Usmanov

[Kinky Koeman]

 

[Tipp blue]

View attachment 60184

That's the one except bigger and made out of 24 karat gold with diamonds for eyes.

 

[Brisan123]

Moshiri has said he has no wish to buy out small shareholders but I suppose that could change. He would have to deal with individuals who probably do not wish to sell. Only when and if he reaches 90% does he have any legal right or obligation to buy them.

It’s the larger shareholders like Kenwright I was referring to not the smaller 5 and 10 shares each holders

 

[bring the ghost on]

I beg to differ. Under the Companies Act ,when the 90% threshold is reached ,the majority shareholder can compulsorily purchase the remaining shares. Equally ,the minority shareholders can oblige the majority shareholder to buy them out.

Thats only on an exit mate. You can’t just act for market value at any time.

 

[dockroad]

Thats only on an exit mate. You can’t just act for market value at any time.
[/QUOTE
Not sure what you mean . Whose exit ?
If Moshiri increased his holding to 90% what I've said is correct .

 

[Kurt.]

Cynical blues aren't necessarily reds.

The paranoia is hilarious.

"New member. Bit miserable. MUST BE A KOPITE"

9/10 the shouts are proven wrong and in the rare instance of a kopite WUM - open allegations don't help moderators - use the report feature and we'll take a look an monitor. The same applies to moderators - inferring openly on a hunch isn't fair to the member, nor helpful with the paranoia.

It's very rare a member on here is a kopite WUM - take this thread, one member jumped on as a kopite has a established Twitter account and is clearly a blue...

Hmmmmmm..... defending kopites on an Everton forum..

*checks post history

 

[bring the ghost on]

Not sure what you mean . Whose exit ?
If Moshiri increased his holding to 90% what I've said is correct .

You have said that if Moshiri owns 90%+ of the shares, then any minority shareholder can compel him to purchase their shares at market value (and he can also force them to sell).

That’s not correct - the squeeze out rights under the Companies Act only applies if there is an exit/takeover bid.

For example, if a third party buyer wanted to acquire 100% of Everton and Moshiri owned 90% of the shares, in those circumstances he could rely on CA 2006 to force the minority shareholders to sell to the purchaser (and likewise, they could compel him to secure an offer from the purchaser for their shares if they wanted).

The squeeze out right is essentially a statutory drag along and tag along with a 90% threshold - however it can’t just be used to force share purchases/sales when there is no takeover bid.

 

[dockroad]

You have said that if Moshiri owns 90%+ of the shares, then any minority shareholder can compel him to purchase their shares at market value (and he can also force them to sell).

That’s not correct - the squeeze out rights under the Companies Act only applies if there is an exit/takeover bid.

For example, if a third party buyer wanted to acquire 100% of Everton and Moshiri owned 90% of the shares, in those circumstances he could rely on CA 2006 to force the minority shareholders to sell to the purchaser (and likewise, they could compel him to secure an offer from the purchaser for their shares if they wanted).

The squeeze out right is essentially a statutory drag along and tag along with a 90% threshold - however it can’t just be used to force share purchases/sales when there is no takeover bid.

Thanks for your full explanation. I am aware of the squeeze-out rights in the case of a takeover but I have always understood the same rule applies at any time.

 

[jayonenote]

T

No what ?

The answer is NO...because the way EFC is set up there is no obligatory trigger

 

[matty1878]

If he comes aboard watch us go!

 

[dockroad]

T

The answer is NO...because the way EFC is set up there is no obligatory trigger

Is Everton FC outside the scope of the Companies Act ?

 

[magicjuan]

Good post as usual.....but I don't think Green was the power behind Kenwright in the same way that Usmanov 'could' be behind Moshiri, or the way the American is the power behind Levy ,and Abramovich still wields the power at Chelsea. And there are many more examples,as you imply. Its pretty certain in fact indisputable that Green helped Bill financially, and apart from the BWI adventure there is no direct link as far as I know...in fact I've always suspected that Bill got cash from Green by way of investment in his shows and films, and this was just another way of giving Bill money which eventually found its way to Everton. Bare in mind that is just a theory/possibility. What isn't a theory ,and is as close to fact as it can be,is what I was told was another source of 'income' for Bill, perfectly legal before the usual suspects starting their nonsense,but which I can't break a confidence to detail here.

Green's involvement was underwriting loans, acting as guarantor and knocking back middle eastern investors...

 

[catcherintherye]

I would think that in terms of FFP etc, its better for Usmanov to be 'on the outside throwing money In' rather than being 'on the inside, throwing money out'...if you get my drift.

Yes I agree. Also politically speaking far better to have a clean face like Moshiri running things.

 

[jayonenote]

I beg to differ. Under the Companies Act ,when the 90% threshold is reached ,the majority shareholder can compulsorily purchase the remaining shares. Equally ,the minority shareholders can oblige the majority shareholder to buy them out.

Are EFC a company governed by the Companies Act?

 

[dockroad]

Are EFC a company governed by the Companies Act?

EFC is a private limited company but is registered at Companies House so I would think the answere is yes. Unless you know different ?