tag:blogger.com,1999:blog-347648412024-03-13T08:47:27.696+00:00Manchester City Supporters' TrustThe Manchester City Supporters' Trust is legally constituted and registered with the Financial Services Authority. Supporters' Trusts are set up to promote and support the concept of democratic supporter ownership and representation through mutual not for profit structures. They are also set up, to promote football clubs as civic and community institutions and work to preserve the competitive values of league football in the United Kingdom and promoting the health of the game.Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.comBlogger289125tag:blogger.com,1999:blog-34764841.post-33024512012228681692007-07-04T18:37:00.000+01:002007-07-04T18:45:58.460+01:00The Takeover: Q & AAfter initially announcing that they were in talks on the morning of the AGM last December, the takeover is finally real, with the offer documentation being received by shareholders last week. We have always made it clear that we could not comment on any bid until the details were known but now we do know, as far as the terms of the offer are concerned, what Dr Thaksin has put on the table.<br /><br />The basic terms of that offer are well known. The bid is being made via a recently formed company called UK Sports Investments Limited (UKSIL). This is owned by another recently formed company called UK Sports Investments Holdings (UKSI). Both companies are controlled by the Shinawatra family and UKSI has provided the money for the bid to UKSIL. <br /><br />40p per share is being offered to shareholders and, at the time of writing, three of the four major shareholders have given irrevocable commitments to UKSIL and the fourth, BSkyB, have agreed to sell their 9.88% holding. Along with other commitments, UKSIL is now believed to be close to having 75% of the shares of Manchester City. The acquiring of the 55.9% of shares originally promised to UKSIL will actually only take place once the level of 75% is reached. Until then, it is effectively an agreement to sell.<br /><br />At the same time, it would appear that Sven Goran Eriksson has been lined up as our new manager but this is also apparently subject to UKSIL getting 75% of Manchester City’s shares. <br /><br />So what are the key issues and the views of the Trust on all this? We have been asked a number of questions about the takeover and will try to answer them as far as we can. We have to make clear that none of the people involved with the Trust are authorised to offer investment advice and that a suitably qualified professional should be consulted where necessary.<br /><br /><strong>Why has this taken so long?</strong><br />The club made an announcement in early December, on the day of the AGM that they were in talks with parties that may or may not lead to an offer. We know that the board had been seeking investment for some time and believe that at least two consortiums had approached the club some time before that announcement and that one had possibly walked away before it was made. So we are still not clear who the actual party or parties were that they were talking to at that time. However, it seems unlikely that it was Dr Thaksin. He came along much later and there is a clear legal and regulatory framework to be followed, all of which takes time. <br />Clearly the club could not move forward without some element of certainty and had said they were making plans for next season, in the event that no bid transpired. However, all parties have left it late, with the squad returning for pre-season in a few days and the bid still not certain of success.<br /><br /><strong>Is 40p a share a good price?</strong><br />The issue of company valuation is extremely complex. There is no single reliable method of valuation but there are some indicators. One is Net Asset Value, which is the value of the company’s assets less its liabilities. In the May 2006 accounts, this figure was just over 70p per share. However, we have had another year end since then and will presumably have made a further significant loss, reducing this figure much closer to the offer price. However football club accounts don’t include the market value of players, plus City value CoMS as though we own it, whereas even though it is a revenue generating asset, we obviously don’t. <br /><br />It also depends on what you paid for your shares. If you paid £1 then it’s clearly a poor return but not if you paid 20p. Many small shareholders bought their shares in order to have part of the club so are not primarily interested in the price.<br /><br /><strong>Why is this 75% figure important? </strong><br />Under normal circumstances, the backing of a simple majority of shares is enough to make decisions. So at the AGM when directors or the auditors are up for re-election, it only takes 50% plus 1 share to carry or defeat these motions. However, to do anything more significant usually requires a special resolution to be passed and this can only usually be done with the support of 75% of the shares.