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

[PILTDOWN MAN]

Even me? DK said he always intended fans to have some shares before Tony Bloom was ever capable of becoming the chairman. Maybe you should read the book?

Didn't do it though.

 

[Tom Hark Preston Park]

I'd like a share. How do I apply?

I think you have to buy Dick Knight's book.

 

[Creaky]

[MENTION=31]El Presidente[/MENTION] has already posited a credible reason - in post #174 - where he says,

".....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."

The implication of El P saying "If it was 290 shares being sold to 290 fans for £1 each this issue wouldn't exist." is that the other shareholder wouldn't have an issue if it were a purely nominal number of shares being traded at an inflated price (by normal valuation models). The fact that it is 100k shares is what the issue is - is what El P is implying.

All of which is an entirely credible proposition and all of which is absolutely nothing to do with TB, if that is what is happening.

Of course EP could be perfectly correct with that hypothetical and if he is then it all boils down to someone begrudging DK receiving a 'windfall'. Essentially very petty and if correct, something I'd like to see other shareholders who want BHAFC to be a community club denounce. Silence only suggests support for the person attempting to block the sale and if the reason behind this is as petty as EP suggests doesn't enhance the reputation of anyone supporting them!

 

[BensGrandad]

Good job DK didn't take that attitude iro Bill Archer.

There is clearly some petty vendetta going on here against DK. As others have said, TB should make it clear where he stands on this matter

TB has made his point he outed DK when he became surplus to needs and no doubt holds the same view now. It must be remembered that DK held the position of Chairman because at the time it suited TB and the other wealthy fans who kept the club afloat. Had it not he would have been removed sooner than he was.

 

[El Presidente]

So what is the realistic difference between 290 shares being sold and 100,000? - Unless of course you begrudge DK receiving a little 'windfall'. There is no practical difference that I can see.

I don't begrudge DK anything, he walks on water for his efforts IMO.

However, other MINORITY investors in the Albion see it differently, and do resent DK getting a large proportion of his investment back, whilst they get nothing, and no credit for their efforts either.

 

[Weststander]

Because the dispute has nothing to do with TB.

Could TB resolve all this by buying out all the minority shareholders at a mutually agreed price, anything up to a £1 a share, to bring closure to this tedious affair? Even 50p in the £1 would give up to six-figure part-recompense to the various investors who were very generous when there was no guarantee of a new stadium ever happening.

 

[Thunder Bolt]

And that is a bad thing? (even if it did actually transpire). What a short memory you have.

As a mate of Greg Stanley, he has a very short memory.

 

[Creaky]

I don't begrudge DK anything, he walks on water for his efforts IMO.

However, other MINORITY investors in the Albion see it differently, and do resent DK getting a large proportion of his investment back, whilst they get nothing, and no credit for their efforts either.

If your supposition is correct then I would have a far higher opinion of them if the offer had been for 1p with the proviso that on their purchase they would be immediately offered for sale at that price to those fans who had expressed an interest in purchasing them.

 

[symyjym]

I don't begrudge DK anything, he walks on water for his efforts IMO.

However, other MINORITY investors in the Albion see it differently, and do resent DK getting a large proportion of his investment back, whilst they get nothing, and no credit for their efforts either.

Wealthy people feeling cheated? You cannot take on the persona of being altruistic and be financially envious in the same breath.

No doubt when the club makes it to the Prem all the current shareholders will profit in some shape or form and that is the gamble the investors have taken. Or they can sell their shares to the fans?

 

[Pondicherry]

I don't begrudge DK anything, he walks on water for his efforts IMO.

However, other MINORITY investors in the Albion see it differently, and do resent DK getting a large proportion of his investment back, whilst they get nothing, and no credit for their efforts either.

There was nothing (and still is nothing) to stop them doing exactly what DK has done (apart from he thought of the idea first). It still looks petty and the club as an entity should make it clear where it stands on the issue.

 

[BensGrandad]

As a mate of Greg Stanley, he has a very short memory.

Get your facts right.

I was never a MATE of Greg Stanley but did have dealings with him on a business standing and I do have a very long memory including helping the fight to rid the club of Archer.

DK had ample opportunity to give/sell shares to supporters had he wished when chairman but for whatever reason chose not to but helped in writing the rules which he is now trying to circumvent.

 

[Pondicherry]

I do have a very long memory including helping the fight to rid the club of Archer

So you remember the importance of people asking awkward questions then?

 

[BensGrandad]

So you remember the importance of people asking awkward questions then?

If they are relevant as regards the club but not questions like why did we sell Barnes or can we have Pepsi instead of "Coca Cola.

 

[Beach Hut]

Good job DK didn't take that attitude iro Bill Archer.

There is clearly some petty vendetta going on here against DK. As others have said, TB should make it clear where he stands on this matter

Get real that was at a totally different era of the club, what does TB have to publicly tell everyone what he feels ?

 

[Tom Hark Preston Park]

I don't begrudge DK anything, he walks on water for his efforts IMO.

Same. DK and MP did the hard miles and gained the planning permission for the new stadium that enabled the money men to move in. The likes of American Express would have happily stood by and watched the Albion go under without so much as batting an eyelid without that planning permission being gained. So nobody should be under any illusion on that score. We KNOW who saved the club. We are extremely lucky to have an Albion fan from a family with an Albion-supporting family pedigree to bankroll the stadium, because, whatever MP might say, funding via the banks was never going to be in place following the financial crash of 2008. DK might now be an increasingly-cranky old man, but TB and the board owe him and MP everything. They should at least try and indulge him a wee bit. IMHO, like. He is not their enemy.

However, other MINORITY investors in the Albion see it differently, and do resent DK getting a large proportion of his investment back, whilst they get nothing, and no credit for their efforts either.

Would be good if the club could swallow the costs internally and try and ascertain a fair price for the shares. Then offer that price to all minority shareholders. That would be fair and would draw a line under the matter.

 

[Thunder Bolt]

Same. DK and MP did the hard miles and gained the planning permission for the new stadium that enabled the money men to move in. The likes of American Express would have happily stood by and watched the Albion go under without so much as batting an eyelid without that planning permission being gained. So nobody should be under any illusion on that score. We KNOW who saved the club. We are extremely lucky to have an Albion fan from a family with an Albion-supporting family pedigree to bankroll the stadium, because, whatever MP might say, funding via the banks was never going to be in place following the financial crash of 2008. DK might now be an increasingly-cranky old man, but TB and the board owe him and MP everything. They should at least try and indulge him a wee bit. IMHO, like. He is not their enemy.



Would be good if the club could swallow the costs internally and try and ascertain a fair price for the shares. Then offer that price to all minority shareholders. That would be fair and would draw a line under the matter.

I wish I could give more than a thumbs up for this post. Well said.

 

[Tom Hark Preston Park]

I wish I could give more than a thumbs up for this post. Well said.

Cheers mate

 

[Ernest]

I wish I could give more than a thumbs up for this post. Well said.

Wish I could give it more thumbs DOWN

 

[Thunder Bolt]

Wish I could give it more thumbs DOWN

 

[Pondicherry]

Get real that was at a totally different era of the club, what does TB have to publicly tell everyone what he feels ?

He doesn't have to say anything of course. But as a supporter of the club I would be interested to know whether he still backs DK or has fallen out with him to the extent that he would back this petty attempt to block a share sale. It would be indicative of his character bearing in mind the debt the club owes to DK and the relatively trivial nature of the share sale. TB owns the club and presumably has a lot of money but often people who make a lot of money are no saints. I have no problem with that except that the club and its future now entirely in his hands.