Monday, 14 August 2006
How much will our shares be worth?
Is it me or are there others slightly concerned by today's announcement that Charlton plan to withdrawal from the Alternative Investment Market (AIM)?
"We will remain a public company with nearly 4,000 shareholders, and there will still be a mechanism for shareholders to offer their shares for sale and, if we obtain the necessary EGM approval on September 6th, I will be writing to shareholders to explain the trading mechanism in more detail."
I will be interested to see it. Whilst Murray states "that this decision will not result in any change in the current ownership of our club," it does clearly state that it's their intention to delist and maybe eventually go private, which a number of other clubs have done in recent years after entering the stockmarket became trendy in the 90's.
Once the club delists then there is no true market way in which you can value the club, so how would the shares be valued and what does a trading mechanism allow? More importantly if this were announced after the EGM on September how would we know how to trade shares before we can vote?
Fans outside of the board are said to make up about 17% of the ownership and with 4,000 of us the whole thing is rather moot. However I own rather more shares than a sane person should do so I for one would be keen to learn how much they are going to be worth if they cannot be sold on the open market. ¶ 15:32
"We will remain a public company with nearly 4,000 shareholders, and there will still be a mechanism for shareholders to offer their shares for sale and, if we obtain the necessary EGM approval on September 6th, I will be writing to shareholders to explain the trading mechanism in more detail."
I will be interested to see it. Whilst Murray states "that this decision will not result in any change in the current ownership of our club," it does clearly state that it's their intention to delist and maybe eventually go private, which a number of other clubs have done in recent years after entering the stockmarket became trendy in the 90's.
Once the club delists then there is no true market way in which you can value the club, so how would the shares be valued and what does a trading mechanism allow? More importantly if this were announced after the EGM on September how would we know how to trade shares before we can vote?
Fans outside of the board are said to make up about 17% of the ownership and with 4,000 of us the whole thing is rather moot. However I own rather more shares than a sane person should do so I for one would be keen to learn how much they are going to be worth if they cannot be sold on the open market. ¶ 15:32
