Fenty Resigns!!!

Quoted from bradzmilne

One of them momments, celebrate or be majorly worried? I just hope to god we get some sort of statement, before to long. Panicing at the minue

My initial reaction was absolute panic and after listening to on the radio i'm still in panic mode.

Quoted from Perkins

Why would Parker wish to be the clubs major shareholder if he did not want control.

Good question.

Quoted from Perkins

"Untenable" the statement read, why intenable? Is it because  Parker refuses to rejoin the board while Fenty is Chairman?. Something not quite right here.

Because he's no longer the major shareholder - says in the statement "felt that his position as Chairman had become untenable, with effective control of the Club, now resting outside of the Board of Directors."

What I want to know is, was it the case before or has Parker recently increased his shareholding ?

What is this "Take Over Panel" mentioned in the statement - anyone know ?

Quoted from 1600

What is this "Take Over Panel" mentioned in the statement - anyone know ?

http://www.thetakeoverpanel.org.uk/

Quoted Text

The Panel on Takeovers and Mergers (the “Panel”) is an independent body, established in 1968, whose main functions are to issue and administer the City Code on Takeovers and Mergers (the “Code”) and to supervise and regulate takeovers and other matters to which the Code applies.

Its central objective is to ensure fair treatment for all shareholders in takeover bids.

I hope this is the last of his association with the club. If he manages to get any of his money out of the club it will be a travesty, his tenure has been an utter disaster and he has slowly strangled most of the life out of the club.

Quoted from MeanwoodMariner

Not exactly sure why you are so cheerful. These "wrong decisions" that everybody keeps banging on about are presumably referring to the choice of manager. Unless people also want S&H replacing then this will not change anything.

Best case scenario is that someone else steps in to keep the club afloat and nothing changes.
Worst case is we go out of business.

WHS

This is terrifying.

Unless Parker is dafty enough to spunk a million quids worth of his kids inheritance on GTFC every year then we are fukked. Expect admin by the end of the season.......

Quoted from Kris Mustampa

Untenable simply because the club have fallen foul of the takeovers commission. He couldnt stay now Parker has 54% of the club unless Parker bought all the unissued share capital.

Yes i know that, I just don,t understand why someone who now has 54% of the clubs shares has made no attempt to re-join the board. Why bother? Who alerted the Take Over Panel? The situation over the shares must have been known by all parties since Parker increased his shares. As i said. Something not right here.

Quoted from voice of reason

You had faith in JF...??? How has MP been sniping away...???

Meaning I had faith in him always trying to do his best for the club whilst chucking good money after bad, not that he was blameless in some of the decisions

Meaning leaving the board and not replying to Emails a sort of spiteful silence when you have so much money involved

OK just my opinion of course

I'm wondering if Mike has called in this Take Over Panel company to oust Fenty so he can take control of the club

Quoted from psgmariner

WHS

This is terrifying.

Unless Parker is dafty enough to spunk a million quids worth of his kids inheritance on GTFC every year then we are fukked. Expect admin by the end of the season.......

The other option was to carry on regardless with an incompetent Chairman that had led us to a situation whereby the club loses a million pound a year. He has left the club in a far worse state than when he took over and maybe the damage has already been done but i feel much better without him at the helm.

Quoted from Martz86

I'm wondering if Mike has called in this Take Over Panel company to oust Fenty so he can take control of the club

I'm thinking along those lines...