Some of the main points are...

They are preferential, which means they get an agreed fixed dividend ahead of any ordinary shares.

They are non voting so don't get a say at AGM. He will be on the board though.

They're redeemable (I think) in essence it's loan capital but it can be converted to equity... this is what Delia/Michael did when they initially loaned the club money... thus was debt and repayable until it was converted into equity.

I'm no expert and so I'll defer to other Wrath subject matter experts.

Posted By: Worthing Yellow on August 24th 2022 at 12:50:22

Message Thread

C shares (NCFC) - Jester, Aug 24, 12:07:14
- Any significance in the seven year term? Is that when Delia and Michael are planning to (NCFC) - The Gaffer, Aug 24, 13:57:39
- Isn’t the layman’s summary actually very simple? (NCFC) - SimonOTBC, Aug 24, 12:54:08
  - Is there a clause that will stop people singing U-S-A, U-S-A? (n/m) (NCFC) - BSE Canary, Aug 24, 14:49:01
    - It will be mandatory when we are 100% American owned.... (NCFC) - usacanary, Aug 24, 14:56:39
  - Can Attanasio (or anyone else) sell the Preference shares to 3rd party (NCFC) - KevinBond, Aug 24, 13:58:32
    - I’ve not seen the full terms of the shares (NCFC) - SimonOTBC, Aug 24, 15:00:08
- Some of the main points are... (NCFC) - Worthing Yellow, Aug 24, 12:50:22
  - ✅ (n/m) (NCFC) - SimonOTBC, Aug 24, 12:54:45
- Oh I’m so glad you said that! It didn’t clear things up for me either but I just read (NCFC) - Bravo win or die, Aug 24, 12:30:11
- It's not you, it's abysmal (NCFC) - CWC, Aug 24, 12:19:48
  - Surely Journalism 101 would be to... (NCFC) - usacanary, Aug 24, 13:50:17
  - Given there are some basics that are wrong.... (NCFC) - SimonOTBC, Aug 24, 12:46:47
    - me too, hence the (Google) (NCFC) - CWC, Aug 24, 14:49:08
    - Indeed (n/m) (NCFC) - Yellalee, Aug 24, 13:08:38
- Need to know how many he is buying and at what price and… (NCFC) - loz, Aug 24, 12:18:50
  - And is it just him or is anyone else buying C shares (n/m) (NCFC) - KevinBond, Aug 24, 12:56:51
    - Wouldnt be surprised if Webber acquires some (n/m) (NCFC) - KevinBond, Aug 24, 13:00:17
  - Isn’t he buying 10 million for £1 each? (n/m) (NCFC) - Duck, Aug 24, 12:23:54
    - No that’s the nominal price … (NCFC) - loz, Aug 24, 12:25:42
      - Could in theory sell ten million at £100 and we’d be… (NCFC) - loz, Aug 24, 12:34:32
        
        Given the 7% is set based on nominal value.... (NCFC) - SimonOTBC, Aug 24, 12:48:24
        
        Also later on when/if the club buy them back the most they will pay is £10m (NCFC) - Ruttles, Aug 24, 13:08:18
        
        That bit that worries me slightly is...... (NCFC) - usacanary, Aug 24, 14:34:52
        
        possibly a 'very' good investment (NCFC) - CWC, Aug 24, 15:02:56
        
        Yes (NCFC) - SimonOTBC, Aug 24, 17:12:10
        
        No I think you nailed it. (n/m) (NCFC) - usacanary, Aug 24, 15:47:44
        
        TBF a few years ago this would have been incredible but..... (NCFC) - usacanary, Aug 24, 15:48:40
        
        ✅ good point (n/m) (NCFC) - SimonOTBC, Aug 24, 13:19:10
        
        Exactly (n/m) (NCFC) - Duck, Aug 24, 12:52:42

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