Shareholders' letter

[ClaretTony]

I've had an email today regarding shares that have been transferred as part of this. They want a copy of the deceased's will but he's very much alive.

[Claret Till I Die]

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[Rileybobs]

I've had an email today regarding shares that have been transferred as part of this. They want a copy of the deceased's will but he's very much alive.

There’s a bloke down at my local who could help you with that…

[the_magic_rat]

I didn't include sort code as it wasn't requested but sent my swift code as requested.
I've received an email tonight stating that I omitted my sort code & have until the 25th February to send it in or I will be issued with a cheque...

Me too! Good to see others received the same request. When I first saw the mail on my phone I couldn't see an e-mail address from the sender and half wondered if it was some kind of a scam e-mail.

[gawthorpe_view]

I didn't include sort code as it wasn't requested but sent my swift code as requested.
I've received an email tonight stating that I omitted my sort code & have until the 25th February to send it in or I will be issued with a cheque...

Same for me also, sort code was not requested, just the swift code.

[gawthorpe_view]

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Nope.

[OakworthClaret]

Same with me

Same here. Why request Swift if it’s sort code. I supplied info that was asked for at the time. Wouldn’t be surprised if lots have received the same email. This May account for the delay in sorting thinks out.

[ClaretTony]

Same here. Why request Swift if it’s sort code. I supplied info that was asked for at the time. Wouldn’t be surprised if lots have received the same email. This May account for the delay in sorting thinks out.

Was scheduled initially to be paid out in December but only now are they querying things.

[Ric_C]

Do we think everything is on track to get our payouts mid march still? I was hoping to use this money for season tickets, the early bird discount runs out at the end of March. I've got my doubts at the moment

[Chester Perry]

Was scheduled initially to be paid out in December but only now are they querying things.

makes you question what the the real plan was, of course it could be general incompetence we keep hearing about - either way it is not a good look for anyone at VSL/the club which is more or less the same people now- the club being a de-facto subsidiary of VSL now.

[Paul Waine]

makes you question what the the real plan was, of course it could be general incompetence we keep hearing about - either way it is not a good look for anyone at VSL/the club which is more or less the same people now- the club being a de-facto subsidiary of VSL now.

Hi CP, there's no "de facto" about it. BFC is a subsidiary of VSL.

[1968claret]

I put all my paperwork in before the deadline, including copies of Will etc. haven’t had any emails from club despite chasing up by email.
I went into the club a couple of weeks ago and the lady on reception checked and could see that all my paperwork had been noted as being received. So at least I know they have got it all.
It is a bit poor though to have not received any written acknowledgment.

[Juan Tanamera]

Do we think everything is on track to get our payouts mid march still? I was hoping to use this money for season tickets, the early bird discount runs out at the end of March. I've got my doubts at the moment

It makes you wonder, doesn't it.
I've bought my season card on monthly payments since that option was introduced.
And because I can't see myself buying £800 worth of goods from the club shop, I too was going to use the money to purchase my season card.
Preferably before the early bird discount runs out.

[the_magic_rat]

Regarding the belated request for bank sort code I wonder whether the original plan was for payment to be made from abroad hence the original request for swift codes.

[gawthorpe_view]

Probably coming out of the Chris Wood transfer profit now.

[dsr]

Regarding the belated request for bank sort code I wonder whether the original plan was for payment to be made from abroad hence the original request for swift codes.

Looking on the bright side, they appear to have a definite, active plan to pay it.

[Paul Waine]

Regarding the belated request for bank sort code I wonder whether the original plan was for payment to be made from abroad hence the original request for swift codes.

My guess is that one of the ALK team has experience of sending payments from US to UK and knows that SWIFT code is required in these situations, but hadn't got previous experience of UK to UK bank payments and so thought SWIFT was required also for these payments.

Calder Vale, a company registered in England, is the entity buying the shares, so I'd expect Calder Vale to be entity making the payments from a UK bank account.

Hope the share sales work out for everyone who's selling.

UTC

[HeatonMoorClaret]

Just had another email from the club saying my Share is in the name of Burnley Athletic and not Holdings ...so another form to complete. They have had my certificate for months .....plus wrote to me in the week for my sort code. Act in order springs to mind.

[dsr]

I bet they have had a lot more paperwork than they expected. Half the people on that list are dead, I reckon, and an awful lot of people (me included) will have discovered that a share or two owned by a deceased parent is suddenly worth filling in the paperwork for.

[IanMcL]

Pleased to be retaining my share.

[HeatonMoorClaret]

Athletic or Holdings

[Higham_Claret]

I too have now received an email notifying me that I have allegedly supplied the wrong share certificate, citing it is Burnley Football & Athletic Company as opposed to the required Burnley FC Holdings. Should I wish to continue with the sale of my single share, I must complete and return a “lost share certificate” form.

