[Official Site] CLUB STATEMENT

Discussion in 'Bulletin Board' started by Newsbot, Aug 18, 2020.

  1. Sup

    SuperTyke Well-Known Member

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    That's how I understood it. The Cryne lot own (via holdings Holdings ltd) 20% of the Hong Kong Company
     
  2. MexboroughTyke

    MexboroughTyke Well-Known Member

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    Yep, that’s correct.
     
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  3. BarnsleyReds

    BarnsleyReds Well-Known Member

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    As a Director. That doesn't prove shares, just that he's on the board.

    The Club Is a 100% subsidiary of BFC Investment Company. As seen below.
    https://www.barnsleyfc.co.uk/company-details/

    The only way for 'The Cryne Family' to have shares in that is for them to be through another company. Otherwise they'd be listed as individuals.
     
  4. Sup

    SuperTyke Well-Known Member

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    Can't be arsed. You're welcome to search the BBS to find them if you want.

    I'll give you a few starters though. Best transfer window in clubs history. Complete ******** that was.

    Club record transfer broken. Complete ********.

    Can't give any info regarding stendels sacking for legal reasons. Magically changed to out of respect after he blabbed to Scottish papers. Utter ********.
     
  5. MexboroughTyke

    MexboroughTyke Well-Known Member

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    As above, Oakwell Holdings has 20% of the shares in BFC Investment.
     

    Attached Files:

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  6. Gimson&theBarnsleys

    Gimson&theBarnsleys Well-Known Member

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    Millmoor's still there doing nowt. They could spend £50 doing Tivolly up and re-opening that enorl.
     
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  7. Gally

    Gally Administrator Staff Member Admin

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  8. Fon

    Fonzie Well-Known Member

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    I've found it I think.
     
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  9. nezbfc

    nezbfc Well-Known Member

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    So oakwell holdings are taking to court the Investments company. Of which it owns 20% of

    Brilliant
     
  10. Sup

    SuperTyke Well-Known Member

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    Its all the rage thes days. Wigan blamed its own owners business decision as a reason for appeal.
     
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  11. red

    redrum Well-Known Member

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    You forgot when they used to appear in the away ends and conway told fans at burnley away exciting transfer window coming etc and bulling it up.... we the sold brad potts and signed green and miller....

    I honestly dont know what yo make to all this obviously more to it than this statement and it's only one side of the story, but if conway told me it was raining outside I'd have to go and have a look before believing him.
     
  12. Sup

    SuperTyke Well-Known Member

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    If he told me it was raining I wouldn't bother to check, I'd slap on the factor 5% and go out in a pair of Speedo's.
     
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  13. Durkar Red

    Durkar Red Well-Known Member

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    They say in the statement they bought 80% of the club with the Crynes owning 20%
     
  14. BarnsleyReds

    BarnsleyReds Well-Known Member

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    They own 80% of the club, as they own 80% of BFC Investment, which owns 100% of BFC.
     
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  15. BarnsleyReds

    BarnsleyReds Well-Known Member

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    So basically Oakwell Holdings are suing their parents for withholding pocket money.
     
  16. blivy

    blivy Well-Known Member

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    This is my guess also, although there are a few things that don’t add up.

    If you look at the Articles of Association of Oakwell Community Assets Limited (they’re on Companies House) you can see that there is a right of first refusal written into Article 9. This means that if either shareholder wants to sell their shares they must first be offered to the other shareholder for the same price (and even if the other shareholder doesn’t agree to this price, they can still acquire the shares for “fair value“).

    What may have happened is that Chien and Co exercised their option, but under the Article 9 the shares must first be offered to BMBC and BMBC exercised its right of first refusal. This would then take priority over the option agreement (given the articles are a binding agreement between all shareholders).

    However, what confuses me is that this set of articles were executed at the same time as the sale of the club. The statement says that this option was in place for a number of years, but the previous set of articles makes no reference to the right of first refusal. So perhaps BMBC have separate option that is more than just a right of first refusal.

    The other part that confuses me is that rights of first refusal are commonplace, so it would be very surprising if any party had overlooked this. Again, this suggests that perhaps it’s something a little more complex.
     
    Last edited: Aug 18, 2020
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  17. Che

    Chef Tyke Well-Known Member

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    Exactly - something doesn’t quite ring true about it being a complete shock - something that is so elementary would have been picked up via due diligence and disclosure surely
     
  18. Jimmy viz

    Jimmy viz Well-Known Member

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    this.
     
  19. ade

    ade Well-Known Member

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    I seem to recall someone either on here or Facebook saying that Patrick told James not to sell their share of the ground just before he passed on. Could it be that James or his mum as an individual - and distinct from the family company - is the 3rd party that has first dibs? This would explain 'the club' statement saying they had tried all avenues to reach an agreement with the family. It might also explain why it was overlooked when the sale to the consortium went through.
     
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  20. pon

    pontyender Well-Known Member

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    I'm thinking along those lines as well. It would be much more attractive proposition to a buyer if the ground option has been taken.
     

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