<br /><br />Some of the relevant decisions that would require a special resolution include a proposal to take the company off the stock market and into private ownership and the necessary financial arrangements to formally complete the takeover. So this is why a figure of 75% is usually the point at which the bid becomes unconditional. If that target is not achieved within the offer period then UKSIL can, in theory, walk away from the deal. They could also take what they have and become majority shareholder, with the company remaining as a listed company (unless enough of the minority shareholders agreed to de-list).<br /><br /><strong>What happens if they get 90% of the shares?</strong><br />Once this level is achieved then UKSIL can force any remaining shareholders to sell at the offer price. Then the supporters will have no further stake in the club and it will be totally owned by Dr Thaksin and his company.<br /><br /><strong>And what happens if they don’t get 90%?</strong><br />If the 90% level is not reached then any remaining shareholders will remain as minority shareholders and, with the company de-listed from Plus Market, would find it difficult to sell in future. However, they would still have a stake in the club, which is why many people bought their shares originally. <br /><br /><strong>So will we still have the chance to go to the AGM in this case?</strong><br />This is a good question. Under the recent Companies Act 2006 as far as we understand it, a private limited company won’t have to have an AGM unless it wants to or 10% of the shareholders request it. A public limited company (as Manchester City plc currently is) would have to have one, even if not listed on a recognised stock market. <br /><br />UKSIL has been registered as a private limited company so can avoid the requirement if it chooses to do so. The offer document has also made it clear that Manchester City will be re-registered as a private limited company once the take-over becomes unconditional. So it’s possible that there will be no further AGMs unless either 10% of the remaining shareholders demand it or Manchester City agree to have one voluntarily.<br /><br /><strong>Are we now debt-free?</strong><br />As most people know, there were two main debts. One was the £43m in long-term loans (15 & 25 years) secured on future income. The other was the £19.7m loans from John Wardle & David Makin. The offer document has made it clear that these latter, unsecured loans have been re-assigned not repaid. This presumably means that Manchester City plc now owes UKSIL this money, in return for the £17.5m payment from UKSIL to Messrs Wardle & Makin. <br /><br />In the offer document (Page 63 Paragraph 6.2(a)), there is the interesting information that we were even further in debt than we thought, having borrowed £10m in December 2006 against the Sky payment due in August. It would have been interesting to see the reaction of shareholders to that at the next AGM!<br /><br />Dr Thaksin was asked about the secured loans in his radio interview and intimated that these would have to be kept as they were for the foreseeable future. There may well be very good commercial reasons for doing this. <br /><br />As part of this transaction, UKSI has lent UKSIL £40.6m. This presumably covers the £21.6m for shares and the £17.5 payment for assigning the unsecured loans, plus any costs and other incidental expenses. There is interest on this loan of 11.96% per annum but this will only be payable if UKSIL has sufficient income to do so.<br />Any long-term arrangements won’t become clear until after the take-over has been finalised so it’s currently impossible to answer this question but at this moment it seems that we still owe around £60m, as before, plus the additional £10m.<br /><br /><strong>Can someone else still make a bid? </strong> <br />Potentially yes but this is unlikely as they would need to get over 25% of the shares to stop the UKSIL bid being declared unconditional and it would appear that only 30% at most are uncommitted. <br /><br />So the only way that anyone could possibly get more for their shares is if UKSIL didn’t get 75% and decided to offer a higher price. However, this looks extremely unlikely indeed, so it’s 40p a share, take it or leave it.<br /><br /><strong>Is the Trust happy with Thaksin Shinawatra as Manchester City owner?</strong><br />Much has been written about Dr Thaksin in the media and message boards over the last couple of months and we don’t intend to go over old ground. The Thai military government seems determined to land a killer blow on him but he has not currently been convicted of any offence. It is also clear that the determination of the Thai military government to prove something against him is largely politically motivated. The news that the UK authorities are allegedly talking to the authorities in Thailand about the situation is also worrying.