Put your feet up and get a cup of Tea

[BCram]

Thanks to you mentioning my name I searched for my password to let me post on this forum.
We used to have family holidays at Machrihanish and my first game of golf on Machrihanish Golf Course was in July 1970 when I won 1st prize in a Junior Handicap open competition.
Prior to moving to Islay my wife and I considered moving to live in either Campbeltown or Machrihanish.
Returning to our neighbours You are correct that the assets are merely security for the loans. I cannot remember if interest is paid on these loans but United are currently paying 6% interest on the loan secured on Tannadice Park with a further 4% interest being paid if the loan is not repaid under the terms of the deal.
That might account for the fact that it was reported on another forum that United had repaid the agreed annual repayment and then asked for a further loan.
Throughout the past twelve years despite their lofty position in the Premier League up to the end of the 2014-15 season United have been a selling club as they have continually made an operating loss. However they now have no players to sell to balance the books.

Glad to see you make the effort. The way this Forum works the latest posts are always at the top. I think it gives OT threads a chance to be seen by everyone who looks at the site and it can be entertaining in a way that is distinct from TDB (Pravda as Rross christened it).

The United situation is interesting. Since Marshall bought MMJ's sisters shareholding which I think was 33% does that mean that when added to the 53% owned by MMJ, he will have to make an similar offer for the minority shareholdings? Not sure who the smaller shareholders are - can you enlighten me?

There might a similar situation for DFC if the losses that have been made by FPS are turned into shares. That would bring the FPS shareholding up over 75% and perhaps trigger the same sort of situation for DFCSS and the other individuals who still hold shares in DFC.

[islaydarkblue]

Glad to see you make the effort. The way this Forum works the latest posts are always at the top. I think it gives OT threads a chance to be seen by everyone who looks at the site and it can be entertaining in a way that is distinct from TDB (Pravda as Rross christened it).

The United situation is interesting. Since Marshall bought MMJ's sisters shareholding which I think was 33% does that mean that when added to the 53% owned by MMJ, he will have to make an similar offer for the minority shareholdings? Not sure who the smaller shareholders are - can you enlighten me?

There might a similar situation for DFC if the losses that have been made by FPS are turned into shares. That would bring the FPS shareholding up over 75% and perhaps trigger the same sort of situation for DFCSS and the other individuals who still hold shares in DFC.

Hi BCram,
You have hit the nail on the head.
James Michael Martin owned 200 shares in the Dundee United Football Company Limited prior to purchasing Justine Mitchell’s 33% shareholding. As far as I am aware James Michael Martin is now in the same situation as Dave King of Rangers as they have both breached the 29.9% shareholding limit and James Michael Martin should have be compelled by the Takeover Panel to offer to purchase the remaining shares held all the other shareholders including MMJ’s 52% shareholding.
I do not think that the Takeover Panel are aware of the situation at Tannadice.
The smaller shareholders are all listed on the Companies House website with the latest list having been recently published. I will show you where to find the list under a separate post.
I know a couple of people who used to work beside me and they hold the princely total of two shares.
When James Michael Martin purchased Justine Mitchell’s shareholding he publically stated that he had nothing to do with MMJ. He was reminded that he was a director along with MMJ in a business previously called Thomar PLC which changed its name last year to FC United.
This company has a share capital of 40p. Last of the big spenders!
Things are somewhat different with FPS. When bought into Dundee Football Club Limited they did so by purchasing unissued shares whilst MMJ appeared to be reluctant to sell the unissued shares in Dundee United Football Company Limited to raise funds as he would have lost his controlling interest.
FPS have stated that when their shareholding reaches 75% they will transfer their shares to Dark Blue Holdings. What happens to the remaining 25% minority shareholders including DFCSS is something that FPS will have to explain. I do not know the answer.

[islaydarkblue]

I enclose the list of shareholders in The Dundee United Football Company Limited. https://beta.companieshouse.gov.uk/c...filing-history
Click on 21st May 2018 Confirmation Statement and the name of every shareholder and the number of shares they hold is listed.

[BCram]

I enclose the list of shareholders in The Dundee United Football Company Limited. https://beta.companieshouse.gov.uk/c...filing-history
Click on 21st May 2018 Confirmation Statement and the name of every shareholder and the number of shares they hold is listed.

Thanks Islay. Some good old names there that I recognise. We will just have to wait and see what happens in DFC. They will be disappointed that their aArbroath game went so poorly. Bobby Linn got the equaliser- I think. Will be a magic moment for him.

[Returnofrros]

thanks islay. Some good old names there that i recognise. We will just have to wait and see what happens in dfc. They will be disappointed that their aarbroath game went so poorly. Bobby linn got the equaliser- i think. Will be a magic moment for him.

gdsdd

[islaydarkblue]

[QUOTE=Returnofrros;38944384]

Golf, whisky and now cake.

Does it get any better.

Decent chippy?

Looking forward to it.

Played Doon at the belfry 3 years ago the brabazon and the pga.

Brabazon still meh fav.

