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What would it take?

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WayneBurnettsJockstrap
September 24, 2020, 1:12pm

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Having read about the alleged Wrexham takeover and that they are intending to put 2 million into the coffers, the question is....

What would it cost for someone to buy GTFC lock stock and barrel?

Was there ever any figure mooted about with the alleged Shutes takeover.

Obviously any amount would have to include paying off Directors and non-Directors loans etc


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TheRealJohnLewis
September 24, 2020, 1:25pm
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It would cost the amount of Fenty's share plus the value of any outstanding loan (the only money we owe is to Fenty), plus any goodwlll Fenty wishes to place on top of the amount.

Which as at 31 May 19, when the last accounts were published. Fenty's loan stood at £1.55m and his share are valued at £975k which equates to £2.525m. If the share amount bought by the new owners amount to greater than 50%, then they would have to offer to buy everyone's shares, which are valued at £2.4 plus Fenty's loan of £1.55 so the figure could be just shy of £4m.

The stumbling block always seems to be future funds though.
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Boris Johnson
September 24, 2020, 2:03pm
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dont know sorry
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LondonMariner43
September 24, 2020, 2:49pm
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Are you planning to make an offer?

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mimma
September 24, 2020, 3:31pm
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As a matter of interest do they have to offer to buy the remaining shares or can they leave them to whoever owns them?

I have some shares and would like to keep them, could I be forced into selling?
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KingstonMariner
September 24, 2020, 4:24pm
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Quoted from mimma
As a matter of interest do they have to offer to buy the remaining shares or can they leave them to whoever owns them?

I have some shares and would like to keep them, could I be forced into selling?


It’s academic. I wouldn’t worry about it.

Anyone bidding to buy over 50% of the shares would be forced to offer to buy everyone else’s shares as well as the ones that give them a controlling interest. Plus pay back Fenty’s loans. Plus satisfy the board that they had plenty of cash left over to tide the club over during times of cash shortages.


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Oh my friend we're older but no wiser,
For in our hearts the dreams are still the same.
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denni266
September 24, 2020, 4:39pm

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Dont think any one is gonna stump up 4 mill and put 2/3 mill in a little safe to buy little old Grimsby Town , So i would think small private share owners dont have any thing to worry about  
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Iknowyoursecret
September 24, 2020, 4:45pm
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You have to buy 27% of the club and at this point you have to offer to buy the remaining shares at the same price you pay for the first 27%,subject to f a approval
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pen penfras
September 24, 2020, 4:46pm

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Quoted from mimma
As a matter of interest do they have to offer to buy the remaining shares or can they leave them to whoever owns them?

I have some shares and would like to keep them, could I be forced into selling?


Yes, they can force you into selling if they wanted to take 100% ownership of the club and buy a sufficient stake to enforce that. However the board have always stated that they do not wish to sell to somebody who wants to do that as they like the model currently in place. It's also questionable why somebody wants the full 100% when a controlling stake is much lower than that.
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moosey_club
September 24, 2020, 5:19pm
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Look into John's eyes......deep deep deep into Johns eyes.........can you see a number ????   There are many variations as far as i can understand it,

as others have said potentially an actual real overall debt/ share issue to resolve of around 3-4 million would be a viable real total but that would maybe only apply to a hostile takeover if someone buys all the shares that JF doesnt own to gain control but is then forced to buy his , then pay off his benign loans to gain full ownership. Any person doing so may also need proof of further funds that will be committed or available to run the club, otherwise why would people sell their shares ?

Someone who approached JF with a friendly offer may get a controlling share for alot less, not triggering the offer to buy all share clause and JF may even stand true to the "benign" part of his loan to the right offer/ package.

There is no "price" as such because in reality it all depends on John and whether or not he wants to sell to the interested party in the first place. He can decide to scrub his debt, defer his debt, agree installment payments of his debt or demand in full as part of any takeover and thats before he and the board demand/insist on future funding of god knows how much, which again is just what ? Based on length of his tenure and general understanding of the amount of loans owed to our only benefactor , any investor would "only" need to have £ 125k per year to match the average level of annual investment currently provided.







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