Bob's Board: Special General Meeting - Bob's Board

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Special General Meeting

#1 User is offline   CFC91 

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Posted 06 October 2023 - 11:35 AM

https://x.com/cheste...8Orla3ArMqcJ6Lw

More investment on the way? A bit vague
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#2 User is offline   plannerj 

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Posted 06 October 2023 - 11:51 AM

The announcement makes it clear that it’s to consider more investment from the Kirk’s!
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#3 User is offline   metallilad 

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Posted 06 October 2023 - 11:55 AM

Why did they need to let people know about it? Will it be inviting the minor share holders.
Life goes on. Whatever happens.
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#4 User is offline   azul 

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Posted 06 October 2023 - 12:02 PM

View Postmetallilad, on 06 October 2023 - 11:55 AM, said:

Why did they need to let people know about it? Will it be inviting the minor share holders.

It said further details will be released shorty - why are you so negative about what on the face of it looks good news?
Accentuate th Positive, eliminate the negative
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#5 User is offline   spireitetoo 

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Posted 06 October 2023 - 12:17 PM

View Postazul, on 06 October 2023 - 12:02 PM, said:

It said further details will be released shorty - why are you so negative about what on the face of it looks good news?



He's always negative when it comes to spending money...
all we are saying, is give us ...a goal, or 2+
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#6 User is offline   metallilad 

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Posted 06 October 2023 - 12:21 PM

View Postazul, on 06 October 2023 - 12:02 PM, said:

It said further details will be released shorty - why are you so negative about what on the face of it looks good news?

Negative? I've asked a question? No negativity, just enquiring. Why are you trying to turn it into something it isn't?
Life goes on. Whatever happens.
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#7 User is offline   60s 70s Spireite 

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Posted 06 October 2023 - 12:35 PM

View Postmetallilad, on 06 October 2023 - 11:55 AM, said:

Why did they need to let people know about it? Will it be inviting the minor share holders.

Company Law. All shareholders have to be notified, invited to attend, and they will be able to vote. Of course though, we minor shareholders will have no influence on the outcome, by virtue our small percentage holding.

What will be interesting is by how much it will dilute the Trust’s shareholding and increase the Kirks’.
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#8 User is offline   Wooden Spoon 

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Posted 06 October 2023 - 12:48 PM

Another share issue?
A new hope.
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#9 User is offline   Sammy Spireite 

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Posted 06 October 2023 - 01:07 PM

View PostWooden Spoon, on 06 October 2023 - 12:48 PM, said:

Another share issue?

Not another issue, just a change of share ownership it seems, of how many isn’t known yet.

As an aside, do we know how many of the trust shares it managed to sell when they were diluted and they had to sell some off?
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#10 User is offline   Between The Sticks 

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Posted 06 October 2023 - 01:16 PM

View Postplannerj, on 06 October 2023 - 11:51 AM, said:

The announcement makes it clear that it’s to consider more investment from the Kirk’s
You sure it's not from Uncle Dave & his sidekick :lol:
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#11 User is offline   Blue5 

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Posted 06 October 2023 - 02:17 PM

View Post60s 70s Spireite, on 06 October 2023 - 12:35 PM, said:

Company Law. All shareholders have to be notified, invited to attend, and they will be able to vote. Of course though, we minor shareholders will have no influence on the outcome, by virtue our small percentage holding.

What will be interesting is by how much it will dilute the Trust’s shareholding and increase the Kirks’.


It will also be interesting to hear if this is to assist with capital expenditure or to cover trading losses.
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#12 User is offline   dim view 

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Posted 06 October 2023 - 04:01 PM

View PostBlue5, on 06 October 2023 - 02:17 PM, said:

It will also be interesting to hear if this is to assist with capital expenditure or to cover trading losses.

I suppose many folk have seen the flyer but for those that haven't.......

The latest episode of ‘We Are Sailing’ will air on 1866 Sport tonight at 7pm - covering a range of club topics.
Nick Johnson is joined by Ashley Kirk and John Croot.
Get it on, bang the gong , get it on
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#13 User is offline   DerbySpireite59 

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Posted 06 October 2023 - 05:05 PM

View Post60s 70s Spireite, on 06 October 2023 - 12:35 PM, said:

Company Law. All shareholders have to be notified, invited to attend, and they will be able to vote. Of course though, we minor shareholders will have no influence on the outcome, by virtue our small percentage holding.

