| Topic: Purchasing the full club |
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| 21. Author: red-star-par Date: Sun 19th Jan 2025. 12:00 Can anyone confirm if they have also purchased the stadium or is that still held by PUCIC? Reply |
| 22. Author: 33Par Date: Sun 19th Jan 2025. 15:58 Masterton still get an annual rent for the stadium. Marootsmin Reply |
| 23. Author: jake89 Date: Sun 19th Jan 2025. 16:09 33Par, Sun 19 Jan 15:58 Masterton doesn`t own EEP. It`s owned by Pars United EEP Ltd (separate to Pars United). Reply |
| 24. Author: NMCmassive Date: Sun 19th Jan 2025. 16:57 I don’t know, I’m absolutely certain that they’re top businessmen and they’ve got at least somewhat a plan for the future but is it just me that slightly nervous about the club being owned basically by 2 individuals? It’s now their club come hell or high water 🤷🏻♂️ (if my understanding is correct? I know I could be wrong) I’m still optimistic for the future like just feels like a slightly more precarious situation COYP Post Edited (Sun 19 Jan 16:58) Reply |
| 25. Author: gthyde Date: Sun 19th Jan 2025. 17:30 red-star-par, Sun 19 Jan 12:00 Stadium is separate to the club and wasn’t sold. Reply |
| 26. Author: 33Par Date: Sun 19th Jan 2025. 21:00 Apologies. Just checked Companies house. Messers Braisby and Garmoray are shareholders in Pars United EEP Ltd. Post Edited (Sun 19 Jan 21:06) Reply |
| 27. Author: par-91 Date: Sun 19th Jan 2025. 21:31 33Par, Sun 19 Jan 21:00 Are you sure they’re not the directors, rather than the shareholders? Reply |
| 28. Author: 33Par Date: Sun 19th Jan 2025. 22:02 Wrong wording by me again……. Directors 🫣 Marootsmin Reply |
| 29. Author: McCaig`s Tower Date: Fri 14th Feb 2025. 22:22 Has there been any update on this? I think the 28 day period mentioned in the correspondence is up today, and thus the resolution adopting new Articles of Association will likely have been adopted. As far I can see, the new A of A are identical to those adopted in 2023, other than the deletion of a pair of square brackets (I assume this is tidying up a typo) and the inclusion of a new article 31.8 which allows proposed sellers (that will be DAFC Fussball Gmbh) to disapply the rest of article 31 (the “Tag Along” option). This raises some questions (some of which I’ve asked before). To answer some myself, I think there are four terms that are used in company takeovers: “Squeeze out” – where new owners can force small shareholders to sell – the threshold for this is 90% of the (value of?) shares. “Sell out” – where small shareholders can force the new owners to buy their shareholding – the threshold for this is the same as above. These are statutory requirements under the Companies Act 2006. In addition, a company can choose to allow other options such as “Drag along” and “Tag along” which are like the above two but with lower thresholds. I assume that the intention was to adopt the new A of A so that DAFC Fussball Gmbh could facilitate the proposed sale. But why do it now? Does this mean the sale hasn’t happened yet? And what is the point of the change if the statutory override would apply anyway? Where do the “Key shareholders” come in? They seem only to be mentioned in order to give Gmbh pre-emption rights (“first dibs”) should they (the Key shareholders) wish to sell. Has anyone received an offer for their shares? Has PUCIC agreed to sell its shareholding? How much are shares going for? Have I understood correctly? Does anyone have any expertise in this area? Edit to add that the resolution appears to have been passed on 18 January and PUCIC and Gmbh are no longer persons with significant control and Bord and Gordon are. Some of my questions remain, however. Post Edited (Fri 14 Feb 23:11) Reply |