The trail of destruction continues...

Followed the plan though so they were fine

 

Equally the rest of us aren't here all day to cater solely for you...

 

There goes I but for the grace of God springs to mind....
Imagine the situation if Conway and Co had got their hands on the councils share of the land...mortgaged up to the hilt loan deals against land ...we folks in my opinion dodged a bullet

 

I get that but eventually something has to give. Not everyone is the devil.

 

CLUB STATEMENT – KV Oostende

“The majority of football clubs in Belgian football have an operational deficit and tight liquidity. KV Oostende is in a similar situation.

The board has taken note of the news that was brought out yesterday by DPG Media Group. We want to assure all sponsors, fans, suppliers and other stakeholders of the club that this information is incomplete. There is no financial mismanagement but a situation of undercapitalization, which we are rectifying in the short term and to comply with our license application.

We want to make it clear that the ownership group remains dedicated to supporting and stabilizing the club and to obtain a license for the 2023-24 professional football season.

We would also like to point out that all players and employees that work for the club have always been properly paid and that the club has successfully passed all monthly intermediate follow up by the license department and intends to keep on doing so. We are aware there are several outstanding suppliers and we intend to on very short term come with a solution to take care of this situation.”

Board of Directors KV Oostende

 

38.75% too much sooner its zero and they **** off the better.

 

My understanding is the shareholder needs 75% and remaining have to have less than 25% to force a sale.
Might be a bit more complicated than that but I think that’s the basis.

Chien is a long way off 75% and can’t imagine him getting there either.

 

Haven't got time at the moment to do it justice but in short it is becoming increasingly clear that Conway and Co. have allegedly used Oostende as the 'hub' for their continental 'dealings'. They inherited a decent squad in Belgium and have made several multi-million euro sales of players that should have seen Oostende into a healthy position financially. However, it appears that a large percentage of those receipts have been routed back through into keeping Chien/Conway's biggest failure AS Nancy (just about) afloat.

Check out the movements of winger Mickael Biron, for example, bought by Oostende from Nancy for a highly inflated fee, reported at 5 million euros. Biron was then loaned straight back to Nancy for 2 seasons. When Nancy were relegated last season, the loan was terminated and Biron was sold at a knock-down price to Conway's mate who owns RWD Molenbeek (the same club Obbi Oulare is at). Biron never played one game for Oostende but cost them around 4 million euros net!

I'm sure an investigation into the inter-relationships of AS Nancy, Oostende, RWD Molenbeek and Standard Liege (the origin club of Obbi Oulare and owned by another of Conway's mates) would be very, erm, 'interesting'.

 

It has been shown many times. I can't be arsed to look for it mindst.

Edit. Just seen Marc's response.

 

I seem to remember at the first meeting after the removal of lee and Conway from the board. Neither had contacted the majority shareholders (50%+) and it may be reasonable to think that is still the case.
I also got the impression that because of further investment from the present board. New shares can be/were created. Thus possibly diluting the stake of the other 2. If they didn't contribute more.
Others may be more informed. To contribute to my post.

 

Ive been wondering about this. Whats stopping the board from injecting more and more and more until office above a shop and john candy's twin say **** it and stop contributing thus diluting their shares?

 

There’s naïveté around the ownership. 2 people own nearly 40% of the shares. It’s not correct to say they have no influence. By doing nothing (say refusing to invest) they have an influence.

All I can really see that changed was the nomination of the proxy. This could change at any point unless I’m missing something vital.

 

If they refuse to invest then their holding gets diluted, that's why they did invest in the latest share issue. There is no longer a proxy, the only way Conway and Chien get back on the board is if Neerav, JAQ or Mrs Cryne vote for it

 

At this point Chien has continued to invest though Conway hasn’t as far as I am aware. For clarity I meant invest in the long term strategic planning of the club. They can do that. It’s just beyond naive to think that people who own 40% of something have no influence. They influence can be active or passive but it does exist. As for board composition as you say it could be changed at any time. The owners chose the Conway model. They could do so again.

JAQ is the proxy.

https://www.barnsleychronicle.com/a...-board-member-quay-we-had-to-protect-the-club