General The new owners of OUFC and their plans and actions

[MarkG]

@MarkG

@MarkG

I reckon it’s just a tidying up to bring up Mem and Arts up to date with current EFL rules.

So the club can’t transfer a shareholding to just anyone.

 

[Colin B]

I reckon it’s just a tidying up to bring up Mem and Arts up to date with current EFL rules.

So the club can’t transfer a shareholding to just anyone.

That's exactly what it is Mark. Quite a few clubs have issued amendments to their Articles of Association recently at the behest of the EFL, who seem to have been quite pro-active for a change.

Nothing to worry about @n1

 

[MarkG]

That's exactly what it is Mark. Quite a few clubs have issued amendments to their Articles of Association recently at the behest of the EFL, who seem to have been quite pro-active for a change.

Nothing to worry about @n1

In our case though, it is the shares in the parent company Oxford Investment Holdings PTE LTD that have been transferred / issued to effect the change of ownership.

Even when OIH first took over from Ensco (Eales), it was by the club issuing new shares to OIH giving them a 90% holding, rather than transferring shares from Ensco to OIH. Although Ensco did eventually transfer its remaining shares.

So does this change actually achieve what the EFL want? What is to stop OIH's shareholders transferring shares between themselves? Or is there some sort of EFL golden share that the club has to play in the EFL, and the EFL could refuse to let us participate in the league if we didn't pass the Owners' and Directors' Test?

 

[Colin B]

In our case though, it is the shares in the parent company Oxford Investment Holdings PTE LTD that have been transferred / issued to effect the change of ownership.

Even when OIH first took over from Ensco (Eales), it was by the club issuing new shares to OIH giving them a 90% holding, rather than transferring shares from Ensco to OIH. Although Ensco did eventually transfer its remaining shares.

So does this change actually achieve what the EFL want? What is to stop OIH's shareholders transferring shares between themselves? Or is there some sort of EFL golden share that the club has to play in the EFL, and the EFL could refuse to let us participate in the league if we didn't pass the Owners' and Directors' Test?

It's the EFL Mark, so don't expect it to be perfect!

It wouldn't stop OIH transferring shares amongst themselves, as they're registered in Singapore, but I suspect that if they sold out to a third party, that person(s) would then have to pass the fit and proper tests in the normal way.

I think it's a move in the right direction by the EFL, but it's a very low start position that they're coming from.

 

[MarkG]

It's the EFL Mark, so don't expect it to be perfect!

It wouldn't stop OIH transferring shares amongst themselves, as they're registered in Singapore, but I suspect that if they sold out to a third party, that person(s) would then have to pass the fit and proper tests in the normal way.

I think it's a move in the right direction by the EFL, but it's a very low start position that they're coming from.

Yes, the EFL regulations do go a lot deeper into Owners and Directors and notifications, and that OIH can't simply sell to a new shareholder without EFL approval.

I think this might be the key though i'm not sure if they refer to the O&D test.

"112 POWERS OF THE BOARD IN EVENT OF DEFAULT

112.1 The Board shall be empowered, upon learning, whether pursuant to Regulations 108, 110 or 114 or otherwise, of any breach of Regulations 79 and 106 to 109 inclusive to require the Club and/or person in question to take such action as is necessary to rectify the breach forthwith or within such period as the Board shall determine.

112.2 Any breach of any of the foregoing Regulations 105 to 108 inclusive, including without limitation knowingly rendering incorrect or incomplete information pursuant to Regulations 108 and 110, shall constitute misconduct. Without prejudice to the range of other sanctions that may be imposed in respect of such breach, any Club in breach of any of the aforesaid Regulations may with the sanction of a special resolution passed at an Annual or Extraordinary General Meeting of The League, be expelled from The League. There shall be no right of appeal against such expulsion"

 

[Sarge]

Yes, the EFL regulations do go a lot deeper into Owners and Directors and notifications, and that OIH can't simply sell to a new shareholder without EFL approval.

I think this might be the key though i'm not sure if they refer to the O&D test.

"112 POWERS OF THE BOARD IN EVENT OF DEFAULT

112.1 The Board shall be empowered, upon learning, whether pursuant to Regulations 108, 110 or 114 or otherwise, of any breach of Regulations 79 and 106 to 109 inclusive to require the Club and/or person in question to take such action as is necessary to rectify the breach forthwith or within such period as the Board shall determine.

