[Town_Fan]

Quaker, on 18 October 2023 - 06:04 PM, said:

So how much are you going to chuck at the “GoFund Me” page then?

Absolutely nothing.

Edit: I would have happily done so had the Trust not issued preference shares thus causing further outgoings for the club. If they had issued normal shares and gone to a minority shareholding I would be sure they were more committed to the clubs future rather than keeping themselves at the top table. But they didn't and I don't.

Barnacles...

This post has been edited by Town_Fan: 18 October 2023 - 06:23 PM

[DerbySpireite59]

Town_Fan, on 18 October 2023 - 06:06 PM, said:

Absolutely nothing.

Edit: I would have happily done so had the Trust not issued preference shares thus causing further outgoings for the club. If they had issued normal shares and gone to a minority shareholding I would be sure they were more committed to the clubs future rather than keeping themselves at the top table. But they didn't and I don't.

Barnacles...

Im 99.9% sure that Phil and Ash have made it perfectly clear that they have no intention of ever becomkng najority shareholders, either severely or jointly.
Furthermore, they actually fully support the Trust remaining the majority shareholder. Is this all news to you?

[60s 70s Spireite]

DerbySpireite59, on 18 October 2023 - 08:58 PM, said:

Im 99.9% sure that Phil and Ash have made it perfectly clear that they have no intention of ever becomkng najority shareholders, either severely or jointly.
Furthermore, they actually fully support the Trust remaining the majority shareholder. Is this all news to you?

Although it should be mentioned in this context, the Kirks have control of the club by virtue of their A class shares that trump the ordinary shares on any issue.

[DerbySpireite59]

60s 70s Spireite, on 18 October 2023 - 09:08 PM, said:

Although it should be mentioned in this context, the Kirks have control of the club by virtue of their A class shares that trump the ordinary shares on any issue.

That's a good point tbf. If I recall, they have the power of veto "only", on certain key decisions and proposals.

[60s 70s Spireite]

DerbySpireite59, on 18 October 2023 - 09:25 PM, said:

That's a good point tbf. If I recall, they have the power of veto "only", on certain key decisions and proposals.

Not in the articles. A shares appoint the Chair and the Vice Chair - which to me gives them total control.

[DerbySpireite59]

60s 70s Spireite, on 18 October 2023 - 09:31 PM, said:

Not in the articles. A shares appoint the Chair and the Vice Chair - which to me gives them total control.

If that's the case, then I'd say the opposite. Decisions still go the way of the majority shareholder I.e the Trust

[60s 70s Spireite]

DerbySpireite59, on 18 October 2023 - 09:44 PM, said:

If that's the case, then I'd say the opposite. Decisions still go the way of the majority shareholder I.e the Trust

It’s the directors who run the club day to day, and the A shares have the controlling vote in the Directors Meetings. Why would the Kirks bother having drawn up articles that give them control when they wouldn’t have control.

Decisions are now in the hands of the Kirks. And why not - it’s their cash on the line.

[DerbySpireite59]

60s 70s Spireite, on 18 October 2023 - 09:50 PM, said:

It’s the directors who run the club day to day, and the A shares have the controlling vote in the Directors Meetings. Why would the Kirks bother having drawn up articles that give them control when they wouldn’t have control.

Decisions are now in the hands of the Kirks. And why not - it’s their cash on the line.

I get you, to a point. Tbh, I'm far from great on this sort of stuff.


To cut to the chase, I interpret what you're saying as meaning the Kirk's control the Club, despite being minority [Ordinary] shareholders.The success or failure of the Trust's investment in the Club (£1.7m, 55% approx.), has been put in the hands of the Kirks. Does that read about right?

[60s 70s Spireite]

DerbySpireite59, on 18 October 2023 - 10:14 PM, said:

I get you, to a point. Tbh, I'm far from great on this sort of stuff.

To cut to the chase, I interpret what you're saying as meaning the Kirk's control the Club, despite being minority [Ordinary] shareholders.The success or failure of the Trust's investment in the Club (£1.7m, 55% approx.), has been put in the hands of the Kirks. Does that read about right?

Yes, that’s about it.
Don’t forget the Trust didn’t put any of its own money into the football club, it raised loans from various sources to invest into the club. These have to be repaid, and it looks like the Kirks will be helping in this respect. Because there’s no profits as yet to aid any repayments from the Trust.
The Kirks have put their own cash on the line, and we have to be thankful for that. Hence they want day to day control.

[DerbySpireite59]

60s 70s Spireite, on 18 October 2023 - 10:21 PM, said:

Yes, that’s about it.
Don’t forget the Trust didn’t put any of its own money into the football club, it raised loans from various sources to invest into the club. These have to be repaid, and it looks like the Kirks will be helping in this respect. Because there’s no profits as yet to aid any repayments from the Trust.
The Kirks have put their own cash on the line, and we have to be thankful for that. Hence they want day to day control.

Thanks for the clarity. Makes more sense to me now.

That said, let's say the Club is now debt free, which it either is, or soon will be, the Trust still own 55% of the Club. Which if sold, would realise a ro-rata value of approx. £1.7m.Is this correct?

This post has been edited by DerbySpireite59: 18 October 2023 - 10:49 PM

[60s 70s Spireite]

DerbySpireite59, on 18 October 2023 - 10:44 PM, said:

Thanks for the clarity. Makes more sense to me now.

That said, let's say the Club is now debt free, which it either is, or soon will be, the Trust still own 55% of the Club. Which if sold, would realise a ro-rata value of approx. £1.7m.Is this correct?

That would be the simplistic conclusion, but of course as it currently stands, the A shares have more rights than Ordinary shares, so a buyer might be willing to pay more for those shares, less per share for the Ordinary shares.

Of course the Kirks might be willing, on any sale/part sale, to relinquish the favourable rights of the A shares before the sale.

Whatever, the Trust has substantial value in its shareholding. What that value will be will depend on what a buyer is willing to pay at the time.

This post has been edited by 60s 70s Spireite: 19 October 2023 - 07:18 AM

[DerbySpireite59]

60s 70s Spireite, on 19 October 2023 - 06:40 AM, said:

That would be the simplistic conclusion, but of course as it currently stands, the A shares have more rights than Ordinary shares, so a buyer might be willing to pay more for those shares, less per share for the Ordinary shares.

Of course the Kirks might be willing, on any sale/part sale, to relinquish the favourable rights of the A shares before the sale.

Whatever, the Trust has substantial value in its shareholding. What that value will be will depend on what a buyer is willing to pay at the time.

Many thanks for your time on this. I should have read this first.

https://www.wellersa...res?hs_amp=true

As it is though, TownFan need not worry about the Trust "holding its places at the table", allowing him to now donate to the training ground fund. LOL

[DIFH]

Just a thought that Chesterfield specialised cylinders live at the side of Tinsley viaduct, maybe there’s a marketing approach to be made there.

[DIFH]

Quaker, on 18 October 2023 - 06:04 PM, said:

So how much are you going to chuck at the “GoFund Me” page then?

Whoosh