What will be interesting is by how much it will dilute the Trust’s shareholding and increase the Kirks’.
I'm fairly sure that only Ash holds shares. Didn't Phil transfer his to Ash a month, or so, back?
"No one is 100% good, nor 100% evil"
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#14 User is offline   DerbySpireite59 

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Posted 06 October 2023 - 05:07 PM

View PostBlue5, on 06 October 2023 - 02:17 PM, said:

It will also be interesting to hear if this is to assist with capital expenditure or to cover trading losses.

The cash exchange is between Ash Kirk and the Trust, not the Club.
"No one is 100% good, nor 100% evil"
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#15 User is offline   60s 70s Spireite 

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Posted 06 October 2023 - 05:47 PM

View PostDerbySpireite59, on 06 October 2023 - 05:05 PM, said:

I'm fairly sure that only Ash holds shares. Didn't Phil transfer his to Ash a month, or so, back?

I read that statement as Phil transferring some of his shares to Ash.

View PostDerbySpireite59, on 06 October 2023 - 05:07 PM, said:

The cash exchange is between Ash Kirk and the Trust, not the Club.

Is this what the official notice of the meeting says?
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#16 User is offline   dim view 

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Posted 06 October 2023 - 06:53 PM

View Postdim view, on 06 October 2023 - 04:01 PM, said:

I suppose many folk have seen the flyer but for those that haven't.......

The latest episode of ‘We Are Sailing’ will air on 1866 Sport tonight at 7pm - covering a range of club topics.
Nick Johnson is joined by Ashley Kirk and John Croot.

Bump
Well, superb podcast but nowt about any SGM.
Get it on, bang the gong , get it on
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#17 User is offline   60s 70s Spireite 

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Posted 06 October 2023 - 06:54 PM

Full explanation posted up now.
https://chesterfield...general-meeting
New 1.6M investment by Phil and Ashley
£980k of this will be allocated to new A shares
After the share issue, the Trust will own around 55% of the ordinary shares in the club. Phil & Ashley will own around 40% and other supporters just under 5%.
Just over £620,000 of the investment will be for non-voting preference shares held by Phil which will accrue interest at 5%. These shares are redeemable (can be repaid) if the board wish
Funds to go to repaying sums due on external loans and funding current years losses,
“The club is currently undergoing a reorganisation and is working hard to match cash income to outgoings. Rationalising and rebuilding any squad costs money and the club has worked hard to attract the calibre of player that should help us achieve the goal of promotion. In addition, significant cash has been spent on players who are not part of our plans and have permanently left the club. Fortunately this will reduce the long-term cost but does result in a short-term cash drain”
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#18 User is offline   dim view 

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Posted 06 October 2023 - 07:06 PM

View Post60s 70s Spireite, on 06 October 2023 - 06:54 PM, said:

Full explanation posted up now.
https://chesterfield...general-meeting
New 1.6M investment by Phil and Ashley
£980k of this will be allocated to new A shares
After the share issue, the Trust will own around 55% of the ordinary shares in the club. Phil & Ashley will own around 40% and other supporters just under 5%.
Just over £620,000 of the investment will be for non-voting preference shares held by Phil which will accrue interest at 5%. These shares are redeemable (can be repaid) if the board wish
Funds to go to repaying sums due on external loans and funding current years losses,
“The club is currently undergoing a reorganisation and is working hard to match cash income to outgoings. Rationalising and rebuilding any squad costs money and the club has worked hard to attract the calibre of player that should help us achieve the goal of promotion. In addition, significant cash has been spent on players who are not part of our plans and have permanently left the club. Fortunately this will reduce the long-term cost but does result in a short-term cash drain”

Looks to me as though Asante has been paid off then, as it says 'players'.
Get it on, bang the gong , get it on
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#19 User is offline   hardgums 

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Posted 06 October 2023 - 07:27 PM

Just shows how tight the finances are. Big up to the Kirk Bros and the Trust but boy, we really need to go up this time.
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#20 User is offline   60s 70s Spireite 

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Posted 06 October 2023 - 07:30 PM

View Posthardgums, on 06 October 2023 - 07:27 PM, said:

Just shows how tight the finances are. Big up to the Kirk Bros and the Trust but boy, we really need to go up this time.

You have the feeling there’s no where to go if we don’t go up this time.
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