Apart from this being inconvenient, especially so long after the documentation was first provided, it is fundamentally wrong. I haven’t lost a share certificate, I provided the club with the only certificate with which I was provided by it when I took up the option of receiving a share in lieu of £200 circa 2009, if I recall correctly. The detail of the newly provided “lost share” form states that I paid £1 for my single share, which is not correct.

In the bigger scheme of things, these details are probably not significant barriers to completing the sale, but I am being asked by the club to accept - and have formally witnessed - that I have lost a certificate (I haven’t), I supplied the wrong certificate (I supplied the only certificate I was issued) and that I originally paid £1 for my single share (I didn’t; I accepted the share in lieu of £200).

Further, there is every chance now that I won’t receive the share sale proceeds in time to use the resultant credit to fund my season ticket renewal before the ‘early bird’ deadline expires.

The club is not presenting itself in a good light on this matter, in my opinion.

[Wokingclaret]

I bet they have had a lot more paperwork than they expected. Half the people on that list are dead, I reckon, and an awful lot of people (me included) will have discovered that a share or two owned by a deceased parent is suddenly worth filling in the paperwork for.

Think it was around 2013 when they wrote to all Shareholders, to the change over to BFC Holdings. I remember taking my old certificates in and eventually getting new ones.

[Paul Waine]

I too have now received an email notifying me that I have allegedly supplied the wrong share certificate, citing it is Burnley Football & Athletic Company as opposed to the required Burnley FC Holdings. Should I wish to continue with the sale of my single share, I must complete and return a “lost share certificate” form.

Apart from this being inconvenient, especially so long after the documentation was first provided, it is fundamentally wrong. I haven’t lost a share certificate, I provided the club with the only certificate with which I was provided by it when I took up the option of receiving a share in lieu of £200 circa 2009, if I recall correctly. The detail of the newly provided “lost share” form states that I paid £1 for my single share, which is not correct.

In the bigger scheme of things, these details are probably not significant barriers to completing the sale, but I am being asked by the club to accept - and have formally witnessed - that I have lost a certificate (I haven’t), I supplied the wrong certificate (I supplied the only certificate I was issued) and that I originally paid £1 for my single share (I didn’t; I accepted the share in lieu of £200).

Further, there is every chance now that I won’t receive the share sale proceeds in time to use the resultant credit to fund my season ticket renewal before the ‘early bird’ deadline expires.

The club is not presenting itself in a good light on this matter, in my opinion.

Hi Higham, a couple of things:

1) Don't worry about the £1 - that will be the nominal value of the share, not what you or anyone else paid for it. Just think if every time someone sold a share a new price had to be put on the share certificate. It would be impossible. Nominal value is permanent, but doesn't represent how much anyone paid for the shares they hold;

2) As Wokingclaret says, in 2013 BFC was re-structured, Athletic became the subsidiary of Holdings. New share certificates were issued to all those who presented their Athletic shares. I can understand some not doing this, maybe not realising that one day their shares might have a value.

Agree, that the administration is taking several weeks. However, the club has to get this right. They can't pay someone who hasn't presented the right certificate for the shares they have offered to buy.

Lost share certificates, or getting mixed up between the original share certificates and new ones following a corporate re-structuring is very common for small shareholders. I'm sure there would be many in this situation from the shares issued by building societies which then went on to merge with/be acquired by larger banks, especially those acquired by Santander, Sabadell and others.

Good luck. I hope it works out for you with deadlines etc.

UTC

[ClaretTony]

I too have now received an email notifying me that I have allegedly supplied the wrong share certificate, citing it is Burnley Football & Athletic Company as opposed to the required Burnley FC Holdings. Should I wish to continue with the sale of my single share, I must complete and return a “lost share certificate” form.

Apart from this being inconvenient, especially so long after the documentation was first provided, it is fundamentally wrong. I haven’t lost a share certificate, I provided the club with the only certificate with which I was provided by it when I took up the option of receiving a share in lieu of £200 circa 2009, if I recall correctly. The detail of the newly provided “lost share” form states that I paid £1 for my single share, which is not correct.

In the bigger scheme of things, these details are probably not significant barriers to completing the sale, but I am being asked by the club to accept - and have formally witnessed - that I have lost a certificate (I haven’t), I supplied the wrong certificate (I supplied the only certificate I was issued) and that I originally paid £1 for my single share (I didn’t; I accepted the share in lieu of £200).

Further, there is every chance now that I won’t receive the share sale proceeds in time to use the resultant credit to fund my season ticket renewal before the ‘early bird’ deadline expires.

