Fisher & Waggot Deceive Seppala (3 Viewers)

Senior Vick from Alicante · Feb 12, 2014

The Defendant secures investment capital. It uses that capital to invest in distressed businesses in return for an equity stake. Its plan is to turn around the failing business and then to realise the equity stake at a profit.
The investment funds have a lifespan of 8 years, which can be extended to 10 years.

The above statement from Jack Griffins post is quite interesting. OSB do you think this will have any bearing on what the life expectancy of Sisu's ownership could be and have you had any indication of this in your investigations?

shmmeee · Feb 12, 2014

shmmeee said:
4%

http://companycheck.co.uk/company/0...-LEISURE-LIMITED/group-structure#shareholders

Thinking about it, weren't the Trust trying to contact him to see if he would sell? What happened with that?

oldskyblue58 · Feb 12, 2014

No indications of term at all Vick. That may well be their normal mode of operation but not sure this is a very normal case for anyone including SISU. Usually I would guess they come up against organisations that are not quite so willing to fight back (or simply do not have the means to)........... not the case here. They will go one way or another when they are convinced they have gained everything they can ..... that might be all, something or nothing as it stands

oldskyblue58 · Feb 12, 2014

shmmeee said:
Thinking about it, weren't the Trust trying to contact him to see if he would sell? What happened with that?

Wouldn't work because the transaction would have to be approved by the remaining shareholders and I really cant see that 96% approving Trust ownership even if only 4%

lordsummerisle · Feb 12, 2014

skybluetony176 said:
especially if they make it out of wicker, which i'm sure would be the popular choice for fans.

Gets my vote!

John_Silletts_Nose · Feb 12, 2014

oldskyblue58 said:
No indications of term at all Vick. That may well be their normal mode of operation but not sure this is a very normal case for anyone including SISU. Usually I would guess they come up against organisations that are not quite so willing to fight back (or simply do not have the means to)........... not the case here. They will go one way or another when they are convinced they have gained everything they can ..... that might be all, something or nothing as it stands

I think they have underestimated that a football team is so integral to a local identity and can cause emotional reactions which generate public outrage and impede the normal workings of a business so requiring full public relations similar to a political campaign. This is not their normal modus operandi.

shmmeee · Feb 12, 2014

oldskyblue58 said:
Wouldn't work because the transaction would have to be approved by the remaining shareholders and I really cant see that 96% approving Trust ownership even if only 4%

I never knew that. So how do hostile takeovers happen then? Is that because no-one has 51% of the shares?

oldskyblue58 · Feb 12, 2014

shmmeee said:
I never knew that. So how do hostile takeovers happen then? Is that because no-one has 51% of the shares?

usually it is the Board of directors saying no to a bid ...... they do not welcome it or recommend to shareholders..... that's the bit that makes it hostile. The bidder then goes around buying shares off people to get to tipping points in the process. But that's with Public companies............ not the same for a private company, where usually the directors are the shareholders or act as agents for a small number of shareholders.

Usually the rules of a private limited company will include a clause that says incoming shareholders will be approved by the existing ones

chiefdave · Feb 12, 2014

edgy said:
and hasn't been seen on Twitter since!

This has always struck me as odd. He was constantly on there and was touted by the club as a big name in the tech world yet since leaving here there's been no trace of him online!

CJ_covblaze · Feb 12, 2014

We enquired several times to Mr Brody regarding purchasing his shares. Not even an acknowledgment back. I'd take the mutiny idea with a pinch of salt. IIRC Fisher has 12 million reasons to keep Joy sweet.

John_Silletts_Nose · Feb 12, 2014

CJ_covblaze said:
We enquired several times to Mr Brody regarding purchasing his shares. Not even an acknowledgment back. I'd take the mutiny idea with a pinch of salt. IIRC Fisher has 12 million reasons to keep Joy sweet.

Are you saying that Fisher has invested that amount or he stands to gain a bonus of that value based on certain goals being realised?

shmmeee · Feb 12, 2014

oldskyblue58 said:
usually it is the Board of directors saying no to a bid ...... they do not welcome it or recommend to shareholders..... that's the bit that makes it hostile. The bidder then goes around buying shares off people to get to tipping points in the process. But that's with Public companies............ not the same for a private company, where usually the directors are the shareholders or act as agents for a small number of shareholders.

Usually the rules of a private limited company will include a clause that says incoming shareholders will be approved by the existing ones

Cheers. Whoever thought I'd learn so much about business administration and finance through football?

Jack Griffin · Feb 12, 2014

Senior Vick from Alicante said:
The Defendant secures investment capital. It uses that capital to invest in distressed businesses in return for an equity stake. Its plan is to turn around the failing business and then to realise the equity stake at a profit.
The investment funds have a lifespan of 8 years, which can be extended to 10 years.

The above statement from Jack Griffins post is quite interesting. OSB do you think this will have any bearing on what the life expectancy of Sisu's ownership could be and have you had any indication of this in your investigations?

Thinking about it, maybe the start of the SCONSET intervention reset the clock, so 8-10 years from Sept 2010.

Jack Griffin · Feb 12, 2014

John_Silletts_Nose said:
I think they have underestimated that a football team is so integral to a local identity and can cause emotional reactions which generate public outrage and impede the normal workings of a business so requiring full public relations similar to a political campaign. This is not their normal modus operandi.

I think not, they're not so stupid & so ill informed. Bad strategists, well maybe!

John_Silletts_Nose · Feb 12, 2014

Jack Griffin said:
I think not, they're not so stupid & so ill informed. Bad strategists, well maybe!

I certainly do not think, and did not state, that they were stupid or ill informed, that is mis-interpreting my words, quite the opposite, I think these people are very smart and clever.
I said that I think they under-estimated the impacts of their actions in implementing their strategy.

James Smith · Feb 13, 2014

Just watching the Cayman Islands Premier squirm as he is getting a grilling from Stephen Saccur(?) on Hardtalk on the BBC. He was just asked if beneficial owners of companies and trusts would be identified and made available to scrutiny. He dodged saying yes in a way that would make Mr Labovitch proud. There is around $1.5trillion in assets in the Cayman Islands apparently.

Fisher & Waggot Deceive Seppala (3 Viewers)

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