David-Copenhagen Posted August 17, 2006 Share Posted August 17, 2006 Which one is it - a condition or not? Richard can you link me to the relevant doc. so I can see for myself? Link to comment Share on other sites More sharing options...
TOTTI-THE-GOD Posted August 17, 2006 Share Posted August 17, 2006 Will he pull out if he doesnt get his 75 % thing ??? Link to comment Share on other sites More sharing options...
David-Copenhagen Posted August 17, 2006 Share Posted August 17, 2006 To clarify - I got the impression that RL wants 75% or the offer is off - is that true? Link to comment Share on other sites More sharing options...
Richard Posted August 17, 2006 Share Posted August 17, 2006 David he has a soft conditional agreement to own 58% (Petchey and Ellis), the condition is on getting to 75% is so he can delist. Its in the offer document whaich was on a thread on here somewhere Link to comment Share on other sites More sharing options...
villafan306 Posted August 17, 2006 Share Posted August 17, 2006 Will he pull out if he doesnt get his 75 % thing ??? He cannot pull out. He has irrovocable agreements with Ellis and Petchy so will own their shares at 5.30pm on Wednesday unless a better bid comes in. Link to comment Share on other sites More sharing options...
TOTTI-THE-GOD Posted August 17, 2006 Share Posted August 17, 2006 Cheers 306 , got a little worried again there Link to comment Share on other sites More sharing options...
pink_chimp Posted August 17, 2006 Share Posted August 17, 2006 I think I'm starting to understand everything now, thanks guys. Link to comment Share on other sites More sharing options...
runetune Posted August 17, 2006 Share Posted August 17, 2006 Just as a reminder the full LSE document with all the information in can be read at the following link: http://tinyurl.com/nf4k5 Link to comment Share on other sites More sharing options...
kiddybloke Posted August 17, 2006 Share Posted August 17, 2006 He has irrovocable agreements with Ellis and Petchy so will own their shares at 5.30pm on Wednesday Music to my ears Link to comment Share on other sites More sharing options...
Richard Posted August 17, 2006 Share Posted August 17, 2006 Will he pull out if he doesnt get his 75 % thing ??? He cannot pull out. He has irrovocable agreements with Ellis and Petchy so will own their shares at 5.30pm on Wednesday unless a better bid comes in. yes thats right. He needs to get to 75% to delist but if no other bids come in the next 10 days he owns 58% Link to comment Share on other sites More sharing options...
ianrobo1 Posted August 17, 2006 Share Posted August 17, 2006 Rich, to amend that in order not to takeover the club, another bid would have to come in, be accepted and recommened by the board. It means rothschilds would have to go back on their word Ellis would have to witrhdraw a public statement he has made and he has NEVER done that It's over everyone, calm down. Link to comment Share on other sites More sharing options...
Richard Posted August 17, 2006 Share Posted August 17, 2006 Yes Ian I'm sure it is. Just very frustrating that things are getting a bit messy Link to comment Share on other sites More sharing options...
ianrobo1 Posted August 17, 2006 Share Posted August 17, 2006 only messy Rich because of the actions of AV06 who have yet to even bid and clearly had a plaan to delay smaall shareholders selling up, for which reason I do not know, when surely they could have bid this week if they really wanted us. but We are missing something here. Ellis&family/Petchey control 58% of their shares, it leaves obviously 42%. We have no toher major shareholder, I think the next biggest one is Dugdale with around 1%. We have 13,000 small shareholders or so (Ansell confirmed this) who would own 40 or more shares from the orginal floatation, which is lets say 20-30%. So the real question is where the other 15% or so is owned. I believe most of this is in the hands of small institutions like say once I saw the miners welfare fund. These will sell straight away. 58% + 15% is 73% - done deal. Link to comment Share on other sites More sharing options...
kiddybloke Posted August 17, 2006 Share Posted August 17, 2006 Surely if he gets over 50% he can do what he wants anyways, it hasnt stopped Ellis (considering his lapdog petchley)? I suppose he might be bitter at increasing the value of the club with his own money, or is he even allowed to do that? Link to comment Share on other sites More sharing options...
PB Posted August 17, 2006 Share Posted August 17, 2006 Surely if he gets over 50% he can do what he wants anyways, it hasnt stopped Ellis (considering his lapdog petchley)? I suppose he might be bitter at increasing the value of the club with his own money, or is he even allowed to do that? I think that if the club remains a PLC thenhe is very lmiited in what he can do Therefore I think if he doesnt get the 75% he will walk away as I understand this is also part of the soft condition Link to comment Share on other sites More sharing options...
villafan306 Posted August 17, 2006 Share Posted August 17, 2006 He can't walk away though surely because he will own 58% of the club wouldn't he? Link to comment Share on other sites More sharing options...
RichardCanning Posted August 17, 2006 Share Posted August 17, 2006 I think that if the club remains a PLC thenhe is very lmiited in what he can do Therefore I think if he doesnt get the 75% he will walk away as I understand this is also part of the soft condition Hmm methinks this is maybe why the article in the Post appeared today RE scepticism of Lerner as if the fans do not sell their shares to him, because of press scaremongering etc he wouldn't get to 75% therefore Padfield could look to buy Villa off Randy for what Lerner bought it for in the first place. Link to comment Share on other sites More sharing options...
David-Copenhagen Posted August 17, 2006 Share Posted August 17, 2006 Surely if he gets over 50% he can do what he wants anyways, it hasnt stopped Ellis (considering his lapdog petchley)? I suppose he might be bitter at increasing the value of the club with his own money, or is he even allowed to do that? I think that if the club remains a PLC thenhe is very lmiited in what he can do Therefore I think if he doesnt get the 75% he will walk away as I understand this is also part of the soft condition See now this makes it confussing again :-) I have just looked though the offer and the interessting part is this If RAL acquires, by virtue of its shareholdings and acceptances of the Offer, Aston Villa Shares carrying at least 75 per cent. of the voting rights of Aston Villa, and subject to the Offer becoming or being declared unconditional in all respects, and subject to any applicable requirements of the UK Listing Authority, RAL intends to procure that Aston Villa applies to the UK Listing Authority for the removal of the Aston Villa Shares from the Official List and to the London Stock Exchange for cancellation of the trading in Aston Villa Shares. It is anticipated that such cancellation will take effect no earlier than 20 Business Days after the Offer becomes or is declared unconditional in all respects. De-listing and the cancellation of trading of Aston Villa Shares will significantly reduce the liquidity and marketability of any Aston Villa Shares. As I read this, it only says that he intends to take the club private again. The bold part has to do with the offers to JP and Ellis - not the 75%. Do all agree? If we agree on that he will own 58% and can't leave but will have to sell again. Result Doug is 100% out. AV06 can then try a hostile takeover unless RL walks. Link to comment Share on other sites More sharing options...
Richard Posted August 17, 2006 Share Posted August 17, 2006 I think the soft condition is on no other bid being made and accepted within 10 days. Although I do agree that he wants 75% to delist Link to comment Share on other sites More sharing options...
ianrobo1 Posted August 17, 2006 Share Posted August 17, 2006 he'll get it easy Link to comment Share on other sites More sharing options...
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