Liverpool FC Forum

by **ivor_the_injun** » Tue Jan 23, 2007 12:20 pm

I don't think it's Moores' call. We're a publicly owned company, so I'm guessing the company law mentioned in the reports is related to that.

Probably along the lines that it's in the shareholders' best interests to allow every potential bidder the chance to check out the books and state their case.

by **crouchaldinho** » Tue Jan 23, 2007 12:28 pm

ivor_the_injun wrote:We're a publicly owned company

Are you sure? i didnt think we were - i know the scum were a plc. which is why the Glaziers were able to make an 'aggressive takeover' (or whatever they called it), but i thought we're still privately owned.

A mate of mine enquired about buying a couple of shares in LFC a few years ago (in the hope he could get a season ticket quicker), he was told at the time if he wanted to proceed to buy them, he would have to be recommended by another shareholder first, then it would go on the agenda at a monthly board meeting or summat like that where they'd make a decision.

by **SouthCoastShankly** » Tue Jan 23, 2007 12:34 pm

We're not a publically owned company we're privately owned - we do not trade our stock publically.

And it is Moores call at the end of the day because he owns 51% of the share holdings and maintains control over the club. If he chooses to sell his majority to another shareholder, i.e. DIC, they would become the new controlling party of Liverpool FC.

by **crouchaldinho** » Tue Jan 23, 2007 12:35 pm

thats what i thought

by **crouchaldinho** » Tue Jan 23, 2007 12:36 pm

crouchaldinho wrote:Just trying to get my head round this - so does Moores HAVE to grant Gillette a period of due dilligence because his offer is higher than DIC's, in other words, if his offer was below that of DIC, could Moores just have told Gillette to eff off?? And if so, say DIC were to up their offer to higher than that of Gillette, could it then be signed over without Gillette being involved?

(confused!!)

can you shed any light on this for me southcoast?

by **SouthCoastShankly** » Tue Jan 23, 2007 12:42 pm

crouchaldinho wrote:
crouchaldinho wrote:Just trying to get my head round this - so does Moores HAVE to grant Gillette a period of due dilligence because his offer is higher than DIC's, in other words, if his offer was below that of DIC, could Moores just have told Gillette to eff off?? And if so, say DIC were to up their offer to higher than that of Gillette, could it then be signed over without Gillette being involved?

(confused!!)

can you shed any light on this for me southcoast?

All due diligence means is a process through which a potential acquirer evaluates a target company for acquisition. The period of due diligence is a legal obligation because any potential investor has the right to evaluate, or investigate, the financial stability of the investment he is about to make. It allows him to make a decision as to whether to continue with the offer.

In any case Moores can refuse or accept any offer he gets because at the end of the day the shares are his property and his choice who to sell to.

by **crouchaldinho** » Tue Jan 23, 2007 12:50 pm

so the fact that this offer from Gillette could delay the DIC takeover from happening must mean that Moores is considering it then?

by **Igor Zidane** » Tue Jan 23, 2007 1:01 pm

The delay would be because we have to grant due dillegence to Gillette.
That is the law, it won't be because moores is considering it i think.

by **stmichael** » Tue Jan 23, 2007 1:03 pm

I think a lot of people get mixed up between a quoted PLC and an unquoted PLC.

A quoted PLC is a company with shares traded on a regulated stock exchange (AIM, FTSE, NASDAQ, CAC40). An unquoted one is where shares are traded privately.

LFC is an unquoted PLC.

by **crouchaldinho** » Tue Jan 23, 2007 1:07 pm

what i cant get my head round is if Moores has the power to turn down ANY offer made, why does he have to let someone see the books if he doesnt want them to?

by **112-1077774096** » Tue Jan 23, 2007 2:58 pm

he doesnt have to let gillet see the books if he says he wont sell to him, but the fact is he cant say that unless he is 100% certain that DIC will buy us,

imagine telling gillet to funk off and then DIC pull out, we are then in the sh1t, he has to play the game. what the law says is that we have given DIC one month for due dilligence, then any other potential buyers must be given the same length of time providing we agree to deal with them, at the moment we have to agree as DIC have not signed yet

stop worrying, if DIC want to buy us then the deal can be done without any interference from gillet

by **112-1077774096** » Tue Jan 23, 2007 3:00 pm

he doesnt have to let gillet see the books if he says he wont sell to him, but the fact is he cant say that unless he is 100% certain that DIC will buy us,

imagine telling gillet to funk off and then DIC pull out, we are then in the sh1t, he has to play the game. what the law says is that we have given DIC one month for due dilligence, then any other potential buyers must be given the same length of time providing we agree to deal with them, at the moment we have to agree as DIC have not signed yet

stop worrying, if DIC want to buy us then the deal can be done without any interference from gillet

by **Anfield rapper** » Tue Jan 23, 2007 3:28 pm

Hopefully then this will show DIC that other people are interested and are willing to pay more money than them and they will come in and make the deal in the next few days. The longer it goes on the more i doubt it will happen though. Its like when your trying to sell a car and someone say's, yeah i want it but i'll get back to you. Now Moores can get back to them and say, well someone else is coming round to have a look at it now so you better make your mind up pronto.

by **crouchaldinho** » Wed Jan 24, 2007 3:07 pm

fair shout, reckon i get the gist of it now. cheers guys

by **RUSHIE#9** » Wed Jan 24, 2007 3:14 pm

I still think it's wrong that the whole deal will have to be put on Ice whilst Gillett looks through the books. I know it's only fair that he should be allowed to see the clubs finances if he's serious about trying to take over but if DIC decide to push on with the take over in the near future they can't 'cos of this prize dingbat!
You don't say when someone is trying to buy yer car yeah I want to sell it to you but you'll have to wait til some other geezer's been to look at it.
It should be up to the late comer to decide quicker if he is wanting to put an offer on the table.

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