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Whitehaven Share Scheme

Eddie

By Eddie
in The General Rugby League Forum

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Griff

Griff

Posted
Posted
2 hours ago, Tommygilf said:

I was thinking this, didn't they come out before the season saying they were basically skint and would struggle to make it to the end of the year?

Suppose this is a creative solution to that.

It's not, though, is it ?

There have been loads of share issues over the years.  They rarely raise a boatload of money and, imho, they're on the risky side from a legal point of view.

"We'll sell you a seat .... but you'll only need the edge of it!"

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Eddie

Eddie

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1 hour ago, Griff said:

It's not, though, is it ?

There have been loads of share issues over the years.  They rarely raise a boatload of money and, imho, they're on the risky side from a legal point of view.

In what way is it risky legally? I’m sure Haven have taken the proper advice. 

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Griff

Griff

Posted
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8 minutes ago, Eddie said:

In what way is it risky legally? I’m sure Haven have taken the proper advice. 

It looks very much like a public share issue to me.  Is there a prospectus ?

"We'll sell you a seat .... but you'll only need the edge of it!"

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gingerjon

gingerjon

Posted
Posted
4 minutes ago, Griff said:

It looks very much like a public share issue to me.  Is there a prospectus ?

There's an email address from which it says further information will be sent to enquirers.

So the curious have a way to an answer.

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Build a man a fire, and he'll be warm for a day. Set a man on fire, and he'll be warm for the rest of his life. (Terry Pratchett)

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langpark

langpark

Posted
Posted (edited)

This is a great initiative, well done Whitehaven!

Some of you really need do need to get a grip/life. They are not claiming to be the next bitcoin, nor are they implying that with £100 you will become the club's majority shareholder. Obviously, this is aimed at Whitehaven fans, so of course it will not appeal to everyone. 

Edited by langpark
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gingerjon

gingerjon

Posted
Posted
3 minutes ago, langpark said:

This is a great initiative, well done Whitehaven!

Some of you really need do need to get a grip/life. They are not claiming to be the next bitcoin, nor are they implying that with £100 you will become the club's majority shareholder. Obviously, this is aimed at Whitehaven fans, so of course it will not appeal to everyone. 

Variations on this model are cropping up all over the place: https://lewesfc.com/become-an-owner/

Didn't Edinburgh (I think it was them) basically do a cut and paste from the above last season?

Build a man a fire, and he'll be warm for a day. Set a man on fire, and he'll be warm for the rest of his life. (Terry Pratchett)

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Griff

Griff

Posted
Posted
35 minutes ago, langpark said:

This is a great initiative, well done Whitehaven! 

Seriously, it's like no club has ever thought of issuing shares before.

"We'll sell you a seat .... but you'll only need the edge of it!"

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JonM

JonM

Posted
Posted

Section 755 of the companies act says:

A private company limited by shares or limited by guarantee and having a share capital must not—

(a)offer to the public any securities of the company

Crowdfunding type things often can exempt themselves from the section by use of the following bit:

an offer is not regarded as an offer to the public if it can properly be regarded, in all the circumstances, as: not being calculated to result, directly or indirectly, in securities of the company becoming available to persons other than those receiving the offer

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Blind side johnny

Blind side johnny

Posted
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If I am not mistaken any shareholder of a limited company is entitled to see or receive a copy of the full accounts, as distinct from the abbreviated ones that are usually lodged with Companies House, or whatever it is called nowadays. I can think of a number of clubs whose fans would love to get hold of a copy of those.

Sport, amongst other things, is a dream-world offering escape from harsh reality and the disturbing prospect of change.

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Ivarr the Boneless

Ivarr the Boneless

Posted
Posted
2 hours ago, gingerjon said:

Variations on this model are cropping up all over the place: https://lewesfc.com/become-an-owner/

Didn't Edinburgh (I think it was them) basically do a cut and paste from the above last season?

I believe Lewes are Community Interest Company. A totally different set of laws apply to their share offers.

I own one share in Prescot Cables AFC CiC, I supported them at university and renew the share annually. It's a very different model to a privately held company.

I repeat I wish Whitehaven well with this.

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Eddie

Eddie

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17 minutes ago, Ivarr the Boneless said:

I believe Lewes are Community Interest Company. A totally different set of laws apply to their share offers.

I own one share in Prescot Cables AFC CiC, I supported them at university and renew the share annually. It's a very different model to a privately held company.

I repeat I wish Whitehaven well with this.

Just being nosey here, but what Uni were you at to support Prescot Cables (presumably) as the local non league club? 

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Griff

Griff

Posted
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1 hour ago, langpark said:

"Great initiative" is what I said. Not that they invented the concept of shares. 

Keep those positive vibes coming! 

See s755 of the Companies Act 2006 quoted above.

"We'll sell you a seat .... but you'll only need the edge of it!"

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Eddie

Eddie

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9 minutes ago, Ivarr the Boneless said:

Liverpool. I started watching RL at Highfield / Prescot Panthers. Growing up in the Midlands I had only seen the sport on Grandstand before moving to Liverpool.

Mate, why did you go all the way there for a non-league football fix when you had the majesty of Holly Park on your doorstep? 

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Eddie

Eddie

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Just now, Ivarr the Boneless said:

Used to watch them on Tuesdays as Prescot had no lights. Souths folded at the end of my first season.

Best goal I've ever seen live was by South's Dave Massett. The local TV crew were there as South's had announced they were probably folding. Sadly they packed up minutes earlier.

Anyway back to Whitehaven...

I know completely off topic but South are back, they’ve come all the way from the depths of the West Cheshire League third division to North West Counties league. A thriving well supported club, albeit miles from the previous heights before they were forced to fold. 

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headtackle

headtackle

Posted
Posted
On 21/03/2023 at 22:28, Griff said:

£100 for a piece of paper to hang on your wall.  You could print your own for a few pence.  There are better ways to support your club.

Mate - as long as you support your club it doesn’t really matter how you do it

 

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