MSI/Joorabchian takeover bid

A selection of the very best posts and/or most memorable threads on KUMB since the current Forum launched in 2002.

Moderator: Gnome

Post Reply

Would you welcome a takeover by this Iranian in the news today?

Poll ended at Mon Aug 08, 2005 12:39 pm

Yes
168
58%
No
121
42%
 
Total votes: 289

User avatar
Up the Junction
Thinks he owns the place
Posts: 70930
Joined: Wed Dec 04, 2002 12:03 am
Has liked: 744 likes
Total likes: 3444 likes

Post by Up the Junction »

Taken from pbenjy's post on the locked thread:

I am a shareholder in West Ham, by which I mean that I own one share, however this does mean that today I received a package of information from Uncle Terry about the proposed take over.

I don't think the various documents that I received are really telling us anything that we don't already know. However, people who know more about these things than me may care to read the fine print, so I have scanned the various documents below: -


22 August 2005

To the shareholders of West Ham United pic ("West Ham United")

Dear Shareholder
Press speculation regarding a possible offer
On 18 August 2005, Media Sports Investments Limited ("MSI") announced that Kiavash Joorabchian and his consortium are interested in making an offer for West Ham United. This follows recent speculation in the press, which has continued since the announcement was made.
There is currently no proposal for the Board to consider.
The Board can assure shareholders of West Ham United and fans of the club that, should any proposal be made in the future which could result in a change of control, the Board will take into account all relevant considerations, including the status of the potential offerer as well as the value and financial structure of any offer and any impact these considerations may have on the future operation of the football club.
In the meantime, you and the fans of the club may be assured that the club remains active in the transfer market and will take advantage of appropriate opportunities to strengthen its squad.
For information purposes, a copy of MSI's announcement of 18 August 2005 and the two announcements made by West Ham United on 19 August 2005 are attached.



Media Sports Investments Ltd 18 August 2005
RESPONSE TO PRESS SPECULATION ON WEST HAM UNITED PLC
Kia Joorabchian notes the recent Press speculation in respect of West Ham Uni' PLC ('West Ham1}. Kia Joorabchian and his consortium confirm that they are considering making an offer for West Ham. However, matters are at a very earl; stage and there can be no certainty that a firm offer will be forthcoming or • terms upon which any such offer would be made.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (tl 'City Code'), any person who, alone or acting together with any other person(: pursuant to an agreement or understanding (whether formal or informal) to acquire or control relevant securities of West Ham, owns or controls, or becoi the owner or controller, directly or indirectly, of one per cent, or more of . class of securities of West Ham is required to disclose, by not later than 12 noon (London time) on the London business day following the date of the relev; transaction, dealings in such securities of that company (or in any option in respect of, or derivative referenced to, any such securities) during the peril to the date on which the offer becomes or is declared unconditional as to acceptances or lapses or is otherwise withdrawn.
Under the provisions of Rule 8.1 of the City Code, all dealings in relevant securities of West Ham by Kia Joorabchian or West Ham, or by any of their respective 'associates' (within the meaning of the City Code) must also be disclosed.
If you are in any doubt as to the application of Rule 8 to you, please contac-an independent financial adviser authorised under the Financial Services and Markets Act 2000, consult the Panel's website at
http://www.thetakeoverpanel.org.uk
or contact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013.



