Dick Knights shares

[Iggle Piggle]

Whilst I agree with your final sentiment, the rest seems to imply that it was only DKs money that saved the club rather than the combined board. Also, whilst planning permission was achieved under him, was that not more down to the work of Martin Perry!

I don't disagree that it was a team effort and all that 2014 corporate jargon bollox but DK was the lead of the whole shooting match at that point in time. Perry was bought on board by Knight and if he was thought that the chairmanship wasn't for him, where would we be? It's unlikely Perry would be here if DK hadn't been.

The difference between Knight and Perry was that Perry worked out how to survive under Bloom. Knight couldn't handle playing second fiddle.

On a complete side note, the episode in the book where there was a Real Ale binfest in the supporters bar had me laughing for all the wrong reasons. I know some on here take thier ale seriously but that read like a crap scene in a crap episode of neighbours.

 

[Alex Alex Dawson oo! oo!]

We're in danger of going off-topic here but I agree with you until your very last point. My reading of the situation was that TB would make good the shortfall (I think that's universally accepted) and was in for £30m. What was never envisaged was that TB would end up paying for all of it and this was what prompted the regicide.

Fair enough about wandering O/T. You may be correct about TB's original intention and, from memory, the initial convertible loan note info doesn't contradict this. My son and I sat with TB on the train from St Pancras-Sheffield en-route to Barnsley at the end of the season before last and both of us came away with the view that he'd expected to fully fund the stadium well before he became majority shareholder.

 

[Creaky]

Eh? I don't think you quite understand. Goldstone1976's point was about the risk of selling all the shares (which is DK's current position) at market value. You were the one who suggested DK selling just 262 and I wrote that the value per share remains the same, the right to buy remains the same also.

I fully understood the point you made about the price and didn't disagree with it

Thanks for defending me! I'd read Creaky's comment as meaning if DK revised his request to sell 100k shares down to 262, he'd not make a large financial loss if he had to sell at, say, 2p now but later someone did offer, say, £2, or whatever. A point which is valid. However, it doesn't counter point A of my argument, which I explain in post # 95

Apropos of nothing, I know of at least two people who wanted 5k shares and at least one who wanted 10k+. These people may or may not be happy with just one.

'Defending' ? - There was no attack - simply pointing out an alternative scenario and of course you are correct that DK reducing the number of shares on offer wouldn't negate your suggestion that DK may feel that if the shares were valued at a lower price than the £1 offer it would affect his image - not an argument I necessarily buy into.

I just do not understand why there seems to be such hostility to the idea that a few fans could have a nominal stake in the club they support - apparent hostility not just from other shareholders but from other fans

 

[Goldstone1976]

'Defending' ? - There was no attack - simply pointing out an alternative scenario and of course you are correct that DK reducing the number of shares on offer wouldn't negate your suggestion that DK may feel that if the shares were valued at a lower price than the £1 offer it would affect his image - not an argument I necessarily buy into.

I just do not understand why there seems to be such hostility to the idea that a few fans could have a nominal stake in the club they own - apparent hostility not just from other shareholders but from other fans

Perhaps "defend" was the wrong choice of word, especially as I didn't feel attacked. My intention was to offer thanks to Buzzer for what I saw as a supportive comment, rather than to "defend" myself against an "attack" from you.

I'm not sure if your second paragraph is aimed at me (amongst others)? My own position is that I'm neither for or against DK offering his shares for sale to fans. I have merely sought to provide some input into the pros and cons of doing so, correcting definite mistakes where I've seen them (and being corrected myself) and offering some thoughts about what I think DK will do next. Just to engage in a debate, s'all.

 

[drew]

I don't disagree that it was a team effort and all that 2014 corporate jargon bollox but DK was the lead of the whole shooting match at that point in time. Perry was bought on board by Knight and if he was thought that the chairmanship wasn't for him, where would we be? It's unlikely Perry would be here if DK hadn't been.

The difference between Knight and Perry was that Perry worked out how to survive under Bloom. Knight couldn't handle playing second fiddle.

On a complete side note, the episode in the book where there was a Real Ale binfest in the supporters bar had me laughing for all the wrong reasons. I know some on here take thier ale seriously but that read like a crap scene in a crap episode of neighbours.

That's a bit judgemental! I would suggest Perry didn't need to learn how to survive under Bloom but merely work with him. Perry was not displaced by Bloom whereas DK was.

 

[Iggle Piggle]

That's a bit judgemental! I would suggest Perry didn't need to learn how to survive under Bloom but merely work with him. Perry was not displaced by Bloom whereas DK was.

I'm not judging anyone.

Originally, I was referencing back to the book where DK got the hump that MP seemed to side with TB towards the end. This is hardly suprirising and MP knew which side paid the bills and which was a busted flush. It's just naive of DK to think that MP would side with him if it was going to affect his future job prospects - He got rid of Ken Brown quick enough (which would appear to be around costs out of control knowing what we know now)

 

[Not Andy Naylor]

It would negate point B, for sure; but not all of point A. He'd still have to explain why he'd valued them at £1 and the auditors valued them at, say, 2p.

For a man who is reputedly keen on preserving his image, such exposure would, imo, be seriously damaging to his self-perception. It's much safer for DK to simply withdraw the offer and blame the club. That way, his ego can remain intact. No?

Isn't it more damaging to perception of the club than to DK that shares are now apparently worth only 1p each?

Also, re-reading the original letter (assuming it was quoted in full), if DK wants to sell 100,000 shares to 262 people, that confirms what someone said in an earlier post - that either every interested party wants (pause while tries to find calculator function on phone - Jack Liddell would be ashamed of me ...) er, 381.7 shares each, or that a few people want a large number each.

I'd have quite liked one share certificate to hang on my wall. Maybe some people have very big walls, and share certificates work out cheaper per square metre than wallpaper.

 

[seagullsovergrimsby]

Dick could pull off a master-stroke now by burning his shares on a ceremonial bonfire.

 

[Ernest]

Dick could pull off a master-stroke now by burning his shares on a ceremonial bonfire.

I BURNT his book on my BONFIRE shame I couldn't PUT the POTLESS pillock on there in person

 

[Goldstone1976]

Isn't it more damaging to perception of the club than to DK that shares are now apparently worth only 1p each?

Well, -ish, I guess. The level of debt in the club now (from TB) is far higher than it was previously. When valuing a company, one key aspect is the amount of debt. Sure, the holding company has the asset of the stadium, but it also has the debt too. If it got to a formal valuation of the shares by the auditors, I'd be really interested to see what number they come up with.

 

[Creaky]

Well, -ish, I guess. The level of debt in the club now (from TB) is far higher than it was previously. When valuing a company, one key aspect is the amount of debt. Sure, the holding company has the asset of the stadium, but it also has the debt too. If it got to a formal valuation of the shares by the auditors, I'd be really interested to see what number they come up with.

Hasn't the level of debt been decreasing as TB has converted it to equity?

Haven't seen last year's holding company accounts so he may have loaned another tranche of money to cover the costs of the training ground.

 

[tomfitz12]

if only someone bumped this earlier. I had a very long conversation with dick on saturday night regarding the club. oh well, to late now I suppose