New Chairman?

How many shares do you need to become a boardmember, I have 1 £100 share  

My understanding was it didn't matter how many shares you have but you did have to be able to act as a guarantor for a certain amount of cash but I cant remember how much that was.

Quoted from MarinerKate

The other way is by special resolution at a EGM, this would require 75% of shareholders to agree to the appointment.

So bascially, Parker can't clear the board out even if he wanted to unless he buys unissued/other people's shares to give him(or with minority shareholder support) the 75% he needs ?

By my calcs: (which I'm sure are innacurate but not too massively wrong)

Parker 883,375
Fenty  500,000
Other  252,505

assuming "Other" ALL vote with Parker that makes 61.3%.

Meaning Parker would need to find AT THE VERY MINIMUM another 13.7% (i.e. approx £240,000 assuming they weren't unissued shares which would increase the total no of shares).

First impression - if practically achievable to acquire those shares(is it ?), not impossible !

Fenty might have been concerned with Parker increasing his shareholding IF he was getting to a stage that the "balance of power" was being threatened.

Assume here Parker buys unissued shares ONLY (Would the club say "no you can't buy them" ?)

Let's say Parker buys another 500,000 - that means Fenty will be down to appox 21.25 % meaning that Fenty will need approx 3.75% to get him over the 25% line, which translates to 88,194 of 252,505 minority support, which is in effect is 35%  (note these minority figures are quite sensitive and not too reliable)

If Parker buys say an extra 1,000,000 shares then he's up to 71.45% needing 3.55% = 93573 out of 252505
i.e. needing 37% minority shareholder support.

If Parker buys 1,500,000 shares then he reaches the magic figure taking him to 76 % !

So basically Parker can buy the club for £1,500,000 ?

If he dosn't want to spend that much, it's still achievable ?
How much extra cash Parker needs to splash is dependant on the number of minority shareholders that support Fenty ?

I just wonder, is this the reason BigChris was telling fans to buy shares ?.......

Yes but if that happens which is unlikely. Fenty will want his loans back and if Parker can't or won't pay them then we go into Administration

But Fenty said his loans would never endanger the club ?

Do you believe he would walk away leaving his loans ? Do you believe anything Fenty says ? He talks in riddles and uses spin.

You mean would Fenty pull the rug from under GTFC making a fresh start with renewed investment and leadership after EVERYTHING he's ever said about wanting new investment, Parker to take the chair, his loans being "benign" and putting the best interests of GTFC first ?!!!  

I mean exactly that, and I think he would.

Sack the Board!

Quoted from KK_DOG

I mean exactly that, and I think he would.

Well many others don't...

What's the reason for your initial comment ? How do we know it's not just scare tactics ?

What are you saying:
"We should not seek fresh investment because of the possibility of Fenty doing the unthinkable in the future" ?

I'd rather let the fornicator go bust than be held to ransom !