Springburnjag Posted November 25, 2019 Report Share Posted November 25, 2019 Just now, Jordanhill Jag said: What are you talking about you being practical ? You clearly have bought into the concept that if you have a Majority Shareholder then thats it -as No one can challenge it The Directors have clear defined requirements under the Companies Act - you dont have to challenge them - go to Court or do anything - the responsibilities are a legal requirement and they cant be ignored - thats why we have Laws protecting the Rights of Shareholders - or we could fall into the scenario your describing And 75% of the Share Capital isnt against me - the Trust Shares are seperate and governed by the Deed of Trust - or are you suggesting 3BC & the Trust are a defacto Voting Block ? No you don’t get it you say you are a shareholder did you get a vote or a say in removing Jlow ? No my point is who would challenge it , how and how would they pay for it ? im being practical ....you may be right in theory but if no one goes to court nothing happens .....yes ? Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted November 25, 2019 Report Share Posted November 25, 2019 1 hour ago, Springburnjag said: Boards of directors are responsible to shareholders and guess who the biggest one of those are ..... did you get consulted whe. Beattie and co changed the old board ? No based on doesn’t mean slavishly following as we don’t need to raise the cash to buy shares things have move on can’t you ? If the 55% Shareholder wishes the Board to carry out an instruction it has to do so formally - its recorded - its then raised at a Board Meeting - the Directors Vote on it - they can Vote not to carry it out - the 55% can then remove them as Directors - but at all points the Directors take the decisions - the Shareholder has No power beyond the removal of Directors or voting at the AGM - what part of that dont you understand ? Quote Link to comment Share on other sites More sharing options...
Springburnjag Posted November 25, 2019 Report Share Posted November 25, 2019 1 minute ago, Jordanhill Jag said: If the 55% Shareholder wishes the Board to carry out an instruction it has to do so formally - its recorded - its then raised at a Board Meeting - the Directors Vote on it - they can Vote not to carry it out - the 55% can then remove them as Directors - but at all points the Directors take the decisions - the Shareholder has No power beyond the removal of Directors or voting at the AGM - what part of that dont you understand ? We agree the 55% plus the 20% not voting means .... Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted November 25, 2019 Report Share Posted November 25, 2019 1 minute ago, Springburnjag said: No you don’t get it you say you are a shareholder did you get a vote or a say in removing Jlow ? No my point is who would challenge it , how and how would they pay for it ? im being practical ....you may be right in theory but if no one goes to court nothing happens .....yes ? Nope - they didnt need my Vote - they drew up a Written Legal Mandate removing the Board - served it formally on the Club as required under the Companies Act Look the Companies Act is a legal requirement - you by Law have to comply - No one needs to go to Court - its the Law - Directors have to comply Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted November 25, 2019 Report Share Posted November 25, 2019 1 minute ago, Springburnjag said: We agree the 55% plus the 20% not voting means .... It means that in all instances any Major Shareholder can give an instruction formally- and its voted and recorded by the Directors - the only Power available is to remove Directors - nothing more - the 55% means ZERO at the Board Meeting - its one member one vote - casting vote by the Chair Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted November 25, 2019 Report Share Posted November 25, 2019 3 minutes ago, Springburnjag said: We agree the 55% plus the 20% not voting means .... You honestly believe ( and your not alone by all accounts ) that a Majority Shareholding means that you can take decisions at the Club ? No it doesnt - they are just another Shareholder Quote Link to comment Share on other sites More sharing options...
Springburnjag Posted November 25, 2019 Report Share Posted November 25, 2019 Just now, Jordanhill Jag said: It means that in all instances any Major Shareholder can give an instruction formally- and its voted and recorded by the Directors - the only Power available is to remove Directors - nothing more - the 55% means ZERO at the Board Meeting - its one member one vote - casting vote by the Chair Super ....the point I have been struggling to get over is ....let’s imagine the club did something that was in contravention of company law .....so what ? How would it get raised and determined ? Actually with great difficulty and needing some cash .... Quote Link to comment Share on other sites More sharing options...
Springburnjag Posted November 25, 2019 Report Share Posted November 25, 2019 Just now, Jordanhill Jag said: You honestly believe ( and your not alone by all accounts ) that a Majority Shareholding means that you can take decisions at the Club ? No it doesnt - they are just another Shareholder If you believe that you are very naive ... really Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted November 25, 2019 Report Share Posted November 25, 2019 1 hour ago, Firhillista said: But you have to start somewhere. Basing initial plans on the Motherwell Trust - which by all accounts seems to be successful - looks like a reasonable place to start, following which input from the wider Thistle fan base can be used to adjust things to more specifically target Thistle's needs. Is the debate on here not more about whether people trust the new owners to do this properly or not? Personally, I've not seen anything yet which gives me cause for concern about the intentions of the new owners or the interim board. That may change in the fulness of time, but surely we can give them the benefit of the doubt at this stage? You start by Consulting the Fans not by dictating the Model - if its going to be there Ownership then they decide the Model ? Quote Link to comment Share on other sites More sharing options...