<br /><br />There has also been some speculation that Dr Thaksin will use his ownership of Manchester City to maintain his political profile in Thailand and this is something that worries us. Our club should not be the meat in the sandwich between rival political factions in Thailand. That, and the continued uncertainty about the source of his funds and what action the Thais might or might not be able to take means that, in our view, he represents a potential risk. <br /><br />That’s not to say that these things won’t get resolved and that he couldn’t do a good job for us though. In a culture where “face” is important, he has a huge incentive to make the club successful. He is also undoubtedly a huge fan of English football and appears to have significant financial muscle, which we desperately need. In his recent interview on Radio 5 Live, he won many people over with his measured and intelligent response to the questions asked (although it would have been interesting to hear the questions that he was reluctant to respond to). As a successful politician and businessman, it may be that he possesses the right mix of skills to finally drive the club forward.<br /><br />He has made it clear that he will conduct a full strategic review of the club’s operations before making any changes and, if he does so, we would applaud that wholeheartedly. We have made no secret of the fact that we felt the previous board should have been bigger and stronger and there was room for improvement in the way the club was run commercially. <br /><br />Our timescale for passing judgement is over the next 3-5 years. If in that time we have a successful and entertaining team, an academy at least as strong as the one we have now, a club that is performing well financially and is self sustaining in that respect then the take-over will have achieved the objectives that we have been asking for. The Trust will still continue to ask the questions that we believe need answering and do whatever else we can in order to ensure the club goes in the right direction. We still hope, whoever the owner is, to work with the club, alongside the other supporters’ groups to ensure the interests of our supporters are at the forefront of the club’s agenda.<br /><br /><strong>So, what should we do?</strong><br />The Supporters’ Trust movement believes implicitly that clubs should belong to their supporters and that the fans are the only true custodians of their clubs. However, it would appear that UKSIL will gain the necessary 75% to make the offer unconditional and that we will have a new owner and manager before too long. Many people, whether they have misgivings or not, believe that this is the only way forward for our club and will sell their shares in order to facilitate this as soon as possible. <br /><br />Some people, while recognising that the club is going nowhere without significant investment and a new sense of purpose in the boardroom, still hope that they will be able to retain a minority stake in their club and will hold on as long as possible. Therefore if UKSIL fails to get hold of 90% or more of the shares these fans will have a minority stake in the club. This may mean that they would find it much more difficult to sell their shares in the future and have little hope of influencing events. The Trust, which holds no shares on its own account, would still aim to be an umbrella for those holdings.Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com2tag:blogger.com,1999:blog-34764841.post-88691157948345899352007-06-20T11:52:00.000+01:002007-06-20T11:55:37.247+01:00Clarification of Comments in the GuardianMembers of the Supporters Trust board are actively involved in local supporters groups, organisations and of course keep abreast of the message boards which are open to use by fans of all clubs.<br /> <br />We also receive much feedback and e-mails from our members and subscribers to our blog from where a number of City fans have told us that if it were a three-way choice they would prefer Ramos or Adriaanse ahead of Eriksson. The feedback we received prior to the comments made to the Guardian on Tuesday afternoon indicated that Eriksson would not be the first choice of the majority of City fans we are in contact with.<br /> <br />We understand that both Ramos and Adriaanse have been approached by City directly, but that Eriksson has not. Reports suggest that Eriksson has, however, been interviewed by Thaksin Shinawatra's advisors Seymour Pierce over the past few days with a view to taking the managerial job should the takeover go ahead. It is interesting to note that Athole Still told the BBC that these reports were "total rubbish".<br /> <br />With players returning for pre-season duty in two weeks, it is vital that a manager be appointed with the right experience to take the club forward, something which the ongoing uncertainty over the takeover is impeding.Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com51tag:blogger.com,1999:blog-34764841.post-11346481111333466972007-06-17T16:28:00.000+01:002007-06-17T17:15:02.149+01:00City Share Price Movements (Week Ending 15.6.07)This is the weekly article charting Manchester City Plc's share price movements during the last week. The price doesn't usually move very much and not many shares are usually traded, so you can pick up here at the end of each week our summary of the week gone by.