Shambles engagement forum

[SBRed48]

As usual the claims that the new Board have put another £3.2 million into the club neglects to point out it is not a straightforward transfer of cash from their own wealth, it is another share equity purchase to cover losses of £1 million a month at the club.

The Hong Kong Registry shows a sale on23 June 2022 by Barnsley Investment Company (the club) of 4 million shares at 25p each. The allocation was taken up by ALL existing shareholders in proportion to their existing share %. ie Lee bought 31.25% of the shares at a cost of £310,000 and Conway/ Hung 7.5% at a cost of £75,000. Its an odd situation that those who some claim are no longer part of the club are willing to pay such amounts. It is, of course, because they will receive more money as they push up the share price if anyone tries to buy them out.
Presumably the new £3.2 million equity injection to cover £1 million a month losses is on the same basis. The shares bought can be sold. It is not a gift to the club. It is being put in to protect their existing investments by preventing the club falling into administration caused by losing £1 million a month.

I did say Nudge would come out of the meeting saying everything was wonderful. Job done by Parekh and others.

Were any other questions raised ?