The GTFC Shares Debate

By: Rob Sedgwick
Date: 04/08/2000

The GTFC Shares Debate

David Peasgood this week finds Bert and Fred are considering the GTFC shares rights issue.
Hear their views and YOU decide in our latest 'fishy' poll.

The GTFC Shares Debate

BERT:
I think it's a real shame if the board can't raise more cash for the club from a shares rights issue.

FRED:
Yeah well it needs 75% of the shareholders to support the proposal and the old board with all their shares are the difference between 51% and 75% of the votes.

BERT:
And the old board wont support it?

FRED:
Looks that way. It's hypocritical really that when they say they have the interests of the club at heart, that they are deliberately ignoring a chance to help out.

BERT:
They won't see it that way. They'll see it as a way for the new board to strengthen their position and buy more shares.

FRED:
So the old board can buy shares too.

BERT:
Can they? When 2 directors left last year and put their shares up for sale, the old board could have bought them and stayed in power, but the new board bought them instead

FRED:
Maybe there were personalities involved there though. Then again are you suggesting the old board haven't the money?

BERT:
I'm not suggesting anything, just postulating that throughout the old boards reign we saw very little investment in anything at the club. They seemed all talk and no cash to me.

FRED:
You could be right. Then again the old board could be of the view that the new board are going to self-destruct and destroy the club, and they are waiting in the wings like guardian angels to step in when required.

BERT:
I'll admit that the new board haven't bought new star players and we haven't done much good on the pitch since they arrived, but then again they inherited a near bankrupt club and to keep it afloat has taken a lot of shrewd and generous dealing behind the scenes that the supporters don't get to know about. Now they are looking ahead and this share issue was one possibility.

FRED:
Well is there anything that the supporters can do about it?

BERT:
I don't honestly know. You express your view I guess and take it from there.

FRED:
Well we'll see what happens. There's still time for the old board to change their minds.

BERT:
Hey look! Is that a flying pig up there?

FRED:
No. It's a seagull.

Now for the vote...

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