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Holdsworth and the lawyers

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1 Holdsworth and the lawyers on Sat Feb 11 2017, 13:08

Sluffy

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Admin
All the information below is taken from information in the public domain so I think I'm fairly safe in re=posing it on here.

As far as I understand it Holdsworth set up not one but three Sports Shield companies -

Sports Shield Ltd - on the 6/1/2015
Sports Shield Investment Ltd - on the 31/7/15
Sports Shield BWFC - on the - on the 9/12/15

And he was sole owner of the shares in them all.

Nothing much at all seems to have happened with the first one and its accounts have just recently fallen into being due - so no news to share with you on this part of his empire.

With 'Investments' a confirmation statement (the accounts to you and me) was filed on the 17th January 2017 - so at least we know it is active and has been audited recently.

The interesting one to me though is Sports Shield BWFC Ltd.

Now it is my understanding (I might be wrong about this but the name of the company does seem to suggest it is focussed on the football club) that this company was the one that entered into the BluMarble deal and received the loan from them which was passed on to the club (or at least £4 million of it was according to the clubs recent accounts).

On the 13th December 2016 a confirmation statement was filed (in which the 'Principal Activity Description' question was answered by the words 'Dormant Company'.

On the 31st January 2017 however a 'Sub-Division of Shares' was filed, which changed Holdsworth single share holding of £1, in to ten shares of 10p each.

The 'Prescribed Particular' of the shares state they have full rights including 'winding up' rights.

I guess all of this is normal of a fashion but the thing that struck my interest was the person who filed the 'Sub-Division' document.

Not the local solicitor or some company specialising in these things but a top notch Lawyer company - Mishcon de Reya LLP - a firm that represented Princess Diana in her divorce and more recently last year the company co-ordinated a challenge in the High Court by Gina Miller, an investment manager and philanthropist, against the process of the United Kingdom's withdrawal from the European Union.

Now what is one of the grandest company of Lawyers in the country bothering itself about filing share subdivisions at a little company that stated it was dormant just the month previous?

I wonder what all this means!



Link to Sports Shield BWFC Ltd at Companies House (see under the heading 'Filing history' for links to pdf's containing the information used above -

[You must be registered and logged in to see this link.]

2 Re: Holdsworth and the lawyers on Sat Feb 11 2017, 14:47

wanderlust

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Nat Lofthouse
Nat Lofthouse
The usual reason to subdivide shares in a mature quoted company (stock split) is to make the shares available to a wider number of investors although the company initially has no change in value. In this case, where the company isn't quoted suggests Deano is readying the company to take on more shareholders. Why this is the case could be for various reasons but the company would have to have a clear plan to substantially increase it's share value and as it's SS BWFC he may be preparing to sell out at a price that considerably exceeds the debt to BM. KA wouldn't pay that in a month of Sundays but if we get promoted and new investors come sniffing around Deano could make a killing and then those split shares would be worth having. Another possible reason is that Deano intends to use SS BWFC as a vehicle for other business deals that we don't yet know about.

3 Re: Holdsworth and the lawyers on Sat Feb 11 2017, 15:16

Sluffy

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Admin
wanderlust wrote:The usual reason to subdivide shares in a mature quoted company (stock split) is to make the shares available to a wider number of investors although the company initially has no change in value. In this case, where the company isn't quoted suggests Deano is readying the company to take on more shareholders. Why this is the case could be for various reasons but the company would have to have a clear plan to substantially increase it's share value and as it's SS BWFC he may be preparing to sell out at a price that considerably exceeds the debt to BM. KA wouldn't pay that in a month of Sundays but if we get promoted and new investors come sniffing around Deano could make a killing and then those split shares would be worth having. Another possible reason is that Deano intends to use SS BWFC as a vehicle for other business deals that we don't yet know about.

You miss my point completely.

It is not about the reasons behind the splitting of the shares - but who submitted the paper work!

Why is one of the top legal companies in the country involved in doing what any number of qualified people and businesses throughout the country do on a daily basis?

Not by sheer chance I would hazard a guess!


4 Re: Holdsworth and the lawyers on Sat Feb 11 2017, 15:40

wanderlust

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Nat Lofthouse
Nat Lofthouse
Deano plays for their 5 a side team?

5 Re: Holdsworth and the lawyers on Sat Feb 11 2017, 19:59

rammywhite

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El Hadji Diouf
El Hadji Diouf
Sluffy wrote:All the information below is taken from information in the public domain so I think I'm fairly safe in re-posting it on here.

As far as I understand it Holdsworth set up not one but three Sports Shield companies -

Sports Shield Ltd - on the 6/1/2015
Sports Shield Investment Ltd - on the 31/7/15
Sports Shield BWFC - on the - on the 9/12/15

And he was sole owner of the shares in them all.

Nothing much at all seems to have happened with the first one and its accounts have just recently fallen into being due - so no news to share with you on this part of his empire.

With 'Investments' a confirmation statement (the accounts to you and me) was filed on the 17th January 2017 - so at least we know it is active and has been audited recently.

The interesting one to me though is Sports Shield BWFC Ltd.

Now it is my understanding (I might be wrong about this but the name of the company does seem to suggest it is focussed on the football club) that this company was the one that entered into the BluMarble deal and received the loan from them which was passed on to the club (or at least £4 million of it was according to the clubs recent accounts).

On the 13th December 2016 a confirmation statement was filed (in which the 'Principal Activity Description' question was answered by the words 'Dormant Company'.

On the 31st January 2017 however a 'Sub-Division of Shares' was filed, which changed Holdsworth single share holding of £1, in to ten shares of 10p each.

The 'Prescribed Particular' of the shares state they have full rights including 'winding up' rights.

I guess all of this is normal of a fashion but the thing that struck my interest was the person who filed the 'Sub-Division' document.

Not the local solicitor or some company specialising in these things but a top notch Lawyer company - Mishcon de Reya LLP - a firm that represented Princess Diana in her divorce and more recently last year the company co-ordinated a challenge in the High Court by Gina Miller, an investment manager and philanthropist, against the process of the United Kingdom's withdrawal from the European Union.

Now what is one of the grandest company of Lawyers in the country bothering itself about filing share subdivisions at a little company that stated it was dormant just the month previous?

I wonder what all this means!



Link to Sports Shield BWFC Ltd at Companies House (see under the heading 'Filing history' for links to pdf's containing the information used above -

[You must be registered and logged in to see this link.]

Two things about this are utterly baffling.
The first is why anyone would use Mishcons to file anything given what they will charge.
The company secretary (or in fact any director) can file such notice as this on line at a cost of about £13.I  file my own Accounts  and that's what I pay. As long as you agree a share split at a properly called AGM or EGM-then notifying the Registrar of Companies  (same thing as filing) it is cheap and quick.
Secondly- why would he do a share split at all? Share splits are done by listed companies when their trading price gets too large and the directors think that they are undervalued-  a share split (also known as a bonus issue) is done to release pent up value in a share price- its all quite technical.
If Holdsworth wanted to get more shareholders on board all he had to do was authorise the company to issue more shares at par value . The shares themselves have no intrinsic value so issuing them at par (or nominal) value would be the easier thing to do. There is plenty of  unissued authorised share capital to issue whenever the company wanted to.
This whole thing gets less clear as time goes on.
What the hell is he up to, or more appropriately what the hell are the people pulling the strings up to?

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