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15 hours ago, O'Kelly Isley III said:

In my ignorance I would say this.  The Chairman of the DFC Board is a lawyer by profession and that is to be welcomed.  However, if Brabco decide they are off via a sale of their shareholding (unlikely), or by just putting a padlock on the front door, I don't consider that in the UK of 2019 there aren't ways for a clever legal advocate for Brabco to enable the latter, Companies Act or not. 

From where I'm sitting the DFC Board may hold the moral high ground but Brabco hold most of the meaningful cards, and whilst the Golden Share was designed to protect the club I can't imagine where the money would come from to prove its legal worth.

You might recall that the Steedmans sold Kilbowie while Clydebank were still playing in the league. That money didn't find its way to the accounts of the football club.

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Cool so, any good?
AFAIK, still under contract for another season at Killie, wouldn't have thought they would be freeing players under contract with out a new manager in place yet.

To answer your question, he shite. If you do happen to sign him, your better sparing your embarrassment by sending him back on loan to us for the season [emoji6]
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1 minute ago, albundy said:

AFAIK, still under contract for another season at Killie, wouldn't have thought they would be freeing players under contract with out a new manager in place yet.

To answer your question, he shite. If you do happen to sign him, your better sparing your embarrassment by sending him back on loan to us for the season emoji6.png

It’s John McGlynn in charge now, not Gary F Locke... :lol: 

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Robert Thomson leaves Morton...

https://gmfc.net/2019/05/23/kyle-jacobs-signs-pre-contract-agreement/

Quote

Meanwhile, Robert Thomson has advised the club that he is currently unable to take up the offer to continue in full-time football as he considers his career options outwith the game before making his final decision.

 

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Robert Thomson leaves Morton...

https://gmfc.net/2019/05/23/kyle-jacobs-signs-pre-contract-agreement/

Meanwhile, Robert Thomson has advised the club that he is currently unable to take up the offer to continue in full-time football as he considers his career options outwith the game before making his final decision.

 

 

We were linked with him back in January and are in for a striker, just joining the two together. Although that was denied by Goody! However, if he ended up back with you guys I wouldn’t be disappointed!

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Moving away from the serious stuff, another wee plug for the Rock Comedy Club which kicks off next Friday - https://www.facebook.com/events/520778938327100/

Really good line up at a good price, and it's another way to support the club for the coming season. As with anything, for it to continue on a regular basis it needs people to show up, so if you'd like regular comedy nights on in the town then get yourself a ticket.

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On 5/21/2019 at 22:21, BallochSonsFan said:

Which still doesn't get round the requirements set out in law.

Brabco own a % stake in the club. That stake is big enough to allow them to throw their weight around if they choose to do so.  It doesn't give them direct ownership of any of the club's assets.

If Brabco value their asset at £2.2million and their asset is a 75% stake in the club then that values the club as a whole at around £2.9million. it's a crude way of doing things because the shares in Dumbarton are essentially worthless. The club has no real value as a business because as a going concern it generates minimal to no profit and pays no divided. If the value is purely a book exercise based on the value of the assets owned by the club as a potential return to shareholders then at £2.9million total, and £2.2million Brabco's estimated share, they're placing a pretty big valuation on a former industrial site as a land asset.

It's a book exercise because Brabco can't sell the land. Only the club can. Brabco can influence the board. It can call an EGM and vote out the current board. It can vote in new directors of its own choosing. That still places the new directors in the same position as the current ones regarding fiduciary duty and conflict of interest.

Focus on the things we actually know about - the fundraising needed for infrastructure projects, the need to increase matchday attendance from both season ticket sales and walk up tickets and the need to generate more income. Going on flights of fantasy gets us nowhere when we have genuine and real issues to try to address.

 

The 75% holding is no accident. A 75% shareholding grants virtual carte blanche to a majority shareholder. They could do an awful lot of things off their own bat before you can say fiduciary duty.  Also a company which is worth less as a going concern than its assets is extremely vulnerable. 

Good luck Sons. 

 

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