Another Emergency Share Issue: New BFC Ownership Percentages

[SBRed48]

Thank you to BBS Exile for information,

Another Emergency Share Issue has just been published on the Hong Kong Registry, providing £2.4 million for club running costs. Lee, Conway and Hung have chalked fqk on any more investment and so their share percentage has been reduced. The shares have been bought by Parekh, JAQ (via her husband Matthew Edmond's Hedge Fund Jamakepe), and the Crynes. Several million shares were traded at a price of 4p, down from 8p.

The resultant ownership structure is now--
A Shares

Parekh 47.97%
Jamakepe Hedge Fund (JAQ) 9.2%
Chein Lee 11.45%
PMG (Conway/ Hung) 4.87%

B Shares

Crynes 26.51%

Parekh almost has now sole control. It wouldn't be surprising if part of Ahmad's "Big News" is that Lee's and Conway/ Hung's shares are bought out by Parekh to give him control, which he has already anyway with Jamakepe's and Cryne's support.

[GRASS SOD]

I can't understand all this emergency shar salesfor club running costs when they've got all the millions in transfer sales
e

[EastStandRed]

Thanks for this SB, who’d own a football club hey ? Pouring money into a bottomless pit.

It’ll all end in tears

[SBRed48]

I can't understand all this emergency shar salesfor club running costs when they've got all the millions in transfer sales
e

Just one fact Sods may help explain---

The yearly running costs at Oakwell are £13 million. The present yearly income is £7 million with no cash reserves in the bank.
Money from transfers goes to cover some of this shortfall of £6 million.

[Shadrack the Red]

I can't understand all this emergency shar salesfor club running costs when they've got all the millions in transfer sales
e

They may have done deals for several million pounds but no way will all that money be sat in our coffers , the deals are structured to be paid over a period of time whilst the day to day running of the club & the wages of both the players & staff etc have to be paid on the dot means that finances can be stretched & need to be bolstered .

[SBRed48]

They may have done deals for several million pounds but no way will all that money be sat in our coffers , the deals are structured to be paid over a period of time whilst the day to day running of the club & the wages of both the players & staff etc have to be paid on the dot means that finances can be stretched & need to be bolstered .

Correct Shads.

(There have been examples of cash-desperate clubs using creative accounting to "bank" all the notional transfer money due to them in order to spend it all in the present financial year and then "owe" the club the payments due in subsequent years but that is just kicking the can down the road loading the club with debts in future years. I'm sure Neerav wouldn't dream of doing this.)

[Barnsley Chop]

Correct Shads.

(There have been examples of cash-desperate clubs using creative accounting to "bank" all the notional transfer money due to them in order to spend it all in the present financial year and then "owe" the club the payments due in subsequent years but that is just kicking the can down the road loading the club with debts in future years. I'm sure Neerav wouldn't dream of doing this.)

'I'm sure Neerav wouldn't dream of doing this.)[/QUOTE]'

Are you suggesting Conman Conway did / would

[SBRed48]

'I'm sure Neerav wouldn't dream of doing this.)

'

Are you suggesting Conman Conway did / would [/QUOTE]

Like most fans I have no idea of what financial manouevres have happened under the Conway regime. Any suggestion of dubious activities would be pure speculation.

I know the EFL Investigation into the club is mainly about failure to properly report who was in control at Oakwell in recent years but possibly some financial issues could be identified at the same time by the investigation.

[Dingle council]

Surely we’re ok now with the debt after mads n kitching being sold must have got 8 mil there
Most of our new additions have been obtained on free transfers
I’m not as savvy as some re: club’s finances but the heat is off now isn’t it surely?
It gets more encouraging when you see Lee n Conways share depleting