Aberdeen Shareholders

[deaconred]

Exactly. The pant pishers will read today’s news and think we are £2m short but in reality, the extra dough is there and waiting and this is simply a paper exercise to prevent Cormack ( I assume) from having to make an offer for the other 70% of shares.

Going from public limited company to a private limited company is a bit more than a paper exercise.

I'm no sure about all the name-calling - happy clappers, pant pishers etc - but the point you make about the extra (extra?) dough being there and waiting does, in fact, merely confirm that it is NOT there and immediately available. It also raises the question about how we can pay for the new stadium.

I've just checked. My pants are not yet pished - but at my age one has to be continually vigilant. Neither are my hands clapping happily.

[donsdaft]

With any luck, the funds will never be there for a new stadium

[deaconred]

Far better off being a private limited company.

Unless of course you want to buy and sell your shares at will.

I am not a shareholder and don't pay the slightest attention to AFC share price but I strongly suspect that the vast majority of small shareholders own their shares for sentimental reasons and wouldn't consider selling them.
The bigger shareholders will wheel and deal amongst themselves either way.

Actually, I'm surprised AFC ever took the risk of being a Public Limited Company, far better off out of it.

I'd agree. They did it to raise money that was not spend wisely.

Selling AFC shares is not easy as, I think, you have to find a matched bargain (?) - the number of shares being bought and sold are so small that - despite being a plc - you can't just dive on to the stock exchange to buy them. I think there is a nominated broker who will try to match a sellers or buyers.

[Red Zone]

There are many things to criticise Milne in particular for and the Board in general for but this is not one of them. The payments for any major construction project are phased over the life of the project with it typically being back end loaded. So there was no reason to collect all the shareholder investment up front and indeed all they said at the last meeting was that funding was secured not that it had actually been paid. As others have said I would imagine this £2M will be from Cormack, Crotty it one of their associates as the rules can look at groups of shareholders when considering if it is over 30% as was the case of King and his cronies recently. This really is a non issue and arguably is a positive as we are better being a private company anyway.

As I said plenty to aim at Milne but this isn’t the right target

[awafaehame]

I am not an expert in these things, far from it.
One thing that does upset me though, and raise my suspicions even further against the current board, is that less than just a couple of weeks ago, we got the great big speech about how we want to keep everything more transparent and to get more in touch with fans.

IF, and thats a very large IF, this wasn't the usual BS that we get fed from the club, why wasn't this mentioned at the Q&A, that we actually didn't have all the money in place?

[deaconred]

With any luck, the funds will never be there for a new stadium

We can but hope.

[Pacman1903]

The money was all in place. Now I seems its not.

We don't really need to know more than that. There have been porkies told

[afc1903mad]

The money was all in place. Now I seems its not.

We don't really need to know more than that. There have been porkies told

It’s been explained earlier

[redscot]

It’s been explained earlier

Go on, you explain it...

[Red Zone]

The money was all in place. Now I seems its not.

We don't really need to know more than that. There have been porkies told

There have been plenty porkies told and truths stretched or simply omitted over this whole stadium saga but honestly guys this is not one of them. The funding commitment was there, the bills are not yet due to be paid and the resolution to move from being a public to private company only requires 75% shareholder approval, which can easily be achieved via the Milne/Cormack/Donald shareholdings.