112.2 Any breach of any of the foregoing Regulations 105 to 108 inclusive, including without limitation knowingly rendering incorrect or incomplete information pursuant to Regulations 108 and 110, shall constitute misconduct. Without prejudice to the range of other sanctions that may be imposed in respect of such breach, any Club in breach of any of the aforesaid Regulations may with the sanction of a special resolution passed at an Annual or Extraordinary General Meeting of The League, be expelled from The League. There shall be no right of appeal against such expulsion"

Had this arrive along with a form to sign n return last week ... apologies for the not great repro

 

[Colin B]

Had this arrive along with a form to sign n return last week ... apologies for the not great repro


View attachment 10905

I think it went out to all shareholders Sarge, as per Companies House regs on changes to the Articles of Association.

 

[Wallop]

I think it went out to all shareholders Sarge, as per Companies House regs on changes to the Articles of Association.

It did.

 

[Fred]

At the end of another year I'm still grateful for our present owners including Tiger for continuing to subsidising our football club.
As a side issue, Sheffield Wed losing 500k a week? Wow!

 

[holdsteady]

At the end of another year I'm still grateful for our present owners including Tiger for continuing to subsidising our football club.
As a side issue, Sheffield Wed losing 500k a week? Wow!

That’s only £26 million a year, peanuts .

 

[Fred]

That’s only £26 million a year, peanuts .

Arguably we are the 7th biggest Club in this division! We should never expect to get promoted out of this division. But that doesn't mean we won't.

 

[Symp59]

That's an amazing amount of money .Yes thankyou to our owners let's hope next year we get the planning permission granted I know then wr will have a good year .I still believe that we will have a great run in rhe second half of the season .We should have more points 2 strikers it could then be very exciting .

 

[yellowbow]

That's an amazing amount of money .Yes thankyou to our owners let's hope next year we get the planning permission granted I know then wr will have a good year .I still believe that we will have a great run in rhe second half of the season .We should have more points 2 strikers it could then be very exciting .

2023 is going to be one of the biggest and momentous years in OUFC’s history. We’ll find out if the county actually wants a fully professional football league club within its boundary or if it wants it to go the same way as every other professional sport, such as cricket and rugby, so that it consists entirely of part-time and amateur sport.

 

[Foley]

If they don't go up I reckon they will be in serious problems

At the end of another year I'm still grateful for our present owners including Tiger for continuing to subsidising our football club.
As a side issue, Sheffield Wed losing 500k a week? Wow!

 

[holdsteady]

If they don't go up I reckon they will be in serious problems

Nah, they are a big club, the football league will let them go into admin for a few points deduction then someone will buy them with a fraction of the debt, they get promoted and we here about how it's a miracle while during that happening at least one small club will go to the wall with a fraction of the debt but the football league will hammer them.

 

[Orkney Islands Yellow]

 

[tonyw]

Arguably we are the 7th biggest Club in this division! We should never expect to get promoted out of this division. But that doesn't mean we won't.

I presume Ipswich, Wednesday, Bolton, Derby, Portsmouth & Charlton are your top six? I mean they're all inarguably bigger than us in terms of ground size, crowds, recent history, ancient (relatively!) history and they've all at least won the Cup.

To say we're the 7th biggest side in the division - you'd then have to be able to argue that we're bigger than Barnsley & Plymouth. Tricky to do, given that they have bigger grounds, bigger crowds and a longer football league history. Barnsley have also a cup win to their name.....though we are ahead of Plymouth in having a major trophy and a spell in the top tier........

I'd have us down as 9th biggest.....although likely with a larger budget than that.

 

[bdodwell]

Plymouth also played Santos with Pele. 37K.

 

[Fred]

I presume Ipswich, Wednesday, Bolton, Derby, Portsmouth & Charlton are your top six? I mean they're all inarguably bigger than us in terms of ground size, crowds, recent history, ancient (relatively!) history and they've all at least won the Cup.

To say we're the 7th biggest side in the division - you'd then have to be able to argue that we're bigger than Barnsley & Plymouth. Tricky to do, given that they have bigger grounds, bigger crowds and a longer football league history. Barnsley have also a cup win to their name.....though we are ahead of Plymouth in having a major trophy and a spell in the top tier........

I'd have us down as 9th biggest.....although likely with a larger budget than that.

I agree with what you said really, I just want to remind people how fortunate we are having owners that are willing to spend quite a lot on players wages to keep us competitive. It's scary to think where we would end up if we spent within our means.

 

[tonyw]

I agree with what you said really, I just want to remind people how fortunate we are having owners that are willing to spend quite a lot on players wages to keep us competitive. It's scary to think where we would end up if we spent within our means.

Yeah, I think given our support but also our crappy ground situation (that a lot of lower league clubs aren't burdened with), we'd probably be at best a League One/League Two yo-yo club if everyone had to spend within means.