Dick Knight Share Dispute - Unnamed Director offer £0.01 per share

[Don Quixote]

Dick has always had a huge ego. At Withdean there was never game where he wasn't on the pitch, microphone in hand, at half time.

 

[Chicken Runner61]

TB is no mug he ploughs in as a supporter of the club what he feels is appropriate to what his family can afford. All his loans are covered by real assets like infrastructure and a smaller controllable amount on players and wages.

He tries to employ top professional people to run the bits he has not got time or the skills to oversee himself and places his family in the position of being good owners and fans without risking his wealth too much.

We can't ask much more and its up to the club and its staff to push this on.

Dick on the other hand ran the club from his heart and risked far much more of his life and money at a time when the club was at its darkest hour.

In good times we probably need TB's money and business acumen but I can't see him doing what DK did in bad times - the Blooms kept a low profile through the archer / Bellotti /Gillingham and even Withdean years.

Perhaps DK needs a bit more respect for what he did but perhaps he should have put in place some protection for his association with the club before he passed it back to TB -

 

[Thunder Bolt]

eh? unless im mistaken, the current shareholders are the same as those under Knight, and the "cronies" are the same that supported the club through the dark days.

Marc Sugarman, Peter Godfrey & Adam Franks were brought in by Tony Bloom after he became chairman.

 

[Chicken Runner61]

Dick has always had a huge ego. At Withdean there was never game where he wasn't on the pitch, microphone in hand, at half time.

Thats probably why fans who rule with their heart shouldn't run the club - I don't really think he was doing it at every game but the best chairman keep a low profile.

I think its shows when we have problems when TB appears on TV and starts making statements all the time

 

[El Presidente]

This would be resolved if the person willing to pay a pound for DK's shares offered the same amount to the other minority shareholders.

 

[Bozza]

Marc Sugarman, Peter Godfrey & Adam Franks were brought in by Tony Bloom after he became chairman.

They might be directors, but are they shareholders? There's a massive and significant difference.

 

[symyjym]

At the risk of putting down both DK and TB I'd like to suggest the real hero for delivering the stadium was actually good old Martin "Brutus" Perry.

 

[Tom Hark Preston Park]

View attachment 54163

That photo is clearly photoshopped, MP would NEVER be seen in public without his trusty blue anorak (well, apart from that one time he paraded round the running track at Withdean dressed as Austin Powers)

 

[symyjym]

That photo is clearly photoshopped, MP would NEVER be seen in public without his trusty blue anorak (well, apart from that one time he paraded round the running track at Withdean dressed as Austin Powers)

This was actually taken at a toga party, but he felt the need to outdo everyone.

 

[Tom Hark Preston Park]

This was actually taken at a toga party, but he felt the need to outdo everyone.

Sorry but I don't believe you. MP is dyslexic. He went dressed as a goat.

 

[Goldstone1976]

Sorry but I don't believe you. MP is dyslexic. He went dressed as a goat.

But, of course. He's a long-standing fan and was making reference to Goat 'em Brighton. Simple, really.

 

[Weststander]

Is the resentful person Derek Chapman? He was seemingly put forward by the anti-DK establishment to put the other side of the arguments when DK's book came out.

 

[Mutts Nuts]

Very sad. This is no way to treat the man who saved this club.

I know some on here feel we have moved on, and are sick of hearing about how DK saved us, BUT HE DID.

This

 

[Mutts Nuts]

Time to STRIP the POTLESS pillock of his life presidency and EXPEL him from the directors box

what is going on behind the scenes, 2 managers leave in consecutive seasons due to the boards lack of ambition and the guy that saved us is being treated like a xxxt

 

[Not Andy Naylor]

As usual, this seems to come down in the minds of many on here as DK versus the board or TB. Now I may have missed it, but nobody seems to care about the wishes of those people who are interested in buying club shares.

I don't suppose for a minute that most of them want to ask difficult questions at the AGM. I imagine they'd quite like to own a small piece of the club they love, and have a framed share certificate on their wall - nothing more.

