Reluctant Ex Shareholder Bought Off By Pozzos

Discussion in 'The Hornets' Nest - Watford Chat' started by hornetmaster, Apr 7, 2024.

  1. hornetmaster

    hornetmaster Reservist

    When the current owners made a compulsory acquisition of shares, I refused to sell, hoping that I could at least protect my right to question the owners at shareholder meetings/votes etc.

    Today I received notification from Link Group that if I failed to return my share certificate after 31st May the value would be transferred to the Court, and could take many months to refund.

    The confirmed value is: £0.50 which is subject to deduction of an administration fee of 15% plus vat.
    Currently I am sitting on a massive loss of value, and am wondering if I should hold on for a good Champions League run to help mitigate the situation?

    PS Where the hell has my `brick gone`?
  2. wfc4ever

    wfc4ever Administrator Staff Member

    Think quite a few got that letter !
    Thailandtimmy and Dreadnought like this.
  3. Dreadnought

    Dreadnought MMC 2010/11 Prediction league 3rd 2011/12

    Yes, I am one, not replying as no idea where the certificate is and not worth the hassle for the amount of money I would get back.
    hornetmaster likes this.
  4. Diamond

    Diamond First Team

    Misplaced my share. Saves me burning it.
  5. lowerrous

    lowerrous First Team

    Might there be a reason why they're exercising a compulsory purchase at this particular moment in time?
  6. I Blame Pozzo

    I Blame Pozzo First Team

    Yes me too.
    No idea where the certificate is, although I thought I caught Pozzo lurking by the biscuit jar the other day.
  7. SkylaRose

    SkylaRose Administrator Staff Member

    Yours is probably attached to one of the many thousands of emails you have sent him over the past few years. He's probably satisfied with the amount and will pay you back £0.99 to cover the cost of the time it has taken you press "SEND" each time. :)

    As for mine, he and I have a little arrangement, I get my 0.000000001% share back when he buggers off. But I'm not holding out any hope.
    hornetmaster likes this.
  8. Irishorn

    Irishorn Gael Force

    I still have my certificate, but did not get a letter. Does this mean I own the club? That would trouble me greatly, as I have **** all money to bolster the squad. #irishornout
  9. I Blame Pozzo

    I Blame Pozzo First Team

    Beggar off you parasite!
    Oh sorry.
    Insulting for a friend.
    Irishorn likes this.
  10. I Blame Pozzo

    I Blame Pozzo First Team

    I gave up after six.
    Point taken though.
    I still can't fathom how a seemingly rational man went stark raving mad!
    Mind you I said the same thing at Hobblesdon Tennis Club.
    Perhaps it's me?
    SkylaRose likes this.
  11. harrow

    harrow Academy Graduate

    Exactly what I’m wondering…. Potentially an equity clear up ahead of a pozzo exit
    lowerrous and AndrewH63 like this.
  12. lowerrous

    lowerrous First Team

  13. Otter

    Otter Gambling industry insider

    Brexit at work there.
    Irishorn likes this.
  14. The undeniable truth

    The undeniable truth First Team Captain

    Or a significant investment - either would be welcome.
  15. Since63

    Since63 Squad Player

    Maybe any recent putative investors have indicated that they view the plethora of minority shareholders as making real negotiations too difficult? The clean up could be a reaction to that rather than a realistic impending development.
    But we can always hope that noise in the distance is our saviour in shining armour rather than the Knights that go Neep.
  16. Ilkley

    Ilkley Formerly known as An Ilkley Orn Baht 'at

    I know I sound like a Python pedant, but I presume you mean "Ni!" w...s&iai=
    I Blame Pozzo, Since63 and Keighley like this.
  17. Since63

    Since63 Squad Player

    I Blame Pozzo likes this.
  18. Ilkley

    Ilkley Formerly known as An Ilkley Orn Baht 'at

    Yes, sounds like the autospell program is in tatties.

