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Takeover parts 1 & 2


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murdochs very powerful, hence why the media hate manure. dont wanna get on the wrong side of him

now we have the manager sorted we need the players to be bought. the team is not nearly strong enough.

if we sign over 5m im certain we are being takeover

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I think Tuesday is a good bet.

I think we can all go about work alright tomorrow, and not think about it until the last few hours of the day at the earliest.

Not good enough!

I want action, action action...!

I just want it sorted, Ellis gone, a new man in place and funds.... yes i have fallen asleep and I am sleeptyping.

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I think Tuesday is a good bet.

I think we can all go about work alright tomorrow, and not think about it until the last few hours of the day at the earliest.

well much earlier than I expected JC, much earlier, hope you are right.

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Not sure where the 38% came from. In last years accounts (to 31/05/05) Ellis held 33.61% and Trefick Ltd(Petchey) 20.12%.

As far as I understand it any body can sell their shares at any time without recourse to the LSE even if the company is lised on said bourse. Th takeover panel is only required for (complete) company purchases(i.e one ompany takes over another) for personal shareholdings this is not an issue. If Randy Lerner as a private individual purchases Doug Ellis's (a private individual) shares this can happen immediately as a normal stock market transaction, the only stipulation being that if the shareholding is greater than 29.9% of the total company stock, an offer of the same value must be made to all shareholders with a timescale of at least 21 days.

Sometimes, as in the case of Sunderland the buyers will stipulate a minimum percentage of the total stock must be purchased within the 21 day period for their initial offer to be valid (normally 95% which is required to delist) this is only relevant in a takeover(company to company) stock sale and can be waived by the purchaser at any time.

If a private individual bought out the holdings of D Ellis and Trefick Ltd, thus gaining a 53.73% holding in AVFC plc, they would need to offer the selling price to all shareholders for 21 days and call an EGM with 21 days notice in order to change the board (a formality if the new owners hold more than 50% of the shares). Therefore an effective takeover could take place wthin 21 days with the backing of HDE and Petchey. A delisting would depend on a lot of small shareholders and may take longer.

So if a bid is recommended by the board tomorrow, the 28th is the earliest it can be concluded.

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^^^^

been a while since that has been produced, nicely done apart from the spellchecking.

hasn't Ellis talked about selling the club though and not just his shares.

it nicely explains Neville's position though apart from the deal he's supposed to have to borrow off Petchey to supposedly buy Petchey's shares. Very convoluted

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