So it's a bit pathetic if someone at the club - with or without Tony Bloom's knowledge (and I don't personally believe TB would even care) - is trying to frustrate that desire just to annoy Dick Knight.

 

[Mutts Nuts]

As usual, this seems to come down in the minds of many on here as DK versus the board or TB. Now I may have missed it, but nobody seems to care about the wishes of those people who are interested in buying club shares.

I don't suppose for a minute that most of them want to ask difficult questions at the AGM. I imagine they'd quite like to own a small piece of the club they love, and have a framed share certificate on their wall - nothing more.

So it's a bit pathetic if someone at the club - with or without Tony Bloom's knowledge (and I don't personally believe TB would even care) - is trying to frustrate that desire just to annoy Dick Knight.

If any one wants to sell any shares i am willing to offer 2 pounds each for them,i only want 10 though

 

[Creaky]

Perhaps it's not the 'club' blocking the sale, but another existing minority shareholder who is unhappy at DK getting £1 a share?

The other investor, who stuck his hand in his pocket during the days before Tony Bloom when it was a knife edge whether the club would survive, is not being offered £1 a share, and feels resentful, therefore has invoked the Articles of Association.

I have done a valuation of the shares, albeit based on information in the public domain, that effectively values the shares at zero. It is possible to use other valuation models that produce a share value of 3-18pence per share, but they ignore to a large extent that TB wrote off £40 million of debt in 2012 ( and I think he's written off a further eight figure sum since then).

The club is between a rock and a hard place. Issuing shares to a few hundred fans is an admin job for a couple of days, but not significantly expensive, so they have little objection as the cash for the sale has no impact on their finances. The dispute is between DK and another investor, and it's being played out in the local media, when it would be far better dealt with behind closed doors.

Whoever it is that has made the 1p offer, and whatever their motivation, the effect is simply to block the sale of a nominal number of shares to a few hundred fans. Again, whatever DK's motivation for selling the shares may be then, should the sale go ahead, the effect will simply be a nominal nmber of shares being held by a few hundred fans.

There is no reason why information regarding this potential sale should be held behind closed doors when the result will decide whether a number of fans, (members of the public), will be allowed to hold shares.

I'd like to see the club in the form of its directors make a public statement and either support those fans who wish to buy a few shares or support the existing shareholder who wants to stop them doing so. Either the club supports those fans or it doesn't, keeping quiet suggests to me that it is the latter.

 

[Beach Hut]

Whoever it is that has made the 1p offer, and whatever their motivation, the effect is simply to block the sale of a nominal number of shares to a few hundred fans. Again, whatever DK's motivation for selling the shares may be then, should the sale go ahead, the effect will simply be a nominal nmber of shares being held by a few hundred fans.

There is no reason why information regarding this potential sale should be held behind closed doors when the result will decide whether a number of fans, (members of the public), will be allowed to hold shares.

I'd like to see the club in the form of its directors make a public statement and either support those fans who wish to buy a few shares or support the existing shareholder who wants to stop them doing so. Either the club supports those fans or it doesn't, keeping quiet suggests to me that it is the latter.

The motivation was purely to sell more of his pathetic book and why should the directors let there be other share holders when one person alone paid for our new stadium.

This is all about jealousy over who now owns the club and pays the bills.

You would think enough was enough and just walk away, this is now showing some very true colours by certain people.

 

[symyjym]

If any one wants to sell any shares i am willing to offer 2 pounds each for them,i only want 10 though

If you include a £10 admin fee I will get them to you.

 

[Creaky]

The motivation was purely to sell more of his pathetic book and why should the directors let there be other share holders when one person alone paid for our new stadium.

This is all about jealousy over who now owns the club and pays the bills.

So the money paid week in week out by fans for tickets, merchandise, food etc has made no contribution? - don't be silly!

The shares being offered are of purely nominal value, by all means value them at 1p each if that is what you believe they are worth, but don't stop fans from holding them which is simply what the existing shareholder who is trying to block their sale is doing.