Board Zaki Steps Down

greatunclekip said:
Not ideal of course. But as an investment banker, when we blew the playoffs, holding your cash in there for another loss making season makes no sense. Quite simply we'll never have a better chance.

Covid then hits and it becomes a total no brainer.
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aren’t you the one crying coz we aren’t signing superstars though?
 
werthersoriginal said:
Erm isn't this quite worrying? Maybe prompted by the lack of progress with the stadium as well as by Covid?
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My first thought (and concern) upon reading this news.

Seems odd to do this a month into the new season, but I imagine Covid is throwing the spanner in the works for everyone, regardless of the EFL structure...
 
Whatever the reasons this can only be a bad thing for OUFC. I thought Zaki always spoke and posted very well. He made me feel the club were doing the right things and moving forward.
It was quite an abrupt resignation so has to be concerning.
 
Oufcrealist said:
Whatever the reasons this can only be a bad thing for OUFC. I thought Zaki always spoke and posted very well. He made me feel the club were doing the right things and moving forward.
It was quite an abrupt resignation so has to be concerning.
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The man himself said that he started contemplating and having discussions after the Wembley final 2.5 months ago.... so hardly abrupt, it was just unexpected news to us.
 
Oxt1 said:
The man himself said that he started contemplating and having discussions after the Wembley final 2.5 months ago.... so hardly abrupt, it was just unexpected news to us.
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So abrupt to us then!! As in sudden and unexpected.
 
Oxt1 said:
The man himself said that he started contemplating and having discussions after the Wembley final 2.5 months ago.... so hardly abrupt, it was just unexpected news to us.
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Agreed, very nice guy, but has clearly decided that his investment (which at anything below premier league level is going to make you a huge loss) is not worth it especially at the moment. Like all of us who have probably been squeezed more than ever at present on finances has decided to drop out. He was clearly not the main financial backing for the club so i dont see any reason for concern here. Respect his decision and move on.
 
werthersoriginal said:
Erm isn't this quite worrying? Maybe prompted by the lack of progress with the stadium as well as by Covid?
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Stadium solution is still some way off. Constantly ongoing process but not close yet. Beware of the foam finger claims - the deadlines have come and gone on those multiple times as it is. Promotion would’ve been helpful on many fronts but we are where we are.

No need to panic as it stands, but will be interesting to see what happens in the months ahead. Will we have new investors?
 
on the club info page (https://www.oufc.co.uk/club/information/) it says:
Ownership: Oxford United Ownership
Sumrith Thanakarnjanasuth and Horst Geicke own more than 10% of Oxford United Football Club Limited shares.
(ie no-one else owns more than 10% of shares).

According to companies house website:
1 active person with significant control / 0 active statements

Mr Sumrith Thanakarnjanasuth ACTIVE​

Correspondence addressThe Kassam Stadium, Grenoble Road, Oxford, Oxfordshire, OX4 4XP
Notified on21 February 2018Date of birthDecember 1962NationalityThai

Nature of control
Ownership of shares – 75% or more
Ownership of voting rights - 75% or more
 
I did a quick google search of Floreat Capital to see what they are up to these days and if any OUFC connection.
Without going into too much detail and perhaps not the exact entities, a couple of years back ZN was one of the directors and there was a high interest loan to Reading FC from their investment company secured on parachute payments / tv money, so basically a free hit.
Anyway, it looks like ZN left there last year under litigious circumstances in a dispute as to who owned the company.
 
RyanioBirdio said:
Stadium solution is still some way off. Constantly ongoing process but not close yet. Beware of the foam finger claims - the deadlines have come and gone on those multiple times as it is. Promotion would’ve been helpful on many fronts but we are where we are.

No need to panic as it stands, but will be interesting to see what happens in the months ahead. Will we have new investors?
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Blimey the resident apocalypsist is chilled! That is a relief.
 
Oxt1 said:
Big difference between abrupt resignation, which implies something untoward and it being a surprise to us fans!
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Well it was a sudden surprise to me and many others I suspect.
Which to me means the same thing.
 
As others have said, the real shame here is that Zaki was the voice of reason connecting the club to the fanbase. He always spoke very well, never made outlandish promises that he couldnt back up and was always very clear with his information. Now we only have Tiger as the spokesman - Im never totally convinced that his comments are always totally thought through and considered (Im not even convinced his written statements are written by him at all!) - Niall McWilliams who never really has anything of much substance to say and Karl Robinson who is, well, Karl!
 
OUFCGav said:
on the club info page (https://www.oufc.co.uk/club/information/) it says:
Ownership: Oxford United Ownership
Sumrith Thanakarnjanasuth and Horst Geicke own more than 10% of Oxford United Football Club Limited shares.
(ie no-one else owns more than 10% of shares).

According to companies house website:
1 active person with significant control / 0 active statements

Mr Sumrith Thanakarnjanasuth ACTIVE​

Correspondence addressThe Kassam Stadium, Grenoble Road, Oxford, Oxfordshire, OX4 4XP
Notified on21 February 2018Date of birthDecember 1962NationalityThai

Nature of control
Ownership of shares – 75% or more
Ownership of voting rights - 75% or more
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How up to date do these records have to be?
 
Although Zac maintained an engaging persona that seemed to go down well with most fans can anyone say exactly what he brought to the club and therefore has taken with him or what his true intentions were and whether he achieved them. And I mean something more than his encouraging words and a vague vision.
 
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OUFCGav said:
You have 21 days to notify CH of any major change in shareholding..
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it says one person has significant control - does anyone know if there is a % holding required that deems that person to have ‘significant control’?
 
Wallop said:
it says one person has significant control - does anyone know if there is a % holding required that deems that person to have ‘significant control’?
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PSC must meet one or more of the following conditions of control.

Most PSCs are likely to be people who hold:
  • more than 25% of shares in the company
  • more than 25% of voting rights in the company
  • the right to appoint or remove the majority of the board of directors
 
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