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Oh – I replied aobut Paul and then thought you meant Gary and deleted my comment.
Paul Cook is an employee of the club and has absolutely no say whatsoever in the takeover.
He will come into work one day and (probably/possibly) be told he has a new boss. If someone has said that he is involved, then you have a clear indication how reliable your informant is. He is in charge of footballing matters. Business deals, company takeovers, stock market announcements etc are way way above his level.
Gary Cook (neither have an E) is at least a non-executive director so may have some say, albeit slight.I’d imagine his visit, if correct, would have been more along the lines of meeting his new employer. Establishing who he reports to and the new structure.
In a club of our size the chairman/manager working relationship is very close. It makes sense to get all this stuff out of the way before a busy run of games.
has takeover fell through very quiet ?I will try to explain this again – very slowly.
Takeover deals are highly complex, and this one is by a company whose shares are listed on the Hong Kong Stock Exchange so any information that could affect share price is highly confidential until the company has dotted every “i” and crossed every “t”.
It takes a long time while agreements are reached, and then all the due diligence enquiries are done.
We may not hear anything for quite a while or there could be an announcement today.
The only thing that has been announced is that preliminary discussions had taken place and Latics agreed that for a couple of weeks at least theory would not hold discussions with anyone else. A technicality as I do not believe that anyone else is in the frame (but what do I know?)
This is all very hush-hush stuff, and there is absolutely no way anyone is going to say anything that could affect share prices.We’re not going to hear anything until the club is ready to present the new owners in a press conference or report on the website.
1st March was the deadline (I’m not even sure it was a firm deadline), to get the business done. This has been a 6 month process.
We’re not going to hear anything until the club is ready to present the new owners in a press conference or report on the website.1st March was the deadline (I’m not even sure it was a firm deadline), to get the business done. This has been a 6 month process.
I’ll remind you all again of what HAS been notified. It was a “term sheet” – a notification that discussions would take place.
http://www.ientcorp.com/attachment/pdf/1517820308fNgUs.pdf
Within that is a section headed “exclusivity”. This said that up to 14 February the club would not enter into any other discussions with anyone else (I precis the content). It then carries on that “The Company and the Sellers agree that if negotiations are still ongoing between the parties and have not been terminated by either party but exchange of the Proposed Acquisition has not occurred by 14 February 2018, the Exclusive Period will be automatically extended to 28 February 2018”
That is the sole relevance of 28 February. The club are now free to open discussions with anyone else if there is anyone or possibly an agreement has been made with the proposed purchasers.
The fact we have heard nothing means nothing: we will hear nothing until a decision is made one way or the other.
@Bickymon – if someone genuinely in the know has told you that the deal is off, then they are guilty of a very serious financial crime, as they are leaking confidential information that could affect share prices on the HK Stock Exchange. The penalties usually involve jail and major financial penalties, as insider dealing could then take place.
On the other hand they maybe (probably?) are spouting BS.
The deal may be on or off – but we mere mortals won’t know until we are officially told.Be end of the season if anything happens, no point in upsetting the proverbial promotion apple cart and all that!
Some press today stating takeover may now be in June if at all as the International Entertainment Corporation has missed a deadline to complete.This now opens the doors for other potential bidders.Dave Whelan is concerned the Hong Kong owners “have yet to show their money”. Doesn’t make good reading.Makes it even more important to get our act together on the field and get out of this league.Our on the field performances need to improve markedly to achieve this without being in a play off gamble.
May possibly have not cashed in on players in January so to sell them in the summer just in case the takeover did fall through. Possibly some of the hapless performances in the league are down to this. Who knows?
probably why powell looks as if he is not interested ..january he was expecting a takeover and a new contract why he said he wanted to stay takeover falls through (if it has) and now he is pissed off and knows he like a few more will be gone
im expecting league one again next year with a poor to mid table team and gates falling further
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