New Statement on DROS

[Dagenham Rover]

confirming JR has resigned as Chairman and  as a Director

http://www.doncasterroversfc.co.uk/news/article/club-statement-jr-not-director-1173223.aspx

[PDX_Rover]

Well that clears that up. The bed has been made. The question now: What happens to JR's shares. I believe he cannot sell them to a third party without the blessing of the KM2, and does he have to offer those to the KM2 in the first instance, assuming he wants to sell them, which he was seemingly willing to do to Sequentia?

[Muttley]

I've got a vague recollection that SM said that there was no requirement to offer the shares to the other shareholders first, but I could be mistaken.

[FilanDivorce]

So what was with yesterdays statement then? 

[PDX_Rover]

Maybe it wasn't clear in JR's letter of resignation exactly what he was doing. Perhaps it was written on the back of a beermat on the way to Oakwell? Who knows? Or maybe JR's changing things around to make the club look stupid. Or maybe the media department messed up in what they issued. Would not be the first time that the media department has made a booboo would it? Trying to cover all bases.

[steve@dcfd]

Well that clears that up. The bed has been made. The question now: What happens to JR's shares. I believe he cannot sell them to a third party without the blessing of the KM2, and does he have to offer those to the KM2 in the first instance, assuming he wants to sell them, which he was seemingly willing to do to Sequentia?

Now it's been agreed to pay the money up front, all the owners in due course will be selling to Sequentia. Won't they.

[RobTheRover]

Who has agreed to pay the money up front, Steve?  SC?

I've not seen anything that stated that.

[steve@dcfd]

TB said in his Radio Sheffield interview that SC had come back and agreed to pay money up front instead of over 3 to 5 years. JR also said that in an interview on Monday.

[PDX_Rover]

Doesn't mean it will be accepted though does it?

[djoftherovers1]

Tb said hes ready to accept sc offer at the current terms. And in the first interview jr did he said he was standing down fully, this was dros who got it wrong.

[roverssam1879]

Tb said hes ready to accept sc offer at the current terms. And in the first interview jr did he said he was standing down fully, this was dros who got it wrong.

DROS getting it wrong!? surely not, normal practise is to delay the news report for at least 2-5 weeks before publishing anything. I can only assume it is to ensure they check the spelling over and over and over and over...

[DRFCSouth]

Surprised they managed to stay open to release the statement. The club shop had to close the other week for a stock take, news worthy of releasing on the site.

[roverssam1879]

Surprised they managed to stay open to release the statement. The club shop had to close the other week for a stock take, news worthy of releasing on the site.

Hahaha

Damn I missed that piece!.... always miss the good stuff

[Lifelong supporter]

Tb said hes ready to accept sc offer at the current terms. And in the first interview jr did he said he was standing down fully, this was dros who got it wrong.

DROS getting it wrong!? surely not, normal practise is to delay the news report for at least 2-5 weeks before publishing anything. I can only assume it is to ensure they check the spelling over and over and over and over...

DROS has been a shambles recently, especially the statements they've put up and then taken down over JR's departure.
Apparently they are using TB's PR agency having demoted Uttley and appointed a new communications manager who you would have thought should be up to the task.

[DRNaith]

Tb said hes ready to accept sc offer at the current terms. And in the first interview jr did he said he was standing down fully, this was dros who got it wrong.

DROS getting it wrong!? surely not, normal practise is to delay the news report for at least 2-5 weeks before publishing anything. I can only assume it is to ensure they check the spelling over and over and over and over...

DROS has been a shambles recently, especially the statements they've put up and then taken down over JR's departure.
Apparently they are using TB's PR agency having demoted Uttley and appointed a new communications manager who you would have thought should be up to the task.

Sometimes you can only be as good as the information you're getting.  We have no idea what the club was told do we?

[graingrover]

It was reported ( through JR) that Sequentia had offered £8 million up front . However from the last published accounts of the club the total of shareholders loans and paid up capital was £ 9 million . To that you would have to add a premium , assuming the club was to be sold and some profit realised . THEN what?