However, what I cant make any sense of is if the members still have the 26% we were told they do.... let me explain:
When GH "bought" the club a new company was setup: Dagenham and Redbridge FC 2017 Ltd. This company according to latest info in the programme eventually had a shareholding of:
So 100% total.... all good so far... (putting aside that apparently some of GH's shares were given to DB and ST for free to achieve this breakdown)
As a result 3 entries were made to companies house of notification of "person with significant control" which lists any person (or entity) that owns shares between 26%>50% (or 51%>74%). GH, DB and Members (via original Dagenham and Redbridge Ltd company).
Once the "sale" to the Americans went through.... TWO notification were sent to companies house:
- Cessation of GH "significant control" (i.e. sold enough to be below 25% or sold all)
- Notification that Americans have 51%<>74%.
Now, even assuming the basics.... that Americans own only 51%, DB 27% and Members 26%..... you don't have to be good a maths to see this is >100% - which is not possible.
So either DB's shares are sold/diluted and the club hasn't filed the paperwork yet (yet they filed all the others??) - or the share dealing is all a bit suspect.... have the members been [ahem] over? Also no mention of ST's shares.... basically if the Americans own 51 min and members 26 min then that leaves at most 23% between ST and DB. Yet no filing to say DB has ceased being a "control" shareholder? All very odd.
The club should come forward and explain the true shareholding, not hide behind layers of a company owning >50% of a company where an additional >25% is also owned by another company...