David-Copenhagen 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 I agree. Link to comment Share on other sites More sharing options...
Demitri_C 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. i hope you right ian. im getting abit nervous about these AV06 gimps. why can they buy everton or something? we alraedy have who we want. Link to comment Share on other sites More sharing options...
blandy Posted August 17, 2006 Moderator Share Posted August 17, 2006 according to the document, RAL has agreement to buy 3,683,414 shares from Ellis 1000 from Stride 2,200 from Owen 63,500 from Hales 196,400 from Peter Ellis 2,396,909 from Petchey 165,000 from Heidi Ellis Total 6,508,423 from the total of 11,449,245 (with 9,375 of these "missing") The percentage for which RAL has agreement is 56.84% of the total (or 56.89% of the total minus the missing shares). Other snippets - Ellis will get a pay off (and confidentiality clause) of £300,840 on top of the money for his shares. The other non-retained directors will get the rest of their years salary paid up (each NED is paid £15K p.a). Stride stays on. Link to comment Share on other sites More sharing options...
TOTTI-THE-GOD Posted August 17, 2006 Share Posted August 17, 2006 Stupid question what does that mean Blandy?? And Will Randy walk away ?? Link to comment Share on other sites More sharing options...
runetune Posted August 17, 2006 Share Posted August 17, 2006 Stupid question what does that mean Blandy?? And Will Randy walk away ?? Its just showing who the shares that RAL have agreed to buy are coming from - and then also just some of the additional pay off's on top of the share purchase. As for RAL walking away - unless they are outbid and the newer bid is accepted they are tied to the contract just as Ellis and Co are. Link to comment Share on other sites More sharing options...
blandy Posted August 17, 2006 Moderator Share Posted August 17, 2006 There's also a clause allowing Lerner, effectively, to respond to another bid. - this bid's deadline is 1 pm 4 sept, but he has the ability to revise it for reconsideration for a further 14 days from any revision, but not after 29 Sept (though if the 14 days passes 29 sept, then the later date is the "deadline for acceptance of his revised offer. There's a complete final date of 1 pm 13 October. But the whole detail of the document is pretty complex for a novice to undersatnd Link to comment Share on other sites More sharing options...
blandy Posted August 17, 2006 Moderator Share Posted August 17, 2006 And Will Randy walk away ?? I chuffin' hope not, Totti. Link to comment Share on other sites More sharing options...
moonstone Posted August 17, 2006 Share Posted August 17, 2006 Just so that everyone is clear, the Offer is subject to Lerner obtaining acceptances for at least 90% of the shares, or such lower figure as he may decide. Otherwise he is not obliged to acquire from Ellis & Gang. However, in my view, unless a much stronger offer comes along, this is a done deal. Link to comment Share on other sites More sharing options...
TOTTI-THE-GOD Posted August 17, 2006 Share Posted August 17, 2006 I thought it was 75% Moonstone Link to comment Share on other sites More sharing options...
moonstone Posted August 17, 2006 Share Posted August 17, 2006 Not according to page 22 of the Offer Document! Link to comment Share on other sites More sharing options...
blandy Posted August 17, 2006 Moderator Share Posted August 17, 2006 I read that clause about 10 times moonstone, and I'm not sure that it does say exactly that. It also mentions "provided that this condition [90%] will not be satisfied unless RAL..shall have acquired or agreed to acquire...more than 50%....." Beats the heck out of me. Link to comment Share on other sites More sharing options...
ianrobo1 Posted August 17, 2006 Share Posted August 17, 2006 can't unbderstand a word of it and I don't care. Back Lerner and sell or don't back him It's easy MON backs him, isn't that clear enough ? Link to comment Share on other sites More sharing options...
villafan306 Posted August 17, 2006 Share Posted August 17, 2006 All I know is that in 6 days and one hour Lerner will own the club unless his bid is better. What mroe do we need to know? Link to comment Share on other sites More sharing options...
Richard Posted August 17, 2006 Share Posted August 17, 2006 Full of legalise. This is my interpretation (I am an accountant not a fecking lawyer!) 1. The offer has been made and conditionally accepted by those listed providing no bid in excess of 5% greater than Randy's bid is made, accepted and recommended by next Wednesday. If this is not the case then at that point Randy will own 58% (or as near as damn it) of AVFC PLC shares. 2. Shareholders have until 21 days after last Monday to accept RAL's offer for the shares (this is 4th September). 3. At this point RAL should hopefully have 75% of the holding and will be able to delist AVFC PLC so that we are PLC no more 4. Once RAL own 90% then they can comulsory purchase the remaining shares and there we go. Link to comment Share on other sites More sharing options...
Digsby Posted August 17, 2006 Share Posted August 17, 2006 Full of legalise. This is my interpretation (I am an accountant not a fecking lawyer!) 1. The offer has been made and conditionally accepted by those listed providing no bid in excess of 5% greater than Randy's bid is made, accepted and recommended by next Wednesday. If this is not the case then at that point Randy will own 58% (or as near as damn it) of AVFC PLC shares. 2. Shareholders have until 21 days after last Monday to accept RAL's offer for the shares (this is 4th September). 3. At this point RAL should hopefully have 75% of the holding and will be able to delist AVFC PLC so that we are PLC no more 4. Once RAL own 90% then they can comulsory purchase the remaining shares and there we go. Cheers Richard - that makes it pretty clear, even for the likes of me! Link to comment Share on other sites More sharing options...
TOTTI-THE-GOD Posted August 17, 2006 Share Posted August 17, 2006 All I know is that in 6 days and one hour Lerner will own the club unless his bid is better. What mroe do we need to know? Well thats what i thought , but these silly buggers keep blowing my mind, hehe Link to comment Share on other sites More sharing options...
TOTTI-THE-GOD Posted August 17, 2006 Share Posted August 17, 2006 Ok simple question , what if Randy doesnt get the 75% required to make the club a PLC no more ?? Link to comment Share on other sites More sharing options...
dhatfield Posted August 17, 2006 Share Posted August 17, 2006 Ok so I understood all of that Richard.......can you or anyone answer me this..... I own 100 shares and am fully behind the Randy Lerner bid..... 1) Can I sell him 99 of my 100 shares. 2) If he gets more than 75% but less than 90% and the club delists then does that 1 share give me the right to attend shareholder meetings? As it happens when my offer docs arrive I'll probably sell the 100 anyhow, but I'd still like to know if anyone can help......hope that all makes sense!! Link to comment Share on other sites More sharing options...
stevenjos Posted August 17, 2006 Share Posted August 17, 2006 he could run it as a PLC with his 58ish%? Link to comment Share on other sites More sharing options...
TOTTI-THE-GOD Posted August 17, 2006 Share Posted August 17, 2006 Ok so I understood all of that Richard.......can you or anyone answer me this..... I own 100 shares and am fully behind the Randy Lerner bid..... 1) Can I sell him 99 of my 100 shares. 2) If he gets more than 75% but less than 90% and the club delists then does that 1 share give me the right to attend shareholder meetings? As it happens when my offer docs arrive I'll probably sell the 100 anyhow, but I'd still like to know if anyone can help......hope that all makes sense!! I think once the club goes private again there will be no more shareholders meetings so to speak Link to comment Share on other sites More sharing options...
Recommended Posts