Views From The Sieve

The Independent Dagenham and Redbridge forum

Oh And Another Thing

Discuss all matters related to Dagenham and Redbridge

Oh And Another Thing

Postby SUSSEX DAGGER » Fri Feb 09, 2018 12:21 am

Perhaps somebody more converse with these matters could enlighten me as there is something about our current state of affairs that I don't understand and would be obliged if somebody could help.

The Club statement issued on Monday gave a lot of information, but excluded something that is causing me concern .

There is a number of People who have expressed a desire to start raising funds to help keep our great Club afloat. These People are wonderful good hearted People and I think once People start donating the Club have to become more open.

The Club said in their statement that Mr Hopkins resigned as a director, I fully get that.

I fully get that until the Club is sold Mr Hopkins remains the largest shareholder at the Club.

Mr Hopkin has informed the remaining Members of the Board that he will not be giving anymore financial aid to the Club , I get that.

How anybody can just walk away after spending only weeks earlier 1 million pounds on buying the shares I find myself saying "oh come on,really" , however for the sake of the argument I will accept that this is what has happened.

Things that I don't get and something that should alarm us all.

The statement says that the Club is currently looking for a new buyer and that it is being Marketed . The question I want the answer to is that nobody can hope to buy this Club unless they buy the shares of the current shareholders and only if those who currently hold them are prepared to sell.

If this marketing happens to find somebody then another legal and expensive due diligence process has to be undertaken.

What is not included in the statement is who picks the bill up for it. We will not be talking chicken feed here , I would expect these cost to be at least 10% of the money that changes hands.

Surely that bill has to be met by those buying and selling the shares . also is it not up to those who wish to sell the shares the shares to do the marketing and not Dagenham and Redbridge Football Club.
SUSSEX DAGGER
 
Posts: 1891
Joined: Sun Oct 20, 2013 1:47 am

Re: Oh And Another Thing

Postby Adrian » Fri Feb 09, 2018 7:32 am

The statement doesn't say what is being sold or who the consultant has been engaged by.

It says that Hopkin has remained a minority shareholder. It's possible that he's given some shares back to the company for nothing so that they can be sold to someone else.

The sale/purchase of shares is only as complicated as the parties involved want to make it.
Adrian
 
Posts: 1092
Joined: Mon Apr 07, 2014 3:09 pm


Return to Discuss all things Dagenham and Redbridge

Who is online

Users browsing this forum: ARNU, Google Adsense [Bot] and 15 guests