It is effectively a RI
but as NCFC isn't a listed company they can do what they want within certain regulatory boundaries, particularly as this is a friendly transaction. In diluting their shareholders value by issuing just enough new shares to allow MA to become the majority shareholder (and we don't know yet if he'll also convert his C Preference Shares to Ordinary) all other shareholders %ages reduce. No, other shareholders were not offered additional shares at an agreed ratio as in normal RIs but the principle is the same.
Posted By: Old Splat on February 13th 2023 at 10:53:15
Message Thread
- Potentially seismic day for our football club 💛💚 (n/m) (NCFC) - loz, Feb 13, 07:26:07
- Oh mine.... (NCFC) - usacanary, Feb 13, 13:43:08
- Tried saying that last night (NCFC) - Old Splat, Feb 13, 09:57:12
- It’s not a rights issue (n/m) (NCFC) - SimonOTBC, Feb 13, 10:33:38
- It is effectively a RI (NCFC) - Old Splat, Feb 13, 10:53:15
- I don’t think this is a conversion event, but haven’t read the terms in ages (NCFC) - SimonOTBC, Feb 13, 11:00:41
- It is effectively a RI (NCFC) - Old Splat, Feb 13, 10:53:15
- Does the takeover code apply … (NCFC) - loz, Feb 13, 10:16:25
- It’s not a rights issue (n/m) (NCFC) - SimonOTBC, Feb 13, 10:33:38
- could be MMAMOTH (n/m) (NCFC) - Bristol Graham, Feb 13, 09:23:01
- Is that bigger than MSSAIVE? (n/m) (NCFC) - Old Git, Feb 13, 09:38:35
- It's at least COLLOSALL (n/m) (NCFC) - Under soil heating, Feb 13, 11:25:40
- Is that bigger than MSSAIVE? (n/m) (NCFC) - Old Git, Feb 13, 09:38:35
- Breaking news - it won’t be (NCFC) - inutero, Feb 13, 08:35:34
- Yeah - his focus will be similar to Delia and Michael’s I think (NCFC) - SimonOTBC, Feb 13, 10:37:03
- Tbf he’s got the brewers punching well above their weight … (NCFC) - loz, Feb 13, 08:42:49
- though folk need to be realistic about where 'punching above our weight' gets us (NCFC) - CWC, Feb 13, 09:47:54
- Jen from Yellows last day? (n/m) (NCFC) - LincolnshireCanary, Feb 13, 08:20:47
- Ahh Jen, the void so hollow that you shall leave. (NCFC) - Jumbo1, Feb 13, 08:54:59
- I think it could be (NCFC) - Old Git, Feb 13, 07:55:05
- Yep (NCFC) - Cardiff Canary, Feb 13, 07:28:45
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