West Ham United PLC 19 August 2005
19 August 2005
FOR IMMEDIATE RELEASE
West Ham United Pic ('West Ham') Rule 2.10 Announcement; Relevant Securities in Issue Statement
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers (the 'City Code'), West Ham announces that it has the following securities in issue:
Ordinary Shares of 25p each 20,202,352 Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the City Code, any person who alone or acting together with any other person(s) pursuant to an agreement or understanding (whether formal or informal) to acquire or control relevant securities of West Ham, owns or controls, or becomes the owner or controller, directly or indirectly, of one per cent, or more of any class of securities o: West Ham is required to disclose, by not later than 12.00 noon (London time) < the London business day following the date of the relevant transaction, dealii in such securities of that company (or in any option in respect of, or derivative referenced to, any such securities) during the period to the date < which the offer becomes or is declared unconditional as to acceptances or lap: or is otherwise withdrawn.
Under the provisions of Rule 8.1 of the City Code, all dealings in relevant securities of an offerer or West Ham by an offerer or West Ham, or by any of their respective 'associates' (within the meaning of the City Code) must also disclosed.
If you are in any doubt as to the application of Rule 8 to you, please contac' an independent financial adviser authorised under the Financial Services and Markets Act 2000, consult the Panel's website at
http://www.thetakeoverpanel.org.uk
or contact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013



West Ham United PLC 19 August 2005
FOR IMMEDIATE RELEASE
West Ham United Pic ('West Ham1) Statement re Possible Offer
The Board of West Ham notes the recent press speculation concerning the ownership of West Ham and in particular the announcement made by Media Sports Investments Limited ('MSI') on 18 August 2005 announcing that Kia Joorabchian and his consortium are interested in making an offer for West Ham.
There is currently no proposal for the Board to consider.
The Board can assure shareholders of West Ham and fans of the club that, shou: any proposal be made in the future which could result in a change of control, the Board will take into account all relevant considerations, including the status of the potential offerer as well as the value and financial structure < any offer and any impact these considerations may have on the future operatic) of the football club.
In the meantime, the shareholders of West Ham and fans of the club may be assured that the club remains active in the transfer market and will take advantage of appropriate opportunities to strengthen its squad.
For information purposes, a copy of MSI's announcement of 18 August 2005 as w< as this announcement and, the announcement made by West Ham earlier today in accordance with Rule 2.10 of the City Code on Takeovers and Mergers (the 'Cit; Code'), will be sent to shareholders next week.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the City Code, any person who alone or acting together with any other person(s) pursuant to an agreement or understanding (whether formal or informal) to acquire or control relevant securities of West Ham, owns or controls, or becomes the owner or controller, directly or indirectly, of one per cent, or more of any class of securities o: West Ham is required to disclose, by not later than 12.00 noon (London time) < the London business day following the date of the relevant transaction, deali] in such securities of that company (or in any option in respect of, or derivative referenced to, any such securities) during the period to the date on which the offer becomes or is declared unconditional as to acceptances or lapses or is otherwise withdrawn.
Under the provisions of Rule 8.1 of the City Code, all dealings in relevant securities of an offerer or West Ham by an offerer or West Ham, or by any of their respective 'associates' (within the meaning of the City Code) must also disclosed.
If you are in any doubt as to the application of Rule 8 to you, please contac-an independent financial adviser authorised under the Financial Services and Markets Act 2000, consult the Panel's website at http://www.thetakeoverpanel.org.uk
or contact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013.
Enquiries: West Ham United Pic: 020 8548 2748
Nicholas Igoe (Financial Director) Scott Duxbury (Legal Director)
User avatar
jay66uk
Posts: 5490
Joined: Thu Jun 03, 2004 6:55 pm
Location: North West

Post by jay66uk »

I hate to be a doom and gloom merchant, and I know many will disagree...but I think this takeoever would be just about the worst thing that could happen to the club at this moment. We have got off to a good start, we have a good team spirit going, things seem to have come together so much since Easter.

Yes, some more sheckels in the transfer coffers would be welcome, but at what price?
User avatar
Gabers218
Posts: 63
Joined: Mon Aug 22, 2005 10:03 am
Location: Used to have more posts than this! ...honest

Post by Gabers218 »

jay66uk wrote:I hate to be a doom and gloom merchant, and I know many will disagree...but I think this takeoever would be just about the worst thing that could happen to the club at this moment. We have got off to a good start, we have a good team spirit going, things seem to have come together so much since Easter.

Yes, some more sheckels in the transfer coffers would be welcome, but at what price?
I agree with you 100% Im not going to argue with the people who want the takeover so I dont want any snipers targetting me for not agreeing with them.

