What about the smaller shareholders?

[Goddy]

Seems to have been people getting in touch with Alan Pace already. Just wondering if anyone has asked him about what ALK's intentions might be - if any - regarding small shareholders?

[Bacupboy]

Am I alone (as a shareholder of 2) in feeling totally ignored by the club during the takeover talks? Not only that, but minority shareholders have to fend for ourselves on the Internet if we want to know anything about the financial position of the club. I suspect that like me, many are older supporters whose technological ability is challenged. I have heard nothing from the club, either in writing or email, for years. I did write to the chairman last autumn about the lack of communication generally, without receiving a reply. Now I know why I didn't receive a reply. Would it be possible, or even legal, to call for a minority shareholders meeting to try to unravel the financial mess the club seems to have got itself in? I'm afraid the future for Burnley FC does not look as rosy as it did 12 months ago.

[aggi]

Am I alone (as a shareholder of 2) in feeling totally ignored by the club during the takeover talks? Not only that, but minority shareholders have to fend for ourselves on the Internet if we want to know anything about the financial position of the club. I suspect that like me, many are older supporters whose technological ability is challenged. I have heard nothing from the club, either in writing or email, for years. I did write to the chairman last autumn about the lack of communication generally, without receiving a reply. Now I know why I didn't receive a reply. Would it be possible, or even legal, to call for a minority shareholders meeting to try to unravel the financial mess the club seems to have got itself in? I'm afraid the future for Burnley FC does not look as rosy as it did 12 months ago.

You can call for one, nobody at the club is obliged to listen.

Minor shareholdings in private companies are entitled to very little.

[Paul Waine]

Am I alone (as a shareholder of 2) in feeling totally ignored by the club during the takeover talks? Not only that, but minority shareholders have to fend for ourselves on the Internet if we want to know anything about the financial position of the club. I suspect that like me, many are older supporters whose technological ability is challenged. I have heard nothing from the club, either in writing or email, for years. I did write to the chairman last autumn about the lack of communication generally, without receiving a reply. Now I know why I didn't receive a reply. Would it be possible, or even legal, to call for a minority shareholders meeting to try to unravel the financial mess the club seems to have got itself in? I'm afraid the future for Burnley FC does not look as rosy as it did 12 months ago.

Hi Bacupboy, I'm sure you are not alone, as a small shareholder, in wanting to know more about the status of the club. I'm not a shareholder. Around the time of the takeover I recall mention, probably on this mb, that some small shareholders had contacted the club. I've not heard if they got a response.

Also on the takeover thread there was mention of the "Clarets Trust" (or similar name). I think they have something like 70 shares.

Maybe it's worth a group of small shareholders getting together and approaching the club collectively.

My personal view: it may be only gaps in the financial information that makes you think the club has a "financial mess." A lot of the stuff that's been reported and the way it's been interpreted on here is very likely factual incorrect. Of course, without good information misunderstandings are always possible.

UTC

[Leisure]

Hi Bacupboy, I'm sure you are not alone, as a small shareholder, in wanting to know more about the status of the club. I'm not a shareholder. Around the time of the takeover I recall mention, probably on this mb, that some small shareholders had contacted the club. I've not heard if they got a response.

Also on the takeover thread there was mention of the "Clarets Trust" (or similar name). I think they have something like 70 shares.

Maybe it's worth a group of small shareholders getting together and approaching the club collectively.

My personal view: it may be only gaps in the financial information that makes you think the club has a "financial mess." A lot of the stuff that's been reported and the way it's been interpreted on here is very likely factual incorrect. Of course, without good information misunderstandings are always possible.

UTC

The Trust have 176 shares. I understand that Alan Pace has informed them that the will hold an AGM post-Covid.

[Paul Waine]

The Trust have 176 shares. I understand that Alan Pace has informed them that the will hold an AGM post-Covid.

Thanks, Leisure. I'm sure news of an AGM will be welcomed by many of the small shareholders.

UTC

[CaptJohn]

I've written to Mr Pace regarding this issue but still await a reply.

[Spijed]

The annoying situation regarding the shares is that many fans bought them to help the club when it needed to raise money.

Since we are now in a better situation surely it's the clubs duty to at least repay the loyalty shown by many supporters by offering to buy the shares back.

[Bacupboy]

Thanks for your comments, Paul Waine and spijed. Interestingly, I have just received notification from Companies House that our Memorandum and Articles of Association have been lodged today. Not being very well clued up on these matters, I wonder if they have been altered or what. However, as a shareholder I feel I have a right to know if they have been altered. Does anyone know how I can find out?

[Chester Perry]

Thanks for your comments, Paul Waine and spijed. Interestingly, I have just received notification from Companies House that our Memorandum and Articles of Association have been lodged today. Not being very well clued up on these matters, I wonder if they have been altered or what. However, as a shareholder I feel I have a right to know if they have been altered. Does anyone know how I can find out?

just posted this on the takeover thread - looks like a pass down of changes in articles in the holding company previously reported on that thread - which enable the lending of monies between related companies to buy shares in the same company. Allowing the club to loan money for the purpose of a related company to buy shares in it

viewtopic.php?f=2&t=49975&start=8810

[aggi]

Thanks for your comments, Paul Waine and spijed. Interestingly, I have just received notification from Companies House that our Memorandum and Articles of Association have been lodged today. Not being very well clued up on these matters, I wonder if they have been altered or what. However, as a shareholder I feel I have a right to know if they have been altered. Does anyone know how I can find out?

They will appear on Companies House in the next few days.