A bit of news on one of our shareholders : Sun Apr 17, 2016 9:45 pm  

http://www.dailymail.co.uk/news/article ... dding.html Does it affect us? Could Reactiv's share in Fax be given to creditors? Do they still have shares in Fax?

http://www.dailymail.co.uk/news/article ... dding.html Does it affect us? Could Reactiv's share in Fax be given to creditors? Do they still have shares in Fax?

Re: A bit of news on one of our shareholders : Mon Apr 18, 2016 6:54 am  

Regardless of how it might affect us this is a loophole in the law that needs shutting off. Will this affect the jobs of those who work for Reactive Media?
Oh, and will we get invited to the wedding? And will he have a brass band playing the wedding march?

Re: A bit of news on one of our shareholders : Mon Apr 18, 2016 7:26 am  

A new company has been set up operating from same premises with same staff.

The problem may be that Fax shares, if Reactiv still own some, could be seen as an asset and sold off or given to creditors of liquidated company to cover debts...

Re: A bit of news on one of our shareholders : Mon Apr 18, 2016 7:31 am  

https://companycheck.co.uk/company/0619 ... -structure Looks like Reactiv still holds the shares. Depends on how the liquidating game has been played by Tony Abbott whether all assets of Reactiv have been transferred to his new company through a deal struck with the liquidators. He may have felt the shares were worth nothing and more hassle than they are worth in which case they will remain an asset of Reactiv. It will be up to the liquidator to sell them to get the best return for the creditors of Reactiv but they are pretty much worthless given that club has no major assets - stadium, training ground, etc.

https://companycheck.co.uk/company/0619 ... -structure Looks like Reactiv still holds the shares. Depends on how the liquidating game has been played by Tony Abbott whether all assets of Reactiv have been transferred to his new company through a deal struck with the liquidators. He may have felt the shares were worth nothing and more hassle than they are worth in which case they will remain an asset of Reactiv. It will be up to the liquidator to sell them to get the best return for the creditors of Reactiv but they are pretty much worthless given that club has no major assets - stadium, training ground, etc.

Re: A bit of news on one of our shareholders : Mon Apr 18, 2016 7:50 am  

Shares in a rugby club are worth pretty much diddly squat.

It is a loophole that needs looking at I agree. So many businesses seem to roll from one name to another simply to avoid paying bills which makes it look even worse on those that genuinely go belly up from unavoidable circumstances.

Re: A bit of news on one of our shareholders : Mon Apr 18, 2016 8:15 am  

what a complete **** hope he has nothing more to do with our club..

Re: A bit of news on one of our shareholders : Mon Apr 18, 2016 4:07 pm  

I am concerned that somebody who has so many shares at the club can do such a thing. I guess we are lucky that the club has no assets and the shares are worthless. Personally if this is true, I am not too happy with somebody like this being the major shareholder. But I guess there is little us or the board can do. It would be good for Mr Abbott to make a statement on this and if in anyway the club shares are affected in some way. We all make mistakes and sometimes look to cut corners etc. But this alleged news, goes way beyond that and could damage the club in some way.

Re: A bit of news on one of our shareholders : Mon Apr 18, 2016 4:26 pm  

I may be wrong but I think share holdings in companies such as fax or fcht or irrelevant unless having a majority so I don't think there is cause for concern.

Before htafc went bump, the supporters trust was the second largest shareholder but had little or no influence.

Re: A bit of news on one of our shareholders : Mon Apr 18, 2016 6:47 pm  

Is the club listed? Are the shares a part of this? Obviously there are legal issues here that could cause issues and somebody needs to ensure the club are on the ball with this.

Re: A bit of news on one of our shareholders : Mon Apr 18, 2016 9:34 pm  

Oh dear some people got him right and many of us got him badly wrong, he took us in and this is not good reading, glad he is no longer our major sponsor and I hope we distance the club from him now this is arrogance on a huge proportion.