We are going places at the moment and this MSI stuff seems more of a hinderance than a blessing IMVHO
User avatar
Chill_The_Kill
Yellow card - abuse
Posts: 7142
Joined: Wed Apr 20, 2005 9:44 am
Location: Lovin' it

Post by Chill_The_Kill »

Gabers218 wrote: I agree with you 100% Im not going to argue with the people who want the takeover so I dont want any snipers targetting me for not agreeing with them.

We are going places at the moment and this MSI stuff seems more of a hinderance than a blessing IMVHO
:shock:

We have played two games
Do you think that with Brown we will ever be contenders for the Champs Leaugue?

Yes the timing is not perfect but then when is it?
User avatar
Quest
Posts: 563
Joined: Tue Jun 29, 2004 1:27 pm
Location: most of the time on the A13

Post by Quest »

jay66uk wrote:I hate to be a doom and gloom merchant, and I know many will disagree...but I think this takeoever would be just about the worst thing that could happen to the club at this moment. We have got off to a good start, we have a good team spirit going, things seem to have come together so much since Easter.

Yes, some more sheckels in the transfer coffers would be welcome, but at what price?
What concerns me most is how hands on they would want to be. Corinthians are on their third coach since the takeover and there are stories of Kia storming into the changing room and having a go at players. Maybe this is not true, but the change in coaching staff suggests something is not right. Maybe that would not happen here.

We do need the investment to hang on to our good players over the medium term.I am very worried about an immature 33 year old thinking that all of a sudden “he is West Ham”.
User avatar
Gabers218
Posts: 63
Joined: Mon Aug 22, 2005 10:03 am
Location: Used to have more posts than this! ...honest

Post by Gabers218 »

Chill_The_Kill wrote: :shock:


We have played two games
Do you think that with Brown we will ever be contenders for the Champs Leaugue?

Yes the timing is not perfect but then when is it?
Im all for investing in the team and going forwards BUT just because this bloke is the only one offering everyone is creaming over it and not really thinking about the long term problems that COULD be caused if we let this smug looking pr*ck takeover our football club.

And only playing 2 games or 22 games makes no difference to me anyone with the 1st idea on football can see the dramatic change in the team already. I will admit there is a long way to go but with the right striker being brought in we can easily finish 11th, 12th this season and build the foundations for something really special! Not have something manufactured out this blokes wallet! This of course is just my humble opinion :wink:
User avatar
Derby Hammer
Posts: 1639
Joined: Wed Oct 20, 2004 3:26 pm
Has liked: 21 likes
Total likes: 30 likes

Post by Derby Hammer »

Guys, quick question. What stock exchange are we listed on? Also anyone have any idea how much our shares have performed over the past few months??
User avatar
Warwickshire Hammer
Posts: 176
Joined: Mon Aug 25, 2003 11:26 am

Post by Warwickshire Hammer »

Derby Hammer wrote:Guys, quick question. What stock exchange are we listed on? Also anyone have any idea how much our shares have performed over the past few months??
We are not listed on the stock exchange, being a private company, owned and controlled by a handful of indivuals, therefore the value of our shares is largely irrelevent, as they tend to remain static since they are not traded.
User avatar
Gabers218
Posts: 63
Joined: Mon Aug 22, 2005 10:03 am
Location: Used to have more posts than this! ...honest

Post by Gabers218 »

Warwickshire Hammer wrote: We are not listed on the stock exchange, being a private company, owned and controlled by a handful of indivuals, therefore the value of our shares is largely irrelevent, as they tend to remain static since they are not traded.
I believe brewin dolphin (a broker in the City of London) will sell you shares but there more of a novelty item than an investment and are not cheap either
User avatar
Derby Hammer
Posts: 1639
Joined: Wed Oct 20, 2004 3:26 pm
Has liked: 21 likes
Total likes: 30 likes

Post by Derby Hammer »

Ah OK no probs. It's just I've heard of a few people say that they have shares in West Ham so assumed we were a PLC. We also have our company financial reports and statements on the o/s, can't see why we'd put them on if we were a limited company.
User avatar
Warwickshire Hammer
Posts: 176
Joined: Mon Aug 25, 2003 11:26 am

Post by Warwickshire Hammer »

Gabers218 wrote: Im all for investing in the team and going forwards BUT just because this bloke is the only one offering everyone is creaming over it and not really thinking about the long term problems that COULD be caused if we let this smug looking pr*ck takeover our football club.