The club is not presenting itself in a good light on this matter, in my opinion.

Received similar.

[arise_sir_charge]

I too have now received an email notifying me that I have allegedly supplied the wrong share certificate, citing it is Burnley Football & Athletic Company as opposed to the required Burnley FC Holdings. Should I wish to continue with the sale of my single share, I must complete and return a “lost share certificate” form.

Apart from this being inconvenient, especially so long after the documentation was first provided, it is fundamentally wrong. I haven’t lost a share certificate, I provided the club with the only certificate with which I was provided by it when I took up the option of receiving a share in lieu of £200 circa 2009, if I recall correctly. The detail of the newly provided “lost share” form states that I paid £1 for my single share, which is not correct.

In the bigger scheme of things, these details are probably not significant barriers to completing the sale, but I am being asked by the club to accept - and have formally witnessed - that I have lost a certificate (I haven’t), I supplied the wrong certificate (I supplied the only certificate I was issued) and that I originally paid £1 for my single share (I didn’t; I accepted the share in lieu of £200).

Further, there is every chance now that I won’t receive the share sale proceeds in time to use the resultant credit to fund my season ticket renewal before the ‘early bird’ deadline expires.

The club is not presenting itself in a good light on this matter, in my opinion.

Nothing at all unusual about any of this and Paul Waine explains it very well above. This is all pretty common in these scenarios and it’s not possible to pre-empt the multiple differences until the paperwork is in and they know what they are dealing with.

I have reported lost certificates and this morning was sent a request to sign an indemnity which Is precisely what I anticipated would happen.

I don’t see why what you’ve been asked to do will delay things beyond the early bird deadline and even if it did I’d fully expect a compromise could be made for those affected.

[Higham_Claret]

I appreciate the constructive replies, thank you.

On the point Paul references about a notional value of an “Ordinary Share”, as I think the provided form describes it, the wording states that I “paid” £1 for it. It is likely that the club is referring to its notional value, but that’s not what it cost me. I acknowledge it’s not a deal-breaker, and the legal process must be managed properly, but the phrasing seems a little careless to me. And given its a legal document, albeit a routine, means-to-an-end form, that gives me some concern about how the process is being administered.

[ClaretTony]

I appreciate the constructive replies, thank you.

On the point Paul references about a notional value of an “Ordinary Share”, as I think the provided form describes it, the wording states that I “paid” £1 for it. It is likely that the club is referring to its notional value, but that’s not what it cost me. I acknowledge it’s not a deal-breaker, and the legal process must be managed properly, but the phrasing seems a little careless to me. And given its a legal document, albeit a routine, means-to-an-end form, that gives me some concern about how the process is being administered.

They are £1 shares. How much they sell for isn’t relevant.

[Chester Perry]

They are £1 shares. How much they sell for isn’t relevant.

unless it affects personal tax on capital gains

[dsr]

I appreciate the constructive replies, thank you.

On the point Paul references about a notional value of an “Ordinary Share”, as I think the provided form describes it, the wording states that I “paid” £1 for it. It is likely that the club is referring to its notional value, but that’s not what it cost me. I acknowledge it’s not a deal-breaker, and the legal process must be managed properly, but the phrasing seems a little careless to me. And given its a legal document, albeit a routine, means-to-an-end form, that gives me some concern about how the process is being administered.

You're shooting at the wrong moon with that one. The limited liability act of 18xx, whenever it was, decreed that the price put on the share certificate is the nominal value of the share, and if it says "paid" it means that the share is fully paid and the shareholders can't be tapped up for more if the company goes bust. The nominal value does not include any share premium paid to the company or any price in excess of nominal value paid to a third party. Burnley FC can't make a unilateral decision to do it differently.

As far as the certificates go, they were sent out automatically. I'm sure they weren't sent out just on request, because I wouldn't have requested my late father's shares to be still in his name. I would have done the paperwork then. If you didn't get yours, it's possibly because you have moved house since the shares were first put into your name?

[Foulthrow]

Can anyone sign as a witness on these lost share certificates?

[bfcjg]

Any sign of the cash yet ?

[Juan Tanamera]

I too have now received an email notifying me that I have allegedly supplied the wrong share certificate, citing it is Burnley Football & Athletic Company as opposed to the required Burnley FC Holdings. Should I wish to continue with the sale of my single share, I must complete and return a “lost share certificate” form.

Apart from this being inconvenient, especially so long after the documentation was first provided, it is fundamentally wrong. I haven’t lost a share certificate, I provided the club with the only certificate with which I was provided by it when I took up the option of receiving a share in lieu of £200 circa 2009, if I recall correctly. The detail of the newly provided “lost share” form states that I paid £1 for my single share, which is not correct.

