Donial, you have mail.

Aideen, it's being edited. I put out a chaser on Discord last night. It should be available today.

Thanks guys, I’m trying to find out if the meeting is online anywhere? Stu, it’s probably to sell more to ppl who already invested to take them over the currently permitted threshold.

Stuart i think it was said that we have 23.6% available under 50%+1 so if someone wanted 25% they would need to buy 1.4% from existing shareholders

Selling a lot of shares at a big discount, as per JG's suggestion is definitely a good way of raising capital, but would result in the DT losing control of the club, given that the DT has no cash to take up its shares (eg if you assume that the DT owns all of the "3 vote" shares then if we issued another 200m of the one vote shares to new investors the DT voting stake would be diluted to ~25%). I personally don't mind that, as I think that the day of fan ownership is past at our level, but it's not an easy solution. In reality, if you did this, neither most of the small shareholders nor the DT would take up their rights shares, so in effect this would be a route for takeover by a small number of wealthy fans, who would then still have to stand behind our losses (even if those might be reduced if we increased our capacity) or see their investment wiped out.

Aideen - the move to 25% would be voted on as it’s a RA. My only question is I don’t believe we can sell 25% as it would move us under 50.1

Selling more shares for whatever price without the purchaser getting control is akin to a donation as they will get nothing in return and cannot easily sell the shares at a later date. The shares I own in the PLC are effectively worthless. The PLC registrar has said as much to me in writing in the past when I enquired for tax purposes. We do not get told how much a stand costs to operate and how much additional revenue would be required to cover this, let alone generate surplus income to erode the trading losses. Then there is the disruption to stadium capacity during construction, should we even afford to build another stand which I doubt given how much the west stand cost, when we need as much income now as possible just to stay afloat. I can't see a rights issue raising very much and it still would not deal sufficiently with trading losses.

Is part of **

Aideen - unless I misunderstood - any potential investors - after all negotiations etc will be put to the membership to have the final vote - and lifting the 15% threshold is sort of the 50.01 vote

Aideen my understanding is that is going to be voted on as part of the 50%+1 vote in March.

No one else worried that we’ve now upped the limit if how much someone can own to 25% with no consulting with ‘owners” Sneaky that.

Yes,thank mother nature for global warming (climate change)

OTD was first game since 15th December nearly 2 months winters were harsher in those days

TL;DR

As an aside JG, a club financial representataive at the time of Nick Robinson's investment insisted to me that a 3 vote share was worth exactly the same as a 1 vote share. Probably a necessary fiction at the time to avoid having to award the Seedrs investors even more shares. I don't know if they still cling to that theory.

It is hard to forecast the success of a rights issue by personal situation. JG would subscribe heavily, i.e. it would succeed, I'd decline, i.e. it would fail. In reality it probably depends on what the Return on Investment is, particularly when trying to raise as much as 20 million. EFL clubs don't pay dividends so the ROI is someone being willing to buy the shares at more than 10p in the future. Seems unlikely to me unless we sell out but your mileage may differ.

I keep reading that there are no alternatives to finding someone with more money than sense to bail the Club out and commit to funding ongoing losses for eternity. There are. There are currently a total of 34,217,285 shares in issue, of which 23,741,186 carry 2 additional votes for each share. As at 30/06/25 net assets stood at £18,643,788. Let’s assume that a year on, as at 30/06/26, net assets will have fallen to £16,400,000 (i.e. seems a reasonable assumption albeit less than the previous year). If we assume that value is proportional to voting rights (a relatively standard assumption) then we arrive at a Net Asset Value per share of 20p. If the Club initiated a 200,000,000 Share Rights Issue at a 50% discount i.e. 10p per share this would raise up to £20,000,000. Under these terms I’d subscribe for £2,000,000 worth i.e. an additional 20,000,000 shares. On such a basis I reiterate - I’m pretty confident that the Club would raise all or most of this £20,000,000. With £20,000,000 of capital, they could develop an additional stand – taking the stadium capacity beyond 11,000 (thereby increasing matchday revenue), and repay the maturing bond debt (thereby reducing interest costs). The Club would still be in the hands of fans (in fact more so) and we’d have the capital to reach breakeven. This should be Plan A!!!!

eight more wins a few draws should see us in the Play Offs.

On this day was my first ever match, 9th birthday treat with my Dad (birthday was 3rd)

RK, what do +5 and +3 refer to?

Hopefully we can get 4 points from the next 4 league games, which should set us up for the easier fixtures in march.

So how many points do we need to stay in Lge1? Donny are presently 20th on +3, with about 60% of season gone. Maybe +5 which is 51?

Ah yes ,im a Bad Bunny.

Spit, We have 38pts and a goal difference worth another.

A successful original plan A wouldn't lead to distrust and rumours.