This is what it said before: Charlton Athletic Football Company Ltd is owned by Baton 2010 Ltd, which is owned by CAFC Holdings Limited (90 per cent) and Richard Murray (10 per cent). CAFC Holdings Limited is in turn owned by Tony Jimenez (28 per cent) and Michael Slater (23 per cent) plus minority shareholders with less than 10 per cent. This is what is says now: Charlton Athletic Football Company Limited Charlton Athletic Football Company Ltd is owned by Baton 2010 Ltd, which is owned by CAFC Holdings Limited (90 per cent) and Richard Murray (10 per cent). CAFC Holdings Limited is in turn owned by Tony Jimenez (47.6 per cent) and Michael Slater (20.7 per cent) plus minority shareholders with less than 10 per cent. I am just interested what people on here think of this change.Could it possibly be that our backer has pulled out?
It could just be that Jiminez correctly spotted the ball and, with many minority shareholders keen to sell-up because they can't afford sunday joints or an au pair, he fancied treating himself. Since we have never known anything about any potential backers then it is foolhardy to make assumptions.
Still no clearer as to what's going on - good or bad. He could be in the midst of acquiring more shares to sell to another consortium/backer. He could be increasing steak in hope it will make for an easier sell (no buyer lined up yet). It could mean someone has walked away (not necessarily the ''main'' backer, or it could be). But with the doom and gloom of 2 weeks ago, to a change this week (which followed a couple of signings) suggest some money has come in to hand. Now, just so I know whether to boo or cheer - is TJ good or bad today?
Previously CAFC holdings was owned by seven people, TJ on 28%, MS on 23% and five 'minor shareholders' on 9.8% each, as TJ's share has gone up by exactly 19.6% it's clear that two of the minors have upped sticks and sold/handed their shares over to him, we already know about one (Alex Newall) so I wonder who the other is, interestingly MS has reduced his holding by exactly 10%, where has that money gone, is there a new very minority shareholder with 2.3%, possibly a relative of Slater's, that would be my guess, either way TJ & MS (or whoever is behind them) now own the majority of the club for the first time, so clearly the ducks are in a row and some sort of announcement must be on the cards soon.
Of course its a possibility, I don't think anyone on here has at all doubted the 'possibility that out backer has pulled out', we have simply argued that formulating theories, spreading speculation and forming a Supporters Trust to tackle the board on an issue which came about as a result of one single ambiguous post by a member of a lone message board, is not exactly rational behaviour. Now, whilst the change to the directors holdings is indeed interesting, it is at most a sufficient reason for discussion.
Signings + an increase in steak for TJ suggests he has either found people to put money in or KC was never the backer (on team Slater/Newall) and it was always TJ and his merry men. But by putting more money in they want more shares and get rid of some of the ''dead wood'' on the board? (We put X amount in which is greater than yours, so we deserve more?). I'm rubbish with the finance side of business so just swinging wildly with a bat here. The developments brings credit and also discredits many of the rumours. All this will do is bring on a new bunch of rumours. I'm still positive as am yet to hear from my people that there is trouble pending. I'd be surprised if anyone actually knows as when there is a change like this there will usually be confidentiality agreement, surely?
Unusually sane and literate post from you, nutnut. Not a single mention of "giraffe saddlers", "flannel toasters", or "Balkan Marmite". Have we caught a glimpse of the real nutnut, thoughtful, literate and a wiz at maths? If so I love you even more, not that I am gay or anything.
Ehh?? Michael Slater had 23% yesterday and he has 23% today.... can't see how his shareholding has changed?
What can we make of changes....well... Prior to changes we possibly did have 5 shareholders who held 9.8% shareholdings in the Company and now we have 3 with the other two shareholders selling to Mr Jiminez. Is Mr Newall one of those missing shareholders? Possibly? or perhaps he did not want his name appearing in the Company's Accounts... a Private Company only has to name a shareholder in its Accounts if that shareholder is also a Director of the Company. Perhaps it is a husband and wife who have left as shareholders? It is common (for tax reasons) for shares to be split between a husband and wife. If we have lost the supplier of cash for the Club then why did they only own 19.6% of the shares? You would have thought that the person supplying the many millions of pounds that are required to fund a football club would want more than 19.6% of the equity wouldn't you?
