aggi wrote: ↑Sun Dec 20, 2020 5:01 pm
I don't think this is the case, certainly not formally. For it to be a takeover offer for all shares then all shareholders must be notified which clearly isn't the case here. There are options, where contacting shareholders isn't feasible, to publish the details in the London Gazette but a quick search doesn't show anything there.
ClaretTony wrote: ↑Sun Dec 20, 2020 3:58 pm
Are you certain of that?
1) The media reports speak of ALK Capital offering £200 million to buy the club. They don't say £200 million to buy MG and JB shares only;
2) The recent reports in the media, including Reuters, all appear to be the result of ALK issuing a press release, which prompted the reports;
3) Does anyone think it "makes sense" for ALK to limit the purchase to just MG's and JB's shares?
4) There will come a stage in the process when the Burnley board of directors will report on the offer from ALK to all shareholders, with their recommendation to accept the offer. The process hasn't reached that stage, just yet. I expect ALK being approved by Premier League ODT will be completed before that stage is reached.
5) I'd expect the directors will say something along the lines of: Burnley have received an offer from ALK - the directors consider this offer is "fair" and acceptance of this offer is in the best interest of Burnley football club and all shareholders. It will say MG and JB (and maybe other directors) have already accepted the offer and have transferred their shares to ALK. It will say the directors recommend all (small) shareholders do the same - and arrangements to do so will be as follows XXXXXXXXXX. This is all in accordance with BFC Shareholders Articles and Memorandum of Association and in accordance with Companies Act....
As I have said before, I repeat I have no direct knowledge of the negotiations re the takeover of Burnley FC. I only know what is reported in the media plus Neil Hart's statement as CEO of BFC. I am not a shareholder of Burnley FC.
I wish all Clarets fans and all BFC shareholders the very best wishes of the season. "Happy holidays" as many in America would say.
It's beginning to feel a lot like Christmas.... (though, personally I'm in South West London in Tier 4).
Exciting times.
UTC