 shares - no talk of £££££'sss

[lancsdave]

[quote=Doug;845205]

Originally Posted by lancsdave

If it is multi purpose then it becomes more viable. Just one example is the club's community team, ( who are constantly expanding the areas of the community they get involved with) , they currently beg steal or borrow facilites all over town at the moment.

Football stadiums are there 7 days a week, 365 and a quarter days a year, plenty of potential with the right facilties [/quote


I know Dave, I understand how it works, but this is Accrington even if it becomes a centre of excellence for the community it will have one hell of upkeep, both in terms of day to day running and in long term legal and maintenance costs.

Is it affordable? Many community organisations have now’t to start with and will still in some cases want to beg, steal or borrow in order to afford to use it.

They could always offer it's use a 5 day market, that way the current market traders can leave the imposed 6 day market and everyone's happy

[yonmon]

Originally Posted by mab

Thin Monkey are you saying that Eric is behind whats on the fishy site,and a share holders meeting has been called by him.

But this will surprise many....

It is the club’s full intention to issue a detailed press release outlining the situation in its entirety, as soon as all outstanding matters have been legally resolved...don't you think Mab ???.

[Redraine]

Originally Posted by Doug

DON & EW are aledeged to have put their own funds in as loans; so if the club is owned by the debtors then these two are in the running; it also looks to me that this as been a clever blind to get IK & PM to put up the funds to bail the club out.

Just what I suspected all along. They had nothing to lose by letting the club die, but knew that Ilyas wouldn't let that happen. It stinks to high heaven.