[Official Site] CLUB STATEMENT: NEW BOARD OF DIRECTORS

Discussion in 'Bulletin Board' started by Newsbot, May 12, 2022.

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  1. Barnsleyshaun

    Barnsleyshaun Well-Known Member

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    I’m over the moon with todays news, but still a little unsure - if Archerfield is stating chien Lee still has 25-50% of shares that’s still a bit of an issue, even though he has no direct right to make operational decisions- let’s be realistic if you’re on a board of directors and one guy owns 50% of the company you would ‘ordinarily’ be wanting to do things to please him and may be influenced by his ‘vision’.

    im hoping that the breakdown between him and the other shareholders who are now perhaps also directors? is such that they don’t give a toss and he is isolated and will actually want out.

    Also a change in the directors is great - the incompetent seem to have gone but we have to remember the board can still only work with funds they create themselves through the success of the club or if the investors are willing to put more cash in, if the investors are the same there’s no saying they’re going to do that - particularly Chien Lee. Unless there’s been a change of heart or if there is actually someone new behind the scenes too.

    A definite step to the good for me, let’s hope it keeps working out for the better. Much happier today than yesterday for sure.
     
    Barnsleyshaun, May 12, 2022
    #241
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  2. Marc

    Marc Administrator Staff Member Admin

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    Isn’t the theory that we’ve gone off the rails because we’ve deviated from the data model though? Big money punts like Oulare and Iseka, that were completely off plan? I agree though, can’t all be data driven. Always believed that. But a lot of great signings did come from Cryne’s model.
     
    Marc, May 12, 2022
    #242
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  3. Loko the Tyke

    Loko the Tyke Administrator Staff Member Admin

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    The stats sheet that identified Hourihane, Scowen, Winnall, Mawson, Roberts, Angus MacDonald, Lindsay, Pinnock, Moore, Morris, Helik, Madds, Brittain, etc.

    It also identified some players that didn't come off, like Schmidt, Thomas, Frieser and others. But I'd say it's largely been more successful when used than unsuccessful. And rarely does a team get their recruitment to be universally successful (including us over the years).
     
    Loko the Tyke, May 12, 2022
    #243
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  4. Hooky feller

    Hooky feller Well-Known Member

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    James was indeed a stats provider on players. But the difference for me was. Experience and age were not ignored.
     
    Hooky feller, May 12, 2022
    #244
  5. Loko the Tyke

    Loko the Tyke Administrator Staff Member Admin

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    Chien Lee doesn't own 50% of the company.
     
    Loko the Tyke, May 12, 2022
    #245
  6. Arc

    Archerfield Well-Known Member

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    Yes go on companies house and look.
     
    Archerfield, May 12, 2022
    #246
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  7. Arc

    Archerfield Well-Known Member

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    Have a look on companies house, it’s there in black and white. Hopefully not mansplaining today
     
    Archerfield, May 12, 2022
    #247
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  8. thetykester

    thetykester Well-Known Member

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    I chuffin can't, I have no idea what tha talking about though o_O
     
    thetykester, May 12, 2022
    #248
  9. Hooky feller

    Hooky feller Well-Known Member

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    As OMB states jud. It's the impression I get from the statement. Results on the pitch.
    The previous season was seen as a failure by Conway. Due to lack of player sales. Worra nob statement that was. It was probably that comment that started turning me against the board. I knew the strategy from day one. And accepted it.
    We live and learn. (Same with those tha evin to feight with at work. Good luck with that btw.) The latest may not be the end. But I can see light at the end of the tunnel. I know you were more downbeat than me. But hopefully your spirits have been lifted a bit. :cool:
     
    Last edited: May 12, 2022
    Hooky feller, May 12, 2022
    #249
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  10. She

    Sheriff Well-Known Member

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    That information comes from the Persons With Significant Control (PSC) register on Companies House. The banding is 25% to just below 50%, as a 50% shareholding would put him in the next category (50-75%). I've had to familiarise myself with these categories this week due to a change in shareholding in the company I work for, which requires changes to the register.

    Significantly, his shareholding within the investment company which owns 100% of BFC was insufficient for him to vote to keep himself on the board of directors. There's no logical reason why he'd allow himself to be removed from it if he had the ability to vote to keep himself on it.
     
    Sheriff, May 12, 2022
    #250
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  11. Loko the Tyke

    Loko the Tyke Administrator Staff Member Admin

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    I said he doesn't own 50%. Where am I going wrong?

    upload_2022-5-12_19-14-23.png
     
    Loko the Tyke, May 12, 2022
    #251
  12. thetykester

    thetykester Well-Known Member

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    At what? I haven't a clue abart that side of things. Has company house been updated? I have not a scoobydoo.
     
    thetykester, May 12, 2022
    #252
  13. Gegenpresser

    Gegenpresser Well-Known Member

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    Until someone can identify to me who now actually owns the shareholdings in the club and in what percentage, such that I can then go on to conclude there has been a positive change occurring here, I am struggling to get excited.

    The main positive seems to be that Conway doesn't get placed in charge by default to wreak havoc (a.k.a making best transfers) when we have no staff left at the end of any relatively successful season.

    Otherwise, the fog has yet to clear.

    And the covenant will still be there when it does......
     
    Gegenpresser, May 12, 2022
    #253
  14. Marc

    Marc Administrator Staff Member Admin

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    Would you ‘ordinarily’ be wanting do those things though? Why? He has no say, he’s not a Director, definitely has no vision and there’s no financial dependency. I don’t see any scenario why the new Board would somehow need to pander to him as a shareholder. He has stock, but nothing more than that.

    As I understand, the worst thing that could happen if he wasn’t happy with Board decisions was two things: sell his shares, and/or exercise his voting rights at AGM. Hopefully he does the former. Brilliant. The latter, meh. Means nothing really.

    I’d love Archerfield’s view on this though.
     
    Marc, May 12, 2022
    #254
  15. andytyke

    andytyke Administrator Staff Member Admin

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    Isn’t it just as simple as Conway and co were just running the club for a group of investors, they did a really sh|t job so now they been booted out. ?
     
    andytyke, May 12, 2022
    #255
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  16. Exi

    Exile Well-Known Member

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    My understanding (I'd on my own back been trying to get behind the ownership of the Hong Kong company) is that Chien Lee owned 29.8%. Hence why he is in companies house as owning greater than 25% and less than 50%.
     
    Exile, May 12, 2022
    #256
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  17. She

    Sheriff Well-Known Member

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    Calling b.ulls.hit on my own post before someone else does. Its >25% and <=50% in that banding.

    The 2nd paragraph is the relevant info which indicates it's not a 50% shareholding as he'd be able to block a vote to remove him.
     
    Sheriff, May 12, 2022
    #257
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  18. Barnsleyshaun

    Barnsleyshaun Well-Known Member

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    thats why I said ‘ordinarily’ - if I was employed by a company and it was 50% owned by someone you are in effect working for them. It would make sense to do things that benefits them and in principal they agree with. I’m hoping here that doesn’t exist and under these circumstances we are actually working with the other shareholders and trying to isolate him.
     
    Barnsleyshaun, May 12, 2022
    #258
  19. Dep

    Deputy Dawg Well-Known Member

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    I believe so
    Now Julie Quay is representing the majority shareholders shares instead of the previous people who were doing it
     
    Deputy Dawg, May 12, 2022
    #259
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  20. Sup

    SuperTyke Well-Known Member

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    Good now fêck off
     
    SuperTyke, May 12, 2022
    #260
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