Not really the case.

As this is effectively a rights issue there should be a prospectus clearly setting out the club's current situation, it's financial viability and it's business plan. It would clearly state the proposed category of shareholding, voting rights and dividend rights and most importantly, the potential buyer would be able to assess the likelihood of being called upon to add further funds at future dates.

It is a straightforward business requirement and a prospectus should be available by now so we can all make a considered judgement on the situation.

Agree with last post.

At the last 'share issue' though conclusions on here were it's not an investment, more of a donation.

I think that your outline of proceedings is the usual for a plc.

If the plan, however vague, is for the board's shares to somehow be set aside and a new board elected from the new shareholders then this must be a share issue, not donations. As such, the company needs to prepare a prospectus outlining the full terms, conditions and obligations on future shareholders.

Can I suggest one or two of you read some of the discussion on one of your other threads?

1 - whatever it is, it is clearly NOT a rights issue. A rights issue is made to existing shareholders, who may take up or sell their rights or just ignore it.

2 - borntoit is otherwise making a similar point to the one I made on the other thread - that this looks on the face of it to be an invitation to the public to subscribe for shares. If it WAS, then not only would a prospectus (and a shedload of costs) be required, but the company would have to be a plc - which it is not. It would otherwise be illegal for the company to act as it is doing.

3 - someone - I think it was Derwent - explained on the other thread the one possible reason why this invitation might avoid being seen as a public issue, which had been my thought too although I think some fast talking might be required to justify it. I do think someone should get to the bottom of this, unless not already done so, so that if nothing else you can be happy the BOD is actually empowered to do what it is doing and is acting legally. I am sure it must be. They clearly believe they are.

4 - everything I have seen makes it clear this is a share issue. I cannot see how anyone can view this as being a solicitation of donations. If it IS then there is some extremely disingenuous wording being used, bordering on the actionable maybe.

And, for the avoidance of doubt, I am commenting only as a concerned observer. Despite the pathetic anti-Bulls rantings of a few on here over recent years, and the occasional run-in with a mod when I might have stated an inconvenient truth, I remain concerned not to see your club fall over and you fans let down by a useless BOD. Who, incidentally, could have launched a "Pledge" campaign just the same as Bulls did, since you were perhaps the one other club most in need of such. One or two very old hands might remember me from the very early days of the internet forums and chatrooms, before the atmosphere was poisoned by some of the fekkwits, and should recall my bona fides.

My memories of you do have something to do with a bona!