Play in a lot of Texas opens round Scotland and there really are some cracking courses.

Forres, Cruden Bay and and the one at lossiemouth (name escapes me) are 3 I particularly like.

Sadly I cannot give the name of a decent chippy as I am allergic to white fish and I have never had a fish supper in my life.
However it is likely that included in your golf at Machrihanish golf course is temporary membership of Machrihanish Golf Club.This will allow you to have meals in the clubhouse and drinks at cheaper prices.
Next to your cottage is the Old Clubhouse Pub which is licensed and does meals. http://machrihanishdunes.com/dine/th...clubhouse-pub/
This clubhouse used to be the Ladies clubhouse in the good old days when women had they own clubhouse!
If you feel like treating yourselves I suggest booking a meal at the Ardshiel Hotel in Campbeltown and then sampling the different malt whiskies in their lounge bar. You could get the local bus from Machrihanish to Campbeltown and hire a taxi to take you back to Machrihanish.
I used to have golfing holidays up North and the best courses I played on were Golspie, Broara, Royal Dornoch, Inverness GC and Elgin GC.
I also enjoyed playing at Boat of Garten GC which is known as the ‘Rosemount of the North’.
You have certainly played on some excellent golf courses throughout the UK.
What is a Texas Open.

[jdfc]

Noticed that out off 98000 shares, that director Jim Fyffe has a total of 5, how does that work

[Returnofrros]

[QUOTE=islaydarkblue;38945601]

Sadly I cannot give the name of a decent chippy as I am allergic to white fish and I have never had a fish supper in my life.
However it is likely that included in your golf at Machrihanish golf course is temporary membership of Machrihanish Golf Club.This will allow you to have meals in the clubhouse and drinks at cheaper prices.
Next to your cottage is the Old Clubhouse Pub which is licensed and does meals. http://machrihanishdunes.com/dine/th...clubhouse-pub/
This clubhouse used to be the Ladies clubhouse in the good old days when women had they own clubhouse!
If you feel like treating yourselves I suggest booking a meal at the Ardshiel Hotel in Campbeltown and then sampling the different malt whiskies in their lounge bar. You could get the local bus from Machrihanish to Campbeltown and hire a taxi to take you back to Machrihanish.
I used to have golfing holidays up North and the best courses I played on were Golspie, Broara, Royal Dornoch, Inverness GC and Elgin GC.
I also enjoyed playing at Boat of Garten GC which is known as the ‘Rosemount of the North’.
You have certainly played on some excellent golf courses throughout the UK.
What is a Texas Open.

Meant Texas scramble...I'm always getting my golfing terminology muddled up.

Sure you know what a Texas scramble is.

Just in case you don't.

4 man team ( usually) all tee off, choose best tee shot, all play 2nd from there, repeat with 3rd 4th etc till holes finished.

10% of totally handicap....so say 4 10 handicappers in team total hcap 40 10% of that is 4 so 4 shots come off total at the end.

Most places have each team member to have at least 3 of their drives chosen, some 4 and some 4 and at least 1 must be a par 3.

The Strathmore events are particularly well organised and they have seniors events from age 50 rather than 55.

Strangely Islay I've never had a fish supper either but thought I'd try one when out west😉

[islaydarkblue]

[QUOTE=Returnofrros;38945757]

Meant Texas scramble...I'm always getting my golfing terminology muddled up.

Sure you know what a Texas scramble is.

Just in case you don't.

4 man team ( usually) all tee off, choose best tee shot, all play 2nd from there, repeat with 3rd 4th etc till holes finished.

10% of totally handicap....so say 4 10 handicappers in team total hcap 40 10% of that is 4 so 4 shots come off total at the end.

Most places have each team member to have at least 3 of their drives chosen, some 4 and some 4 and at least 1 must be a par 3.

The Strathmore events are particularly well organised and they have seniors events from age 50 rather than 55.

Strangely Islay I've never had a fish supper either but thought I'd try one when out west��

Thanks for the information.
Yes. I know what a Texas scramble is and I have played in them when I was a member at Downfield GC.
Surprisingly Islay GC had lots of Stableford competitions which rarely happen nowadays in other golf clubs. They even had a bogey competition and the most difficult part of the competition was trying to work whether you had beaten Col Bogey or not.

[islaydarkblue]

Noticed that out off 98000 shares, that director Jim Fyffe has a total of 5, how does that work

That is nothing new. He could be a director with only one share. If someone comes along and offers to put substantial funds into a Football Club they are likely to demand a seat on the board of directors to ensure that their funds are not being squandered. Some companies insist that each director must hold a minimum number of shares but this is normally in a Public Limited Company (PLC).
The Dundee United Football Company Limited is a private limited company and the only way that Jim Fyffe could increase his shareholding is to;
1. Purchase shares from an existing shareholder
2. The Directors of The Dundee United Football Company Limited to sell him some of the unissued shares. However that was never likely to happen as MMJ might lose his controlling interest if too many unissued shares were sold and MMJ’s percentage shareholding of the number of shares issued fell below 50%.