steventhfc
See man driving a german whip.
- May 20, 2009
- 2,059
- 818
Don't know personally, where the financial legal eagles at yo?!
Cain Hoy say 'No'.
- Thread starter THFCSPURS19
- Start date
Don't know personally, where the financial legal eagles at yo?!
spursfan77
Well-Known Member
- Aug 13, 2005
- 46,687
- 104,969
Formalities are receiving an offer?
"We are further required by the Code to issue a statement, 10 business days following the initial announcement listing the shareholding interests of the main shareholders, which is set out in the link below. Both these actions are formalities."
JUSTINSIGNAL
Well-Known Member
- Jul 10, 2008
- 16,023
- 48,736
Both these actions are formalities.
Surely this is the most important sentence of the statement. It's just THFC following procedure. It doesn't mean any offer has been received or accepted at this stage.
Surely this is the most important sentence of the statement. It's just THFC following procedure. It doesn't mean any offer has been received or accepted at this stage.
goughie1966
Well-Known Member
- Aug 28, 2008
- 5,150
- 17,874
For all Enic's faults they given us the likes of Modric, VDV, Bale and briefly Champions League football. Remember the Sugar reign.......
I've just listened to the Spurs Show podcast who had Harry Harris on. He told a great story about Dennis Bergkamp. He knew his agent in Holland who told Harry that Dennis was not enjoying life in Italy at Inter Milan and was desperate to play in the English league. He was a Spurs fan and was desperate for an approach from us.
Harry tells then Spurs owner Alan Sugar that Bergkamp is interested. Sugar says "who the hell is Dennis Bergkamp? I'll ask Gerry Francis (manager at the time) his view". Francis says, "no thanks, plays off the front 2 and doesn't score enough" and Francis wanted a 'proven' goalscorer. Francis decides against Bergkamp and buys Chris Armstrong from Crystal Palace instead.
When I think back to the 90's I want to thank Enic for taking us out of those dark days...
we_all_loved_freund
Well-Known Member
- Apr 6, 2006
- 1,695
- 998
As I understand it, CH formally declared an interest in making an offer. As a result of the formal interest, THFC then had to give information as to how many shares were in existence. Within 10 days of that announcement, THFC had to disclose the identity of the main shareholders of those shares.
I don't think this announcement has been prompted by anything new, as I see it.
I don't think this announcement has been prompted by anything new, as I see it.
Dirty Ewok
Well-Known Member
- Aug 29, 2012
- 9,062
- 19,531
From what was explained to me it is one of them...yes
Doesn't mean we are going to sell, but it is one of the steps for an offer to be put forward.
Cheltenham Spur
Re mem mem remember member
- Aug 23, 2012
- 1,020
- 3,704
I read it as something that the club are required to do by the takeover code. They've now done it. The tone of that last sentence suggests it's nothing to get excited about.
Ghost Hardware
Well-Known Member
- Aug 31, 2012
- 18,480
- 63,647
Nothing new to see here, just following the regulations. Nothing about a offical bid actually being made.
Geronimo897
Active Member
- Jul 15, 2013
- 398
- 356
Agree totally, I just wonder if they are capable of taking us that step further we now require, and I somehow doubt it.
Gb160
Well done boys. Good process
- Jun 20, 2012
- 23,679
- 93,466
I like this bit...
They don't mention whether that's the case now.
Clutching at staws here
Spurslove
Well-Known Member
- Jul 6, 2012
- 6,627
- 9,281
I'm a big fan of what Levy, ENIC and Joe Lewis have done for the club in the years they've been running the show, but I think we're all coming round to the idea that they've kind of taken things as far as they can go, and what's more, it's very possible they realise it too. I reckon the hearts are willing, but the heads may not be.
Having said that, I don't think after all the years hard work Levy has put in re-building this football club are just going to be thrown away to the first people to turn up with a bundle of cash, and unclear objectives. I think he'll insist the new owners have a demonstrable plan of action to transform the club into major contenders, seriously challenging for honours on a regular basis.
Do I believe Daniel Levy has the club's welfare in his heart? Yes, I do and I don't care how many people choose to poo poo that idea. I don't believe he will allow the new owners to simply use the club as security to borrow more money against. I just won't accept that. Not after all the graft he's put in.
I would love to know what Cain Hoy's intentions are (wouldn't we all...) but I do expect a bidding war, once the club is officially put on the market. At least Levy and Lewis will have the opportunity of accepting the bid which suits them most, and believe it or not, that won't simply be the one which offers the most cash. There are many other factors involved. A bit of integrity and a tremendous amount of long term business-sense will go a long long way.
Kendall
Well-Known Member
- Feb 8, 2007
- 38,502
- 11,933
Whilst I too question whether ENIC can take us much further than they have done, I also question anyone else, unless they're willing and able to pump a lot of money and accept a massive short term loss.
I can't see Cain Hoy being that entity and so I am very sceptical of them replacing ENIC.
I can't see Cain Hoy being that entity and so I am very sceptical of them replacing ENIC.
ginola99
Well-Known Member
- Sep 4, 2005
- 684
- 1,423
That Bergkamp story sums it up for me, yes ENIC can't take us any further (even I'm of that opinion now) but at least they got us out of those horribly depressing days in which Sugar brought financial security to the club only to drag us further down. Last season was depressing at times but we finished 6th, something Sugar couldn't even achieve!
Dinghy
Well-Known Member
- Jun 22, 2005
- 6,326
- 15,561
Absolutely nothing. It's just a continuation of the procedures commenced 10 days ago. This changes nothing.
Kendall
Well-Known Member
- Feb 8, 2007
- 38,502
- 11,933
It's interesting to see that Levy doesn't actually own any of ENIC. A discretionary trust of which he is just one beneficiary and probably just one Trustee of does.
This means that he has, in theory, even less of say over a prosed sale and goes some way as to explaining the sustainable nature of his running of Spurs.
He is obliged to run assets of a discretionary trust for the benefit of all beneficiaries.
This means that he has, in theory, even less of say over a prosed sale and goes some way as to explaining the sustainable nature of his running of Spurs.
He is obliged to run assets of a discretionary trust for the benefit of all beneficiaries.
Cain Hoy have filed a form 8 for the acquisition of spurs. Public opening disclosure by a party to an offer. Rules 8.1 and 8.2 of 'The Code'
https://twitter.com/KPS_THFC/status/514331134210367489
Which surely means they are about to make an offer.
Spursidol
Well-Known Member
- Sep 15, 2007
- 12,636
- 15,834
Form 8 :
Opening Position Disclosures by the parties to and offer and by connected EPTs must be made by no later than 12 noon on the 10th business day after the commencement of the offer period or the announcement that first identifies an offeror (as the case may be). Where required, Opening Position Disclosures by persons with interests in relevant securities of 1% or more must be made by no later than 3.30 pm on the 10th business day after the commencement of the offer period or the announcement that first identifies an offeror (as the case may be). Details of the time and date at which an offer period commenced and at which an offeror was first identified are set out in the Disclosure Table. In order to calculate the deadline for Opening Position Disclosures, it is therefore necessary to count forward 10 business days from the relevant date.
http://www.thetakeoverpanel.org.uk/disclosure/disclosure-table
So its purely routine - 10 days after the first announcement.
Oh and 'Disclosure of dealings and positions in this offeror is not required' means Cain Hoy are not required to do a similar filing (possibly as they do not own any TH shares at present)
Last edited:
spursfan77
Well-Known Member
- Aug 13, 2005
- 46,687
- 104,969
If he's only a beneficiary and not a trustee then he'll have no real say at all.