    (Argghh - now I sound like @The undeniable truth)
    Keighley likes this.
  19. cyaninternetdog

    cyaninternetdog Forum Hippie

    Interesting post, why now??? Hopefully like others have alluded to Bozzo and co are off. I imagine any news will come after the final ball of the season has been kicked, no fans in the ground to voice their concerns if we need to have any, but, its Bozzo so its more likely we should be concerned. When do they have to notfiy the FA and /or Companies House and is that information publicly available when they do?
  20. tonycotonstache

    tonycotonstache Squad Player

    If they ever remove my brick I'm going to riot.....
  21. The undeniable truth

    The undeniable truth First Team Captain

    There are worse things in life. Not many though.
  22. UEA_Hornet

    UEA_Hornet First Team Captain

    Not sure that stacks up. Pozzo arguably had a harder time buying the club given it was still a PLC then and there were various big shareholders to buy out as well as all the tiny stakes owned by fans as retail investors. But now it's a private company and Pozzo (through Hornets Investment Ltd) owns 99.7% of the shares. I can't really see how having to deal with the 0.3% would present any real barrier or concern for potential investors looking to buy a stake or even his whole shareholding. The fact they're now going through this exercise 10 years on is odd.

    Maybe it's something @AFWO could ask the club?
    Last edited: Apr 8, 2024
  23. UEA_Hornet

    UEA_Hornet First Team Captain

    In fact, what is Link Group? When I saw them mentioned on an X post about this last week (can't find the post now but it had a screenshot of the letter) I just assumed they were some penny share trading company chasing a pay off for dealing in tiny shareholdings.
  24. Since63

    Since63 Squad Player

    Fair comment...very odd to be going around 'tidying up' such a small %, but who knows.
    UEA_Hornet likes this.
  25. The undeniable truth

    The undeniable truth First Team Captain

    Whilst it wouldn't respresent an issue, I can see a new investor insisting that the share ownership register was "tidied up" prior to investing/buying. An up to date share register is absolutely one of the first pieces of information an investor would request. Could just be a case of "spring cleaning", could be a new investment is being negotiating. Time will tell.
  26. Ilkley

    Ilkley Formerly known as An Ilkley Orn Baht 'at

    There are a LOT of worse things in life: living amongst Weeds fans comes to mind (in the football-related joke category).
  27. AndrewH63

    AndrewH63 Reservist

    Admin costs, have you seen how much postage stamps are going up?
    I Blame Pozzo and UEA_Hornet like this.
  28. Bigbadbear

    Bigbadbear Academy Graduate

    Here we go again Gino tries to do his best and tidies things up and everyone moans and looks for an ulterior motive. Give Gineo a break and if he was going how long before the fanbase has a go at any new owner. Be careful what you wish for there are a lot worse owners out there.
    Whats going on with your brick I saw someone was doing something with a photo gallery.
  29. UEA_Hornet

    UEA_Hornet First Team Captain

    G I N E O, G I N E O, G I N E O and Gineo was his name-o.
  30. UEA_Hornet

    UEA_Hornet First Team Captain

    It's not something I know a lot about but how does one go about tidying up in this situation? Is this just a convoluted 'are you still there?' type letter then, with an option to relinquish your shares if you no longer wish to hold them? Why the mention of court?
  31. The undeniable truth

    The undeniable truth First Team Captain

    SkylaRose likes this.
  32. SkylaRose

    SkylaRose Administrator Staff Member

    We have a proposed doppelganger in our midst!!! This "Gineo must be the real owner! We must work to flush this "Gino" out at once!
  33. SkylaRose

    SkylaRose Administrator Staff Member

    Brilliant. That made me chuckle. :D
  34. The undeniable truth

    The undeniable truth First Team Captain

    I don't know when the shares were issued and the details of any subsequent compulsory repurchase rights. However IF the owners have the right to buy back a host of tiny share ownerships they may have not bothered due to the admin effort up to now. However its the sort of loose end that would irritate a buyer. Presumably every holder of one share is still entitled to receive notice of meetings etc etc plus a buyer would want one share purchase agreement with one (or very few) sellers. So logically the seller would be tasked with buying out or getting releases from minority shareholders to consolidate/clarify the ownership structure prior to completing any sale.. No idea why they would threaten the courts other than 1/It's the Pozzos and 2/They anticipate a few SHs refusing/delaying/ignoring etc etc.
    Last edited: Apr 8, 2024
    UEA_Hornet likes this.
  35. Happy bunny

    Happy bunny Cheered up a bit

    At least you don't have to pay Capital Gains Tax
    miked2006, hornetmaster and Keighley like this.

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