In the bigger scheme of things, these details are probably not significant barriers to completing the sale, but I am being asked by the club to accept - and have formally witnessed - that I have lost a certificate (I haven’t), I supplied the wrong certificate (I supplied the only certificate I was issued) and that I originally paid £1 for my single share (I didn’t; I accepted the share in lieu of £200).

Further, there is every chance now that I won’t receive the share sale proceeds in time to use the resultant credit to fund my season ticket renewal before the ‘early bird’ deadline expires.

The club is not presenting itself in a good light on this matter, in my opinion.

As far as I can remember, the share I sent in is the one I received in lieu of £200 in 2009 but I don't recall being asked to exchange it to a Burnley FC Holdings.
However, as I've stated further up this page, I received an email from the club a few weeks ago saying I hadn't filled in any of the forms properly (I had, and delivered them personally to reception on Brunshaw road).
I re-printed and filled in every form again and then yet again, delivered them personally.
I asked for a receipt and immediately copied and emailed back to the club.
Within minutes I received a reply back stating they now had everything required from me.
So I can only assume my 'original' certificate is kosher.

[gawthorpe_view]

Any sign of the cash yet ?

Nope.

[Foulthrow]

Just noticed that the deadline for the lost share certificate was yesterday. Does this mean I’ve missed out? They only sent me the email on Friday, not much time to get it sent in.

[bfcjg]

Getting farcical this now, how many deadlines will there be, I thought the money was due paying now.

[Burnley Ace]

Just noticed that the deadline for the lost share certificate was yesterday. Does this mean I’ve missed out? They only sent me the email on Friday, not much time to get it sent in.

It seems to be a very short and arbitrary date when they have had months to sort out this (inevitable) lost certificate issue!

[arise_sir_charge]

Just noticed that the deadline for the lost share certificate was yesterday. Does this mean I’ve missed out? They only sent me the email on Friday, not much time to get it sent in.

Wouldn’t think so, it’s a date they applied and I don’t think it was a “deadline” as such. They will be applying dates to requests so as to try and get it done and dusted ASAP.

[ClaretTony]

Just noticed that the deadline for the lost share certificate was yesterday. Does this mean I’ve missed out? They only sent me the email on Friday, not much time to get it sent in.

I had to deal with a similar situation and was only able to get the form signed and witnessed on Tuesday night. I hand delivered it yesterday but was told at reception that I'd missed the cut off date. I did pass it to the Fan Engagement Manager and she said it was OK. But 1st March was clearly a deadline and it didn't give people much time. I received the email on Friday evening.

[arise_sir_charge]

I had to deal with a similar situation and was only able to get the form signed and witnessed on Tuesday night. I hand delivered it yesterday but was told at reception that I'd missed the cut off date. I did pass it to the Fan Engagement Manager and she said it was OK. But 1st March was clearly a deadline and it didn't give people much time. I received the email on Friday evening.

I’d argue that it wasn’t clearly a “deadline” at all.

Your email may have been different but mine said “We kindly ask……by Tuesday 1st March”.

If it was a defined cut off point it would need to be detailed much more clearly than that.

[ClaretTony]

I’d argue that it wasn’t clearly a “deadline” at all.

Your email may have been different but mine said “We kindly ask……by Tuesday 1st March”.

If it was a defined cut off point it would need to be detailed much more clearly than that.

I received the same email but when I took mine in yesterday, by hand, I was told the cut off date had been the previous day. Fortunately, I was able to speak to someone on another matter who was able to deal with this for me as well.

[TopCat]

I hadn't seen the deadline date and only submitted mine today.
Is that going to be an issue?

[arise_sir_charge]

Shouldn’t be, they’ve made an exception for Tony so you should be fine.

[longhair]

Has anybody logged on to season ticket renewal look up history.Shareholder gold card listed dated 21/2/22 is this what we have been waiting for ?

[ClaretTony]

Has anybody logged on to season ticket renewal look up history.Shareholder gold card listed dated 21/2/22 is this what we have been waiting for ?

Nothing on mine but the points awarded would go on your TeamCard wouldn't they? That's not part of the ticketing system.

[gawthorpe_view]

It's appeared on mine but with no value attached to it yet.

[ClaretTony]

It's appeared on mine but with no value attached to it yet.

Where have you found it?

[gawthorpe_view]

Purchase history.

[strayclaret]

On mine as well

[ClaretTony]

Purchase history.

not on mine - just checked purchase history and last two entries are tickets for Brentford and Arsenal.

I was told last week that things are getting close to completion.