Springburnjag Posted November 25, 2019 Report Share Posted November 25, 2019 1 minute ago, Jordanhill Jag said: You start by Consulting the Fans not by dictating the Model - if its going to be there Ownership then they decide the Model ? God are you always do negative ? given where we are what’s your plan ? Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted November 25, 2019 Report Share Posted November 25, 2019 Just now, Springburnjag said: If you believe that you are very naive ... really So what your saying is that a Majority Shareholder makes the decisions of what happens in the Company ? Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted November 25, 2019 Report Share Posted November 25, 2019 3 minutes ago, Springburnjag said: Super ....the point I have been struggling to get over is ....let’s imagine the club did something that was in contravention of company law .....so what ? How would it get raised and determined ? Actually with great difficulty and needing some cash .... I really hope you are nowhere near the workings of the temporary board or the steering group going forward going with either your basic lack of understanding of company law or your determination to ignore it Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted November 25, 2019 Report Share Posted November 25, 2019 1 minute ago, Springburnjag said: God are you always do negative ? given where we are what’s your plan ? You consult the Fans - you give them numerous Models - narrow it down to two - let them Vote Quote Link to comment Share on other sites More sharing options...
Springburnjag Posted November 25, 2019 Report Share Posted November 25, 2019 Just now, Jordanhill Jag said: So what your saying is that a Majority Shareholder makes the decisions of what happens in the Company ? Can I just tell you in many instances a MINORITY shareholding can do that ...particularly in a private company ... Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted November 25, 2019 Report Share Posted November 25, 2019 5 minutes ago, Springburnjag said: Super ....the point I have been struggling to get over is ....let’s imagine the club did something that was in contravention of company law .....so what ? How would it get raised and determined ? Actually with great difficulty and needing some cash .... FFS by reporting it to the required Authorites - as you would be in non compliance with the Companies Act and thats an offence there is No difficulty and No cash required !!!!!!!!!!!!!!!!!!!!!!!!!!!! Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted November 25, 2019 Report Share Posted November 25, 2019 (edited) 2 minutes ago, Springburnjag said: Can I just tell you in many instances a MINORITY shareholding can do that ...particularly in a private company ... No they cant - only Directors make decisions legally If a decision was made by a Shareholder - lets say regards H&S ( extreme but not impossible ) there was a fatality - the Directors get prosecuted and go to Jail - not the Shareholder - thats why all decisions are by them legally Edited November 25, 2019 by Jordanhill Jag Quote Link to comment Share on other sites More sharing options...
Springburnjag Posted November 25, 2019 Report Share Posted November 25, 2019 1 minute ago, Norgethistle said: I really hope you are nowhere near the workings of the temporary board or the steering group going forward going with either your basic lack of understanding of company law or your determination to ignore it I’m not so chill but the lack of understanding you and jj have on how companies actually work and particularly small private ones is amazing as we are talking many private companies are ignoring company law and nothing is happening Quote Link to comment Share on other sites More sharing options...
Springburnjag Posted November 25, 2019 Report Share Posted November 25, 2019 Just now, Jordanhill Jag said: No they cant - only Directors make decisions legally You really are naive formally yes and work out how you get from a to b Quote Link to comment Share on other sites More sharing options...
Springburnjag Posted November 25, 2019 Report Share Posted November 25, 2019 1 minute ago, Jordanhill Jag said: FFS by reporting it to the required Authorites - as you would be in non compliance with the Companies Act and thats an offence there is No difficulty and No cash required !!!!!!!!!!!!!!!!!!!!!!!!!!!! Who would do that what’s the process what’s the timescale what’s the sanction hiw often does it happen your talking theory in real life .,,, Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted November 25, 2019 Report Share Posted November 25, 2019 1 minute ago, Springburnjag said: Who would do that what’s the process what’s the timescale what’s the sanction hiw often does it happen your talking theory in real life .,,, No Im talking the legal process - you stated you have to go to Court - you dont And it happens all the time Sanctions are Fines or banned from being a Director Its not Theory - you can report via a Govt website Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted November 25, 2019 Report Share Posted November 25, 2019 5 minutes ago, Springburnjag said: I’m not so chill but the lack of understanding you and jj have on how companies actually work and particularly small private ones is amazing as we are talking many private companies are ignoring company law and nothing is happening These companies may not have 1500 shareholders Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted November 25, 2019 Report Share Posted November 25, 2019 5 minutes ago, Springburnjag said: You really are naive formally yes and work out how you get from a to b Not formally - 100% in all decisions as required by the M&A of the said Company and ours refers to the Companies Act Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted November 25, 2019 Report Share Posted November 25, 2019 7 minutes ago, Springburnjag said: I’m not so chill but the lack of understanding you and jj have on how companies actually work and particularly small private ones is amazing as we are talking many private companies are ignoring company law and nothing is happening Small Owner managed Companies No doubt they are Shareholder & Director are the same person - thats not the case with PTFC Quote Link to comment Share on other sites More sharing options...
Springburnjag Posted November 25, 2019 Report Share Posted November 25, 2019 Just now, Jordanhill Jag said: Not formally - 100% in all decisions as required by the M&A of the said Company and ours refers to the Companies Act You drive you’ve broken the law nothing happens Happens every day Quote Link to comment Share on other sites More sharing options...
Springburnjag Posted November 25, 2019 Report Share Posted November 25, 2019 1 minute ago, Jordanhill Jag said: Small Owner managed Companies No doubt they are Shareholder & Director are the same person - thats not the case with PTFC It ain’t gonna happen Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.