There is no need for Lenagan to approach the minority shareholders as he can complete the takeover by buying DW's shares alone. The minority shareholders can't refuse to sell. They should be informed as to what is happening but they will only to be told it is happening, that they can vote on the takeover (once the deal has been agreed) and given its a dead cert to go through what they are going to get for their shares (either cash or shares in the company that bought the club).
My point - If the "deal" has already been concluded, as many intimate on this site, re the Chev Walker aborted signing. The shareholders (irrespective of how many shares or willingness to sell) will have been informed of an agreed sale.
IMO this could not be withheld information as is being suggested by some posters.
So it must be DW and ML that aborted the "signing" of Mr Walker. Lenighan (or anyone else), do not have the authority to veto or otherwise alter any proceedings at the club until formally (legally) agreed and announced. The lack of shareholder input (re sale), one way or another highlights this.
There is no need for Lenagan to approach the minority shareholders as he can complete the takeover by buying DW's shares alone. The minority shareholders can't refuse to sell. They should be informed as to what is happening but they will only to be told it is happening, that they can vote on the takeover (once the deal has been agreed) and given its a dead cert to go through what they are going to get for their shares (either cash or shares in the company that bought the club).
My point - If the "deal" has already been concluded, as many intimate on this site, re the Chev Walker aborted signing. The shareholders (irrespective of how many shares or willingness to sell) will have been informed of an agreed sale.
IMO this could not be withheld information as is being suggested by some posters.
So it must be DW and ML that aborted the "signing" of Mr Walker. Lenighan (or anyone else), do not have the authority to veto or otherwise alter any proceedings at the club until formally (legally) agreed and announced. The lack of shareholder input (re sale), one way or another highlights this.
ML said months ago he thought Walker was too slow and denied any interest.
Gareth Thomas before his first game: "You wanna spend 10 mins getting smashed up by these guys..Big dudes here.."
There is no need for Lenagan to approach the minority shareholders as he can complete the takeover by buying DW's shares alone. The minority shareholders can't refuse to sell. They should be informed as to what is happening but they will only to be told it is happening, that they can vote on the takeover (once the deal has been agreed) and given its a dead cert to go through what they are going to get for their shares (either cash or shares in the company that bought the club).
My point - If the "deal" has already been concluded, as many intimate on this site, re the Chev Walker aborted signing. The shareholders (irrespective of how many shares or willingness to sell) will have been informed of an agreed sale.
IMO this could not be withheld information as is being suggested by some posters.
So it must be DW and ML that aborted the "signing" of Mr Walker. Lenighan (or anyone else), do not have the authority to veto or otherwise alter any proceedings at the club until formally (legally) agreed and announced. The lack of shareholder input (re sale), one way or another highlights this.
That would appear to be true - unless the shareholders are keeping quiet and not announcing they have sold already !!
ML said months ago he thought Walker was too slow and denied any interest.
Why allow the persistent rumours to exist surrounding him? This could have been stopped immediately with a confirmed newspaper denial rather than allow the innuendo.
As for being slow - he's having a laugh at the "pedestrians" playing for us in the three-quarters.
This may seem a silly question but what actually is the name of the company that Whelan is selling shares in, there is no Wigan Warriors or Wigan Rugby League listed at Companies House and he will not be selling Whelco because he intends expanding its operations.
emperor kel posted:
This may seem a silly question but what actually is the name of the company that Whelan is selling shares in, there is no Wigan Warriors or Wigan Rugby League listed at Companies House and he will not be selling Whelco because he intends expanding its operations.
Wigan RL were always registered as Wigan Football Club Ltd (and it really annoys the latics fans )
There are 10 types of people, those who get binary and those who dont!
emperor kel posted:
This may seem a silly question but what actually is the name of the company that Whelan is selling shares in, there is no Wigan Warriors or Wigan Rugby League listed at Companies House and he will not be selling Whelco because he intends expanding its operations.
Wigan RL were always registered as Wigan Football Club Ltd (and it really annoys the latics fans )
another meaning to there's only one team in Wigan
about the shareholder issues, i can understand that if a majority takeover had been completed surely the other shareholders should know?
although on the other hand, if we just look at things as basic shares, if i for instance bought 20 shares in Wigan, the other shareholders would not be informed of this, and so maybe Lenegan's share purchases are just simply "my" case, scaled up.
WIIIIIIIIIIIIIIIIIIIIIIIIGAN!!!
WRLFC & SCFC FOR LIFE!!!
WE HATE LATICS, SAINTS, MACCLESFIELD, BURNLEY, CITY, LEEDS, WIRE AND WREXHAM!!!!
emperor kel posted:
This may seem a silly question but what actually is the name of the company that Whelan is selling shares in, there is no Wigan Warriors or Wigan Rugby League listed at Companies House and he will not be selling Whelco because he intends expanding its operations.
Wigan RL were always registered as Wigan Football Club Ltd (and it really annoys the latics fans )
Thanks for that, just had a look and it is a private company therefore there is no need to involve all shareholders about any transaction between two or more holders. Unless there is a condition in the Memo and Arts which says that shares have to be offerred to existing holders before they sold to an outsider. (this is different to a public company where if someone has in excess of 29% they have to make an offer for all the shares and all holders would be notified)
One thing though no accounts have been filed since November 2005 and it looks as if the filing date has been amended
Lazy J posted:
Wigan RL were always registered as Wigan Football Club Ltd (and it really annoys the latics fans )
Its slightly more complicated than that, Wigan Warriors and Wigan Athletic exist as separate businesses, the Wigan Football Club Ltd is just a business which Whelan uses to run the clubs.
If Lenegan takes over at Wigan its unlikely that he will use his own money directly, instead he will by Whelans shares using a company he owns, or by setting up a company especially for Wigan Warriors. A lot of the people who invest in sports team do so via a company as it keeps there own money away from the club itself.