And only playing 2 games or 22 games makes no difference to me anyone with the 1st idea on football can see the dramatic change in the team already. I will admit there is a long way to go but with the right striker being brought in we can easily finish 11th, 12th this season and build the foundations for something really special! Not have something manufactured out this blokes wallet! This of course is just my humble opinion :wink:
'smug looking prick'? Although I don't consider his looks to be important, I was under the impression that we had one of those in control already.

I really can't see how you can judge the current squad after 2 games, that is totally bizarre. What we can say is that the majority of the squad is the one that finished 6th in division 2 and as welcome as the additions of Gabbidon and Yossi are, they are nowhere near enough to bridge the gap between divisions. Fair enough we have started well, but then again so have many other promoted sides in the past, only to be relegated, even Millwall led the table at one point.

The fact remains that under Brown the club will never realise it's potential. He couldn't do it when we had the best crop of youngsters the club and possibly England had ever produced, so he's not gonna do it now. He's had his chance, it's time to walk away with a wad of cash and a shred of dignity, before he has the chance to cock it up again.
User avatar
Welsh Hammer
Posts: 500
Joined: Tue Oct 28, 2003 11:08 am
Location: Wales, innit.

Post by Welsh Hammer »

Up the Junction wrote: You're right CB ... £100m wouldn't do us any favours at all, eh ...

Nice words but there's absolutely nothing in this piece that supports anything you say - unless you class buying world class players as 'interfering with the team'.
As long as said players fit in with the team that the manager is building then that's fine. Otherwise you get a situation like Newcastle, where Freddy Shepherd goes and buys players he wants, but the manager doesn't like, or who don't suit their style of play. This also appears to be what happened at Corinthians. If you thought Roeder was a 'Yes' man, what kind of manager will they need to bring in to agree to that sort of interference?
User avatar
Doubting Tomas
Posts: 4541
Joined: Fri Nov 19, 2004 3:24 pm
Location: England, I think.

Post by Doubting Tomas »

Would it be so terrible if ;

the new bloke takes over, Pardew is sacked and most of the current squad released/sold off, a new world class manager and a squad of 20 world class players are brought in, we go on to realistically challenge for the league title for the first time in our history and qualify for the champions league ? West Ham in the Champions league FFS.

Why give a **** if we are called the new Chelsea, theyv'e just won the league title.............we never have.

Even if it all goes tits up after a few seasons at least we will have had a taste of the high life and we'll just be back where we are now.


Bring it on.
User avatar
Matt
Posts: 2832
Joined: Thu Dec 05, 2002 5:20 pm
Contact:

Post by Matt »

Derby Hammer wrote:Ah OK no probs. It's just I've heard of a few people say that they have shares in West Ham so assumed we were a PLC. We also have our company financial reports and statements on the o/s, can't see why we'd put them on if we were a limited company.
West Ham is a public company, just not traded on the stock market. An unusual but not unheard of arrangement.
User avatar
Gabers218
Posts: 63
Joined: Mon Aug 22, 2005 10:03 am
Location: Used to have more posts than this! ...honest

Post by Gabers218 »

Warwickshire Hammer wrote: 'smug looking prick'? Although I don't consider his looks to be important, I was under the impression that we had one of those in control already.