Has the issued capital of cafc holdings changed? If so the change in percentages mean something completely different. lets not carried away with yet more speculation. We may not be as well off as we thought we were but shares changing hands is something that happens on a regular basis where shares are traded on the stock market. There are also several material break points which trigger different shareholder rights such at 10% (Richard Murray's holding in the club itself), 25%,50% and 75%. That TJ has moved from 28% to 47.6% would only matter if the CAFC Holdings were listed, it is not. The other shareholders in that company control more than 52% if they acted in concert. There are also rules about disclosing certain family interest. As yet I just see a change in shareholding with one major holder increasing his overall percentage. That one or possibly even two backers /shareholders who may have owned less than 20% of the holding company and thereby 17.64% of the club have sold doesn't mean a crisis.
Take if from me Super, KC was involved and is not any longer. TJ is trying to get someone in who has some finances. If he does not succeed then I believe he will have to sell up. I am not sure of why the two (KC/TJ) are no longer partners, there are numerous rumours, but none that I can be certain of being true.
Sat here today we have to rely on the going concern statement included in the group accounts of Baton 2010 limited for the year to 30th June 2011 which was that" the new board of directors has reviewed the future cash flow projections of the group and in their opinion, subject to the ongoing support of the group's bankers and CAFC Holdings Limited, the group is able to continue its normal day to day operations for at least twelve months from the date of the approval of these accounts." The date of approval of the accounts was 25th February 2012. There has been no sign of the banks withdrawing support or of CAFC Holdings Limited, merely a change in the ownership of that company. Companies registered inthe British Virgin Islands are not required to file certain information but some do. To find this out you normally have to pay a search agent on the islands a fee of US$165, something I am not wishing to do when there is no factual or evidential sign of any trouble at the mill. If someone could come up with hard evidence of "trouble at mill" thenI am certain that information (if filed) could be found. However, we do not know who owns the 29.4% of shares or who provides any debt funding to CAFC Holdings Limited, merely confirmation on the web site that Mr Slater and Mr Jiminez control 70.6% of that comapny which in turn controls 90% of Baton 2010 Limited which is where the consoldiated accounts of the club are shown. Does this worry me? no more than it did when 90% of Baton 2010 was bought by CAFC Holdings Limited in December 2010. If, knowing the loan repayment schedule in place at the time the accounts were signed the directors beleived that they could meet these loan repayments from income expected to be received by whatt was then still a league one club , then I am currently relaxed. If anyone has any hard information to change this position please let me know.
I have just recieved the following message from my dear pal Fati Mbogo. Looks like I shall soon be buying ot Tony Jiminez. Dearest One. Thanks for the opportunity to be your friend,I know this mail will come to you as a surprise since we have not meet or had a previous correspondence, please bear with me. I will really like to have a good relationship with you. I have a special reason why I decided to contact you. I decided to contact you because of the urgency of my situation here ,I am Ms Fati Mbogo Edwards 25 years old girl from Liberia the only daughter of Late Dr ,Mbogo Edwards the deputy minister of national security under the leadership of president Charles Taylor who is now in exile after many innocent soul were killed ,My father was killed by government of Charles Taylor ,he accuse my father of coup attempt. I am constrained to contact you because of the maltreatment I, am receiving from my step mother. She planned to take away all my late father's treasury and properties from me since the unexpected death of my beloved Father. Meanwhile I wanted to escape to the Europe but she hide away my international passport and other valuable travelling documents. Luckily she did not discover where I kept my father’s File which contains important documents. I decided to run to the refegee camp where I am presently seeking asylum under the United Nations High Commission for the Refegee here in ougadugou,Republic of Burkinafaso.I wish to contact you personally for a long term business relationship and investment assistance in your Country. My father of blessed memory deposited the sum of US$6,500, 000.00 in Bank with my name as the next of kin. However, I shall forward you with the necessay documents on confirmation of your acceptance to assist me for the transfer and investment of the fund in your country,As you will help me in an invsetment, and i will like to complete my studies, as i was in my fist year in the university, when the crisis started. It is my intention to compensate you with 20% of the total money for your services and the balance shall be my investment capital. This is the reason why I decided to contact you. Please all communications should be through this email address only for confidential purposes. As soon as I receive your positive response showing your interest I will put things into action immediately. In the light of the above, I shall appreciate an urgent message indicating your ability and willingness to handle this transaction sincerely. iam staying at the female hostel. Awaiting your urgent and positive response. Please do keep this only to your self please i beg you not to disclose it till i come over , once the fund has been transfered, Yours Fati
Kish Priceless - but only 20% can be yours. You need to bring her along to the Valley so she can invest as well! On second thoughts she should meet some people at the Beehive
