Oustanding shares from Shinawatra takeover

Prestwich_Blue

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Just been contacted by a mate who didn't take advantage of the 40p a share offer in 2007, when Thaksin Shinawatra took over the club. He's been contacted out of the blue by a company that's tracking down the people who didn't take the money at the time and offering to buy their shares. They're offering the 40p but with commission of 15% (so effectively 34p a share). It seems legitimate, as the UKSV Ltd company that Thaksin used to carry out the takeover is in liquidation but I guess there are still funds availabe that were set aside in 2007 for the deal.

Said I'd see if anyone else in that position that has (or hasn't) had this offer?
 

halfmist

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Just been contacted by a mate who didn't take advantage of the 40p a share offer in 2007, when Thaksin Shinawatra took over the club. He's been contacted out of the blue by a company that's tracking down the people who didn't take the money at the time and offering to buy their shares. They're offering the 40p but with commission of 15% (so effectively 34p a share). It seems legitimate, as the UKSV Ltd company that Thaksin used to carry out the takeover is in liquidation but I guess there are still funds availabe that were set aside in 2007 for the deal.

Said I'd see if anyone else in that position that has (or hasn't) had this offer?
Your mate will not own the shares anymore. Once Mansour got 90% agreement from the existing shareholders Company Law allows him to buy the other 10% on a compulsory purchase scheme.
In other words your mate would have been forced to sell his shares to him. It gets rid of any pests who rely on minority shareholders protection rights to cause a stir within a Company.
He will get what the offer was at the time and not what they are worth now.
I suppose if he has kept the offer letters issued at the time he will know how much he will receive. If it’s only a few quid may not be worth perusing.
If the Company set up to handle the purchase is now in liquidation there may be no funds left in the pot to pay out so late in the day.
 

1stFeb1969

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I got a letter the other day about it. There's one share involved in my case, and my instinct was to ignore it due to the amount concerned.
The cut off date is the 8th of July.
 

Prestwich_Blue

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Your mate will not own the shares anymore. Once Mansour got 90% agreement from the existing shareholders Company Law allows him to buy the other 10% on a compulsory purchase scheme.
In other words your mate would have been forced to sell his shares to him. It gets rid of any pests who rely on minority shareholders protection rights to cause a stir within a Company.
He will get what the offer was at the time and not what they are worth now.
I suppose if he has kept the offer letters issued at the time he will know how much he will receive. If it’s only a few quid may not be worth perusing.
He's been offered the full price (40 pence per share) paid at the time, less the firm's commission of 15%. He had a couple of hundred shares so daft not take it. It'll nearly pay for a tank of petrol!
 

halfmist

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I got a letter the other day about it. There's one share involved in my case, and my instinct was to ignore it due to the amount concerned.
The cut off date is the 8th of July.
As long as the letters not from Nigeria and asking for your bank details and passwords what do you have to lose. Or....
Why not see if they can part exchange it for the top 5 matches on a Silver Season Card.
 

jrb

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Just been contacted by a mate who didn't take advantage of the 40p a share offer in 2007, when Thaksin Shinawatra took over the club. He's been contacted out of the blue by a company that's tracking down the people who didn't take the money at the time and offering to buy their shares. They're offering the 40p but with commission of 15% (so effectively 34p a share). It seems legitimate, as the UKSV Ltd company that Thaksin used to carry out the takeover is in liquidation but I guess there are still funds availabe that were set aside in 2007 for the deal.

Said I'd see if anyone else in that position that has (or hasn't) had this offer?

I got a letter from the Link Group stating I still own City shares. :-)

I’ve still got the original share certificate, which I’ve kept. ;-)

I‘ve asked to meet Sheikh Mansour, so he can buy my remaining shares in person. I’m sure he’s got a spare £15 on him.
 
Last edited:

bluekeith

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I didn't accept the offer year's ago but they sent me the money anyway. I still have my certificate somewhere which they told me to send back.
 

ooh vonky vonky

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Seems a bit odd to me. What would be point of buying up any remaining shares now? They are surely worthless??

As far as I was aware, once ‚Franks‘ lot had acquired enough shares the rest where subject to a compulsory purchase. Meaning if you didn’t take the cash on offer … then you were left with a worthless certificate/souvenir.

I sold mine at the time and the cancelled certificates were returned to me a while later.
 

jrb

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Seems a bit odd to me. What would be point of buying up any remaining shares now? They are surely worthless??

As far as I was aware, once ‚Franks‘ lot had acquired enough shares the rest where subject to a compulsory purchase. Meaning if you didn’t take the cash on offer … then you were left with a worthless certificate/souvenir.

I sold mine at the time and the cancelled certificates were returned to me a while later.

I’ve been offered £14.80 for my remaining shares.

Yeah, I remember that. Sell now or your shares will be worth nothing. I ignored it.
 

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