Eastendtales Posted October 10 Report Posted October 10 Companies House showing filing for a Memorandum and Articles of Association. Anyone know what this means? This last happened right before Cook became a director in 2022. Quote
parsforlife Posted October 10 Report Posted October 10 3 hours ago, Eastendtales said: Companies House showing filing for a Memorandum and Articles of Association. Anyone know what this means? This last happened right before Cook became a director in 2022. Reading the ones from 2022 there's a lot in there that needs tidied up just to allow a sale, nevermind how we function as a business whilst GmbH are involved but their agenda is different. Does suggest something is in action. We'll know what's been changed once companies house processes it but I'd guess if it was significant there maybe a statement put out first. Quote
Tartan Army Par Posted October 10 Report Posted October 10 A memorandum and articles of association are two legal documents that are required for all UK limited companies to be incorporated with Companies House: Memorandum of association A legal statement signed by the company's initial shareholders or guarantors that states their intention to form the company. It also lists the names of the first shareholders or guarantors. Articles of association A set of written rules that govern how the company will be run. These rules are agreed upon by the shareholders, directors, and company secretary. The articles of association outline the company's purpose, the rights and responsibilities of its members and directors, and how the company will operate. Together, the memorandum and articles of association form the basis of the company's constitution. Quote
parsforlife Posted October 13 Report Posted October 13 The articles are now available to view. Having a quick scan through them the only change I can see is to increase in the number of shares available for GmbH to buy, and given there was already enough available to take them up to 80% when the loan note is converted then i don't think taking the additional shares changes too much. Quote
Piracy Posted October 22 Report Posted October 22 Hope we're close to getting new owners in place. The club is essentially in a period of imobilty at the moment. The morale is ebbing away from the club, it's f*cking torture being honest. 2 Quote
El Patrón Posted October 22 Report Posted October 22 9 minutes ago, Secure Par said: Looking at the club in its current state I think it would only be a rich long term fan or a Saudi millionaire wanting to launder money. The state of the club on the outside…a ****ty 4G artificial pitch with portakabins round that is our academy…stadium needs a lot of work done.. I would say whoever comes in would need 8-10 million to invest to get the team in top 5 premier league…the Germans have a lot to answer for after all their promises..maybe Mr Cook could come out and tell us what is going on?? Apparently he’s away on holiday. 1 Quote
Kdy Par Posted October 22 Report Posted October 22 2 hours ago, Secure Par said: Looking at the club in its current state I think it would only be a rich long term fan or a Saudi millionaire wanting to launder money. The state of the club on the outside…a ****ty 4G artificial pitch with portakabins round that is our academy…stadium needs a lot of work done.. I would say whoever comes in would need 8-10 million to invest to get the team in top 5 premier league…the Germans have a lot to answer for after all their promises..maybe Mr Cook could come out and tell us what is going on?? Is he not allowed to go on holiday? The four interested parties have signed NDAs so he can’t give much of an update. The aim is to have the deal completed by Xmas I believe. 1 Quote
Piracy Posted October 23 Report Posted October 23 It's important the club get time to do their business as we need to get this right. Unfortunately that doesn't change the fact we're walking along a dark corridor bumping aimlessly off walls not knowing where the exit is (or at least that's what it feels like to me). Anyway, just need to be patient. 3 Quote
Superally Posted October 23 Author Report Posted October 23 I think there is a outside chance this could be done by Xmas. What worries me is that any investor allows this to drag on past Xmas and we find ourselves in a situation where we are relegated and it gets to a point that any investor may then feel they would benefit more if the club was in administration. Quote
da_no_1 Posted October 23 Report Posted October 23 17 minutes ago, Superally said: What worries me is that any investor allows this to drag on past Xmas and we find ourselves in a situation where we are relegated and it gets to a point that any investor may then feel they would benefit more if the club was in administration. Speaking completely without any knowledge of who is in the mix I'd be really disappointed if this is how it ended up, given the efforts of everyone involved since 2013. 1 Quote
Superally Posted October 23 Author Report Posted October 23 7 minutes ago, da_no_1 said: Speaking completely without any knowledge of who is in the mix I'd be really disappointed if this is how it ended up, given the efforts of everyone involved since 2013. I agree, but if you look at the Inverness situation, It seems clear that there are a few investors circulating, but I do wonder that once ICT is now in Admin it may be more viable to them. There is too much speculation and conspiracy theories ATM, I suppose what @Piracy said is "patience" is what's required. 1 Quote
da_no_1 Posted October 23 Report Posted October 23 4 minutes ago, Superally said: "patience" is what's required. What is this phenomenon you speak of? Quote
El Patrón Posted October 23 Report Posted October 23 11 hours ago, Kdy Par said: Is he not allowed to go on holiday? The four interested parties have signed NDAs so he can’t give much of an update. The aim is to have the deal completed by Xmas I believe. He can do what he wants clearly. Personally, if I was the CEO of a professional football club then I would probably schedule any holidays during the close season, or at a very minimum so that they didn't clash with home games. I would probably also try to avoid going on holiday when the club is going through a sale process as I imagine the CEO may have an important role to play in that. Quote
DA-go Par Adonis Posted October 23 Report Posted October 23 I don't see why administration would be attractive to any new owner - given, as far as we know, the only debt as such is in the form of convertible loan stock to the current owners and which isn't repayable. A new owner would need to come to a deal with the current incumbents and work out a way for income to match expenditure at some point, but administration doesn't factor in to either of those issues. 2 Quote
SanguinePar Posted October 23 Report Posted October 23 Does DC have kids? Maybe he took time off for the school holidays? Or maybe it's a more personal reason? It's really none of our business. I also don't see any harm in it tbh. An organisation that can't function for a short time without its chief exec is not a well run one IMO. I have plenty issues with the running of the club, but not with DC having a holiday. 9 1 Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.