Tekel Towers » Rumour

bowers · 26/8/2015 8:46 am

BennyBoy wrote:
blackandtangerine wrote:
PatReilly wrote:
Shareholders and creditors have to be informed if administrators are called in, have they not?

There are many shareholders of the DU Football Company, including Dundee United Supporters' Society Ltd, who own 2.82% of the company. If they (us by proxy) haven't been informed of any potential administration, then someone is breaking the law.
No one is saying it's imminent. Just the route the club would choose. The fed are also shareholders. Unfortunately the club won't answer financial questions. Should maybe see if we can get enough support for an egm.

Evening, B&T. I don't know the breakdown of the percentages of share ownership at United these days, but I think, don't quote me, I remember it being 15% of shareholders needed legally to force an EGM. As mentioned, ArabTRUST own around 3% as 3rd largest shareholders, do you happen to know what the approximate breakdown is? The Thompson family own about 75%-80%, I think. I'm just curious to know if, hypothetically, there would be enough to get 15% support for an EGM. Anything like that would probably need ArabTRUST's backing to succeed.

Well that is unlikely now that they are being run by a friend of Thompson and others who are willing to wait upto another YEAR on a meeting with club!

No wonder the Trust is now like a revolving door

bowers · 27/8/2015 10:40 am

Have we been bought over yet?

Billy_Hainey · 27/8/2015 11:56 am

bowers wrote:
Have we been bought over yet?

I've been half expecting this to be all over the Scottish press and media.

bowers · 27/8/2015 12:45 pm

Billy_Hainey wrote:
bowers wrote:
Have we been bought over yet?

I've been half expecting this to be all over the Scottish press and media.

Same mate.

Cath thompson full o shite?

PatReilly · 27/8/2015 1:06 pm

bowers wrote:
Billy_Hainey wrote:
bowers wrote:
Have we been bought over yet?

I've been half expecting this to be all over the Scottish press and media.

Same mate.

Cath thompson full o shite?

We shouldn't be saying this of Cath Thompson.

It's a bit more like someone feeding stories, and not necessarily Cath (or any) Thompson, to see how far they go.........

Maybe to find out who can be trusted. Most fans can't be given a bit of club information without telling other folk.

27/8/2015 1:12 pm

so, because this hasn't been confirmed, it's a load of shite?

Not necessarliy saying it's true but these kind of deals can take forever to go through.

27/8/2015 1:27 pm

Well there's been so many rumours going about that one of them's bound to be right......eventually

28/9/2015 9:27 am

More details on this rumour...

ST will be offski ASAP as he has definitely bought into the Newcastle Jets in Oz. He's agreed to sell his share of the club to Bennett and 2 other current directors. They are actively trying to buy out Justine. Mrs Thompson not mentioned, not sure if she still has a shareholding.

Tek · 28/9/2015 10:02 am

I heard weeks ago (by someone on here I may add) that Bennett wanted back in and was just waiting till ST emigrated as they fell out over all the Oz stuff and the player sales and no longer had a working relationship as a consequence.

Also heard Justine fell out with him over similar issues and can't wait till he's off as she doesn't think he is running the club correctly.

I take it Mike Martin will also be departing.

Mass Debates · 28/9/2015 10:15 am

Perfect time for him to slope off if he is going, go now and let then new regime get their manager in and get the club going forward again as we are in reverse as the minute with the foot to the metal!

RogerTheAlien · 28/9/2015 12:10 pm

If ST Is bought out and we get a good manager In, we could turn the corner again.

doontheroadarab · 28/9/2015 12:26 pm

I've got a feeling Justine will take the Chair, maybe "up the wrang dreel" but seems to be getting more openly involved in things these days.

RogerTheAlien · 28/9/2015 12:48 pm

hope not.

Foo Kin Twat · 28/9/2015 1:20 pm

Can anyone tell me, how accurate or otherwise is this?

http://dufc.co/the-club/

Taken from the Club Website just now.

lifesanocean · 28/9/2015 1:29 pm

doontheroadarab wrote:
I've got a feeling Justine will take the Chair, maybe "up the wrang dreel" but seems to be getting more openly involved in things these days.

Taking Justine up the wrang dreel...

Mass Debates · 28/9/2015 2:22 pm

lifesanocean wrote:
doontheroadarab wrote:
I've got a feeling Justine will take the Chair, maybe "up the wrang dreel" but seems to be getting more openly involved in things these days.

