Jon
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Post by Jon on Jan 21, 2018 23:49:39 GMT
Buried away on the club website, you can find information on club ownership.
You have to click club, contact us and there it is at the bottom of a list of email addresses.
Company Details
91% of Torquay United is held by Riviera Stadium Limited
9% others
But surely Plainmoor Limited only ever owned 74.7%.
My good friend Tim Herbert was able to find out for me what has happened:
RSL purchased additional shares in TUAFC, including the shareholding formerly held by Torquay United Holdings Limited. Full details will be provided to Shareholders at the forthcoming 2018 AGM.
You can have lots of fun googling what extra privileges a 75% and a 90% stake confer.
Without wishing to appear too paranoid, it is absolutely essential that the freehold does not ever pass to the ownership of the Football Club.
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Jon
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Post by Jon on Jan 22, 2018 23:39:34 GMT
A litle more on the background to this and a little history recap.
Before Roberts, the shares were:
The Batesons 85.7%
Rest of the World 14.3%
When the 2007 consortium took over, the shares were:
Plainmoor Limited 51.0%
TU Holdings Limited 34.7%
Rest of the World 14.3%
After a rights issue and TU Holdings going bust, the shares were:
Plainmoor Limited 74.7%
The Crown 17.3%
Rest of the World 8.0%
The Plainmoor Limited share transferred to Riviera Stadium Limited on 19/12/16.
On 29/6/17, Ian Hayman transferred 0.3% to Riviera Stadium Limited. Thanks to Barty for spotting this.
This transfer tipped RSL over the magic 75%.
I have long hoped that Ian Hayman is the honest broker in all this and hope that he would only act in what he believed to be the club's best interests. He has certainly contributed a huge amount of cash and hard work to the cause over many many years.
I do not rule out that he could have been hoodwinked though.
I remember asking him about GI early on and he was quite confident that Geoff Harrop had nothing to do with it and that Clarke Osborne was not after the freehold.
Finally, it appears that RSL has got hold of The Crown's share.
That would leave the current share at :
Riviera Stadium Limited 92.3%
Rest of the World 7.7%
I have asked Tim Herbert to double check whether the 91-9 split on the website should be altered to 92-8.
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rjdgull
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Post by rjdgull on Jan 23, 2018 21:25:52 GMT
200% articlePity the Herald do not write something on these lines....
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chelstongull
TFF member
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Favourite Player: Jason Fowler
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Post by chelstongull on Jan 23, 2018 21:49:19 GMT
After Chesters draw tonight we are now 7 points + behind them.
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Post by stig123 on Jan 23, 2018 22:15:12 GMT
Purely academic I'm afraid chelstongull. ..we are already on the gallows with a hood over our head and a noose around our neck.
PS Welcome back!
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Jon
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Post by Jon on Jan 23, 2018 23:27:53 GMT
200% articlePity the Herald do not write something on these lines.... Some glaring errors in there: Ownership of the club eventually moved to a new consortium made up of ten local business people in June 2015WRONG. The last set of published accounts for The Torquay United Association Football Club Ltd (for the year to the end of June 2016) showed the club to be just over £2.1m in debtWRONG. |
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Jon
Admin
Posts: 6,912
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Post by Jon on Jan 23, 2018 23:31:28 GMT
After Chesters draw tonight we are now 7 points + behind them. How far off the play-offs? |
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chelstongull
TFF member
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Favourite Player: Jason Fowler
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Post by chelstongull on Jan 24, 2018 8:07:24 GMT
Purely academic I'm afraid chelstongull. ..we are already on the gallows with a hood over our head and a noose around our neck. PS Welcome back! Cheers  I can see 3 of the clubs making a good fist of avoiding relegation, with us 15 points + adrift at least or failing by GD on the last day!! |
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