BFC Investment Company

So you're saying JAQ and her husband now have 20% in their own right and Neerav at least 25%. So with the Crynes still at 20% the board now owns 65% and ConLee down to 35%?

 

New owners imminent. ??

 

If the JAQ consortium owned 20% in total then she and her husband can’t now have 20% as Neerav bought some. Can’t be far off though.

 

Yes you're right, having reread Gally's post. But both JAQ and Neerav have increased their personal stakes, which is encouraging, and in doing so have taken out the 3 silent investors and tidied up the ownership situation.

 

Interestingly we don’t know who bought who, but based on figures on the OP if Neerav bought out the biggest 2 he would take over as the biggest shareholder.
Would be interesting to know.
@Archerfield anything on what you saw suggest either way?

 

I thought he had said over 25% for Neerav. I dont take that to mean over 30% which he would need to overtake Chien.

 

Taken from OP, which if he bought 2 out depending on which 2 he bought out, he could be over 30%.
If his info was taken off Companies House, significant doesn’t tend to tell you the exact shares but over 25% has to show.
In short I don’t know.

Holdings Collectively Represented by Julie Anne Quay 20.00%

JAQ 20.00% consisting of:-

Jamakepe Investments LLC 3.25%

LP303 LLC 2.75%

Joshua D Samuelson 5.00%

Zachary J Schreiber 9.00%

 

Bump

 

As soon as the new holdings are published on the Hong Kong site, I'll put 'em on here but as of this morning they aren't there.

Sometimes it takes a while between the share changes happening and details of them being available on the Hong Kong site. For example, the share issue that took place on 23rd June (the £1m) wasn't documented in Hong Kong until 29th August and it was published on 19th September.

 

The paperwork for the latest allotment of shares was filed by the club on 28th October and has become viewable on the Hong Kong Companies Registry from today.

This shows a couple of things:-

1) Consolidation of the number of shareholders; and
2) Increased share capital of £3.2m underpinning the investment that was announced to fund the club through to January.

On the first of these the return confirms that Neerav has obtained the shares of Zachary J Schreiber (9.00%) to take his holding up to 30.25% and that JAQ and her husband have acquired the shares of Lee Pollock/LP303 LLC (2.75%) to take their total to 6%.

The revised shareholdings from this return are:-

'A' Shares (80%)

Chien Lee 31.25%

Neerav Parekh (Abhajay Trade and Commerce Limited) 30.25%

Conway/Hung (Pacific Media Group) 7.50%

JAQ/Husband (Jamakepe Investments LLC) 6.00%

Joshua D Samuelson 5.00%

'B' Shares (20%)

Cryne Family (Oakwell Holdings Limited) 20.00%

With regards to the £3.2m additional share capital the return shows that a further 16,000,000 shares were issued at a price of 20p each. The share issue was taken up by all shareholders in line with the above percentages.

 

Thank you for taking the time to keep us updated

 

Seconded, thank you.

 

Thanks for this.
Does that mean that Chien has put in circa £1million of the £3.2?

 

Cheers for that mate. Whats the difference between A&B shares, I've no idea about shares of any kind.

 

Yes, it does indeed.

 

In this case the A and B shares are a distinction specific to BFC Investment Company. It distinguishes those who initially paid to buy 80% of the club (A) and the Crynes (B) who received a 20% shareholding as part of the purchase price.

In practice the main difference seems to be in terms of respective powers to appoint to the Board (of BFC Investment Company). The majority A shareholders can appoint up to 4 members of that Board. Neerav's 30.25%, plus JAQ's 6% and the 5% she votes on behalf of Donaldson hold the majority over Chien's 31.25% and Conway/Hung's 7.50% by 41.25% to 38.75% hence Neerav and JAQ being in the ascendancy.

The B shareholders can appoint one member to the Board of BFC Investment Company which, given the Crynes are the only B shareholders, effectively gives them or their nominee a place on the Board in perpetuity, unless they sell their shares.

 

Thank you, I find that actually quite reassuring.

 

Worth pointing out that if he didn’t put money in he would have ended up essentially giving up some of his ownership % as others would have been able to put more money in to buy more shares.

 

Yeah I know, but if he had lost interest it could have been easier to take a slightly less %. Putting the money in could suggest he still has some interest.