Taking Justine up the wrang dreel...

haha lifesanocean might have know you'd pick up on that #filthmister

Foo Kin Twat · 28/9/2015 2:23 pm

BBC saying Psycho is the caretaker!

Unless they are just rehashing what the guys in the bushes at St Andrews were seeing this morning?

28/9/2015 9:01 pm

Foo Kin Twat wrote:
Can anyone tell me, how accurate or otherwise is this?

http://dufc.co/the-club/

Taken from the Club Website just now.

Had a look on companies house and matches the list of officers there.

The AR01 lodged at companies house is a wee bit out of date though but I'm not sure how often that requires to be updated.

Foo Kin Twat · 28/9/2015 9:33 pm

Thanks scarpia. I thought JB had resigned? It's like the feckin Hokey Cokey. In Out In Out......

Next question if I may. Does anyone know approximate percentages of who owns what as regards the Ownership of the Club?

And the boy Colin Stewart. What is the procedure adopted by ArabTrust that he ends up on the Board and what is his remit?

doontheroadarab · 28/9/2015 10:22 pm

lifesanocean wrote:
doontheroadarab wrote:
I've got a feeling Justine will take the Chair, maybe "up the wrang dreel" but seems to be getting more openly involved in things these days.

Taking Justine up the wrang dreel...

When Duty Calls !

28/9/2015 10:23 pm

Foo Kin Twat wrote:
Thanks scarpia. I thought JB had resigned? It's like the feckin Hokey Cokey. In Out In Out......

Next question if I may. Does anyone know approximate percentages of who owns what as regards the Ownership of the Club?

And the boy Colin Stewart. What is the procedure adopted by ArabTrust that he ends up on the Board and what is his remit?

Yeah the John Bennett thing was odd....am sure it was in the press....and then it just didn't seem to happen. He's been on and off the directors list more often than a Corrie wedding.

No idea on the Colin Stewart thing maybe someone who's in ARABtrust can enlighten us?

28/9/2015 10:40 pm

Foo Kin Twat wrote:
Next question if I may. Does anyone know approximate percentages of who owns what as regards the Ownership of the Club?

Sorry, missed this in first reply.

Currently there are 98,303 issued shares.

Stephen Thompson has 51,131 or 52%

Justine Mitchell has 33,262 or 33%

So (if my sums are right) the Thompson family have 85% of the shares.

The full details are available now for free at companies house, link below and search for The Dundee United Football Club Limited

The shareholding details are under filing history (look for the most recent AR01 - it's one of the first things that comes up)

https://beta.companieshouse.gov.uk/

I'm not sure, and no way of knowing, if the shares are actually owned by Justine and Stephen or if the family own them and divide up the use of the shares as it were.

Last edited by scarpia (28/9/2015 10:42 pm)

Foo Kin Twat · 28/9/2015 10:55 pm

Thanks mate.

BennyBoy · 28/9/2015 11:49 pm

Foo Kin Twat wrote:
And the boy Colin Stewart. What is the procedure adopted by ArabTrust that he ends up on the Board and what is his remit?

There's a large amount of boxes that any ArabTRUST associate director has to tick to even be considered. The criterion was revised circa 2011 to include such things as, if I remember correctly, educated to degree level, must've served on ArabTRUST's Board for at least a year, must have this, must have that. There's was a mandatory and desirable list (one desirable was that they should live in or close to Dundee).

The rules on who fits the bill were then voted on and approved at the following ArabTRUST AGM. I felt, and was vociferous about it at the time, that the rules aren't conducive to somebody who would know what it's like to be skint but still wants to get a supporter bus up to Inverness to see United on a cold wet Wednesday night. I don't think your archetypal Arab will never be considered for the position, you know, somebody with an opinion on the price of a pie or ticket cost.

The remit is to represent the ArabTRUST Board's will to the United Board (who in turn have a remit to represent the views and will of their members). The AD is pretty much a liaison, but there's enough ambiguity that the role can be molded to whatever suits on both sides.

Last edited by BennyBoy (28/9/2015 11:51 pm)

BennyBoy · 28/9/2015 11:58 pm

Forgot to mention, the AD serves at the pleasure of the United Chairman. An AD can be voted in by ArabTRUST's membership but be rejected by Stephen Thompson, so it's a situation where really, ST needs to approve of the AT Board's choice of AD candidate before he's even voted in by the membership. Then again, Stephen Thompson doesn't have to have an AT AD in his Boardroom at all if he so chooses. It's a courtasy position.