Farhad Moshiri

[matty1878]

I hope he buys all the shares now and gets a good manager in

 

[The Esk]

The highest fee? Or an average fee?

I should probably check with my lawyer on this finer point, but I'm pretty sure it is at the last offer price offered to shareholders.

 

[The Esk]

Will you work for me one day @The Esk ?

Attractive as the offer is, I haven't worked for anyone since 1994, sorry.

 

[Moomin]

When Moshiri acquired his 17,465 shares he acquired them as follows:

Bill Kenwright sold 4,788 shares
Robert Earl sold 8,146 shares
Jon Woods sold 3,506 shares
Other shareholders (not specified) sold 1,025

Moshiri has the option to acquire the following in addition to the 17,465 shares he currently owns through Blue Heaven:

Option to purchase 4,256 shares from Bill Kenwright
Option to purchase 3,116 shares from Jon Woods
Option to purchase 1,935 shares from Arthur Abercromby

Option to purchase in total 9,307 shares

17,465 + 9,307 = 26,772 shares

Total shares in issue = 35,000

26,772/35,000 = 76.5%

I wonder what Grantchester will do, maybe he might get more involved with Kenwright out of the picture?? If the rumours are to be believed that is.

 

[The Esk]

I wonder what Grantchester will do, maybe he might get more involved with Kenwright out of the picture?? If the rumours are to be believed that is.

It's a good question, I'm aware of the rumours but I can't help think that Moshiri will go alone.

 

[hibbo'sclass]

At 75% he has total control of the club, he can pass special resolutions at General meetings without the support of anyone else (they require 75% majority). Special resolutions include increasing the capital of the company.

At 90% he can force all remaining shareholders to sell their shares to him.

Thanks for the share breakdown, hadn't seen it before.
CA2006 removed the requirement for authorised share capital, but companies incorporated prior to enactment of the provisions had to amend their articles to take advantage of this.
If my reading of the revised articles (2.1) is correct, an ordinary not a special resolution required to increase the share capital. Think I've mentioned this before.

*Awaits castigation and ridicule if incorrect.

 

[The Esk]

Thanks for the share breakdown, hadn't seen it before.
CA2006 removed the requirement for authorised share capital, but companies incorporated prior to enactment of the provisions had to amend their articles to take advantage of this.
If my reading of the revised articles (2.1) is correct, an ordinary not a special resolution required to increase the share capital. Think I've mentioned this before.

*Awaits castigation and ridicule if incorrect.

The Everton articles require only an ordinary resolution to increase the share capital, you are correct

 

[D410]

It's a good question, I'm aware of the rumours but I can't help think that Moshiri will go alone.

What rumours are they esk?

 

[The Esk]

What rumours are they esk?

There's been suggestions that Granchester would be happy to work with Moshiri once Bill and Jon have sold up. I'm not putting much faith in them, I don't even think it is necessary for Moshiri to have Granchester on board as an investor. Think it's a complete non story to be honest.

 

[jinkyali]

Attractive as the offer is, I haven't worked for anyone since 1994, sorry.

Haha.
Not a problem.

In all seriousness thanks for your info

 

[Muggins]

At 75% he has total control of the club, he can pass special resolutions at General meetings without the support of anyone else (they require 75% majority). Special resolutions include increasing the capital of the company.

At 90% he can force all remaining shareholders to sell their shares to him.

Sorry to plague you with questions mate, but do you know what the legality of forcing remaining shareholders to sell is, in a monetary sense?

I suspect Moshiri would honour a current value based on the recent transactions?

 

[Goat]

There's been suggestions that Granchester would be happy to work with Moshiri once Bill and Jon have sold up. I'm not putting much faith in them, I don't even think it is necessary for Moshiri to have Granchester on board as an investor. Think it's a complete non story to be honest.

The biggest question would be why? Why would he work with a man, that we assume he doesnt know?

 

[The Esk]

The biggest question would be why? Why would he work with a man, that we assume he doesnt know?

The logic is that the family still want that Everton association - but it's not a rumour I take seriously.

 

[Goat]

The logic is that the family still want that Everton association - but it's not a rumour I take seriously.

Does seem odd that hes not mentioned at all anywhere like.

 

[The Esk]

Sorry to plague you with questions mate, but do you know what the legality of forcing remaining shareholders to sell is, in a monetary sense?

I suspect Moshiri would honour a current value based on the recent transactions?

Section 979 Companies Act 2006 suggests it would be at the offer price. So let's say for argument's sake he offers £6,000 a share and that takes him to 91% with the shares he owns. Even though the 9% rejected the offer of £6,000 they'd be forced to accept - there's probably some provision to go to Court but I'm not a corporate lawyer so I'm not even going to look....