I really can't see how you can judge the current squad after 2 games, that is totally bizarre. What we can say is that the majority of the squad is the one that finished 6th in division 2 and as welcome as the additions of Gabbidon and Yossi are, they are nowhere near enough to bridge the gap between divisions. Fair enough we have started well, but then again so have many other promoted sides in the past, only to be relegated, even Millwall led the table at one point.
The fact remains that under Brown the club will never realise it's potential. He couldn't do it when we had the best crop of youngsters the club and possibly England had ever produced, so he's not gonna do it now. He's had his chance, it's time to walk away with a wad of cash and a shred of dignity, before he has the chance to cock it up again.
Im not judging the whole squad after just 2 games im just saying that they look totally different from that of last season. The football has improved the passion has returned and they are playing some really good stuff

I will go all out and admit im not a Brown Out man! Ive never hid that fact either! Whats saying the club will be a success under MSI???? could be even worse if they dont get what they want out of it and then who in the world will have the money to buy them out?
User avatar
Gabers218
Posts: 63
Joined: Mon Aug 22, 2005 10:03 am
Location: Used to have more posts than this! ...honest

Post by Gabers218 »

Doubting Tomas wrote:Would it be so terrible if ;

the new bloke takes over, Pardew is sacked and most of the current squad released/sold off, a new world class manager and a squad of 20 world class players are brought in, we go on to realistically challenge for the league title for the first time in our history and qualify for the champions league ? West Ham in the Champions league FFS.

Why give a **** if we are called the new Chelsea, theyv'e just won the league title.............we never have.

Even if it all goes tits up after a few seasons at least we will have had a taste of the high life and we'll just be back where we are now.


Bring it on.
Id rather stick pins in my eyes than see any of the above happen! :roll:
User avatar
Matt
Posts: 2832
Joined: Thu Dec 05, 2002 5:20 pm
Contact:

Post by Matt »

Doubting Tomas wrote:Would it be so terrible if ;

the new bloke takes over, Pardew is sacked and most of the current squad released/sold off, a new world class manager and a squad of 20 world class players are brought in, we go on to realistically challenge for the league title for the first time in our history and qualify for the champions league ? West Ham in the Champions league FFS.

Why give a **** if we are called the new Chelsea, theyv'e just won the league title.............we never have.

Even if it all goes tits up after a few seasons at least we will have had a taste of the high life and we'll just be back where we are now.


Bring it on.
But it wouldn't be West Ham, would it? Just a load of mercenaries out to get a medal and a fat paycheck. Yes it would be nice to win things, but I'd like to do it in a way where it felt like an achievement, rather than an expectation after we pay our way up the league.

Incidentally if you think our friendly potential benefactor will fund/can afford 20 world-class players you are dreaming.
User avatar
Derby Hammer
Posts: 1639
Joined: Wed Oct 20, 2004 3:26 pm
Has liked: 21 likes
Total likes: 30 likes

Post by Derby Hammer »

thanks Matt, in which case how do you determine tha value of a share? I'm just wondering how much the value of the shares have increased since before all this take over talk upto today?
User avatar
Gabers218
Posts: 63
Joined: Mon Aug 22, 2005 10:03 am
Location: Used to have more posts than this! ...honest

Post by Gabers218 »

Matt wrote: But it wouldn't be West Ham, would it? Just a load of mercenaries out to get a medal and a fat paycheck. Yes it would be nice to win things, but I'd like to do it in a way where it felt like an achievement, rather than an expectation after we pay our way up the league.

Incidentally if you think our friendly potential benefactor will fund/can afford 20 world-class players you are dreaming.
further to the above as well if it all went tits up after a few seasons we wouldnt be where we are now we would more than likely be where Oldham are instead
User avatar
Gabers218
Posts: 63
Joined: Mon Aug 22, 2005 10:03 am
Location: Used to have more posts than this! ...honest

Post by Gabers218 »

Derby Hammer wrote:thanks Matt, in which case how do you determine tha value of a share? I'm just wondering how much the value of the shares have increased since before all this take over talk upto today?
As they do not trade there is no market so the price will not rise or fall at all mate
Post Reply