<br /><br />Last week saw a little more share activity than in recent weeks and the share price dropped 5p to close the week at 40p.<br /><br />The week started with Thaksin Shinawatra and his wife having 21 bank accounts frozen. It was unclear if these bank accounts included other family members or associated. In response to those developments, Manchester City Plc confirmed that they were investigating how they may impact on Shinawatra's possible bid for the company.<br /><br />By the end of the week there was no further news on progress although there was an interesting announcement which was picked up by many City supporters but not the media.<br /><br />Anyone following the takeover over the last six or seven weeks, would be aware of Thaksin Shinawatra's Thai lawyer making regular pronouncements about the takeover bid and progress being made. Several times he has mentioned that the takeover should be completed within days or a week etc. Clearly, such pronouncements have not escaped the Takeover Panel's eyes resulting in Thaskin Shinawatra confirming that "Seymour Pierce Limited and Dr Thaksin wish to clarify that Noppadom Pattama is not authorised to speak on behalf of Dr Thaksin on matters governed by the City Code on Takeovers and Mergers and accordingly all of the statement made by Noppadom Pattama should be disregarded." The full announcements can be read <a href="http://www.investegate.co.uk/Article.aspx?id=200706141754434127Y">here</a> & <a href="http://www.investegate.co.uk/Article.aspx?id=200706151802574963Y">here</a>.<br /><br />What lies in store for this week? Who knows but it is becoming clear that something needs to happen soon.<br /><br />Last week:-<br />Finishing price (mid): 38p<br />Bid price: 33p<br />Offer price: 43p<br /><br />Share price movement for the week:-<br />-2p<br /><br />Volume:-<br />11/6 0<br />12/6 0<br />13/6 2,800<br />14/6 0<br />15/6 0<br /><br />Total volume for the week: 2,800<br /><br />All information taken from Plus Markets GroupManchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com3tag:blogger.com,1999:blog-34764841.post-57770891693511535932007-06-13T20:17:00.000+01:002007-06-13T20:19:30.734+01:00Subscribe To The Manchester City Supporters Trust NewsletterIssue 20 of our newsletter will be sent out this weekend.<br /><br />The newsletter covers up and coming articles, gives a bit more of an insight then we publish here on the blog and will cover what we have been doing over the last month or so. You do not need to be a member of the Manchester City Supporters Trust to receive the newsletter. If you want to receive a copy, please e-mail us at <a href="mailto:mcfcsupporters@hotmail.co.uk">mcfcsupporters@hotmail.co.uk</a> and we will add you to the list.Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com0tag:blogger.com,1999:blog-34764841.post-28098590682518389562007-06-12T21:57:00.000+01:002007-06-12T22:01:56.966+01:00Reaction To Recent Takeover DevelopmentsThe news over the last 24 hours that Thaksin Shinawatra has been charged in his home country on five counts of corruption, and had financial assets in Thailand frozen, indicates that the proposed takeover is now in jeopardy of failing. We understand that the deal has just a 50/50 chance of going ahead and that decisions will be made in the next 24 hours with Shinawatra still trying to obtain the full financing.<br /><br />When Manchester City announced on 7 December 2006 that the board were in talks with potential investors, little did anyone realise that six months on the outcome would look like failure from a single bidder. This is hugely disappointing for all concerned, not least the fans and individual shareholders who believed we would be able to attract investment as a number of other premiership clubs have done.<br /><br />Obviously until an announcement by either Shinawatra to go ahead with his bid, or the Manchester City board to withdraw from negotiations, there is no clear picture as to what the next steps will be. Either way, Manchester City needs to press on with appointing a manager and addressing the immediate matters of squad building and the season ahead.<br /><br />We strongly believe that success on and off the pitch requires our Club, the shareholders, the community and most importantly the supporters to pull together as one. The Manchester City Supporters Trust will actively support any investor who shares those views and wants to play their part in a successful all inclusive long term partnership. <br /><br />The Manchester City Supporters Trust must make it very clear that it does not support any current or past bidder for Manchester City Plc. When, or if, a formal bid is made, is the time to assess the suitability of a bidder and their long term plans for our Club. <br /><br />Whatever may happen we continue to strongly believe and encourage shareholders and supporters, who want to play an active and positive part in the future of our Club, to stand up and be counted. Participating does not have to be via the Supporters Trust, it can be via the magnificent supporters clubs or other worthy supporters groups. The most important thing to remember, is that the key to future success lies in the hands of the supporters and shareholders and their active/ positive participation.Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com6tag:blogger.com,1999:blog-34764841.post-8876140856939105672007-06-11T20:00:00.000+01:002007-06-11T20:10:15.291+01:00City Share Price Movements (Week Ending 8.6.07)This is the weekly article charting Manchester City Plc's share price movements during the last week. The price doesn't usually move very much and not many shares are usually traded, so you can pick up here at the end of each week our summary of the week gone by.<br /><br />Last week saw a little more share activity than in recent weeks and the share price dropped 5p to close the week at 40p.<br /><br />Today saw alot of activity and interest in the current situation but for all the wrong reasons. This morning, Thaksin Shinawatra's Thai lawyer confirmed that Shinawatra would apply to the Bank of Thailand to withdraw funds to purchase Manchester City Plc. A few hours later the Thai Government confirmed that they had frozen 21 bank accounts of Thaksin Shinawatra and his wife whilst also confirming that they were seeking a freeze on their worldwide bank accounts.<br /><br />In response to this latest development, Manchester City Plc confirmed that they were investigating how today's developments may impact on Shinawatra's possible bid for the company. Interestingly, Manchester City Plc confirmed that they were still talking to other interested parties. If ever there was a time for the "mystery Americans" to show themselves perhaps it is now?<br /><br />The rest of this week promises to be an interesting one.<br /><br />Last week:-<br />Finishing price (mid): 40p<br />Bid price: 35p<br />Offer price: 45p<br /><br />Share price movement for the week:-<br />-5p<br /><br />Volume:-<br />04/6 3,500<br />05/6 182<br />06/6 0<br />07/6 2,500<br />08/6 10,082<br /><br />Total volume for the week: 16,264<br /><br />All information taken from Plus Markets GroupManchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com1tag:blogger.com,1999:blog-34764841.post-62629927696073583522007-06-03T19:28:00.000+01:002007-06-03T19:37:36.566+01:00City Share Price Movements (Week Ending 1.6.07)This is the weekly article charting Manchester City Plc's share price movements during the last week. The price doesn't usually move very much and not many shares are usually traded, so you can pick up here at the end of each week our summary of the week gone by.<br /><br />Last week saw Ray Ranson formally withdraw his indicative bid for Manchester City Plc but reserving his right to make a bid should any formal bids be forthcoming. <br /><br />Whilst media speculation about Thaksin Shinawatra acquiring Manchester City Plc continues no formal bid has been made. Nothing has been heard from or of the "mystery American consortium" or indeed the other interested party (Manchester Evening News often refers to four interested parties) looking to acquire or invest in Manchester City Plc. <br /><br />Until formal bids are made or additional information issued by the respective parties, share activity/ interest is likely to stay low. Saying that, there was a small amount os shares traded on Friday.<br /><br />Last week:-<br />Finishing price (mid): 45p<br />Bid price: 40p<br />Offer price: 50p<br /><br />Share price movement for the week:-<br />Nil<br /><br />Volume:-<br />28/5 Market closed<br />29/5 0<br />30/5 0<br />31/5 0<br />01/6 4,407<br /><br />Total volume for the week: 4,407<br /><br />All information taken from Plus Markets GroupManchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com3tag:blogger.com,1999:blog-34764841.post-5736537695982909502007-05-31T17:45:00.000+01:002007-05-31T17:53:28.053+01:00FIFA To Toughen Agent GuidelinesShortly after declaring that FIFA needed to deal with four evils being doping, cheating, corruption and racism, Sepp Blatter was re-elected as president for a further four years.<br /><br />Also, at FIFA's annual congress it was announced that player's agents would have to adhere to tougher guidelines. FIFA's Jeu Sprengers told delegates that FIFA wanted to define the role of agents more clearly, restrict the activities of unlicensed agents and limit all agents fees for any deals to three per cent.<br /><br />FIFA currently issues licenses to agents which last indefinitely, but Sprengers said that in future licenses would only be issued for a limited period, with agents having to re-apply after a number of years which have not yet been finalised. "We will also do more to protect under-age players and the role that agents play in their transfers," Sprengers said.<br /><br />Sepp Blatter added "It is not good when agents take so much money out of football, or are able to take money from both clubs when negotiating a deal. A players's agent should be paid by the player -- but taking over 10 per cent from a deal is immoral in my opinion."Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com1tag:blogger.com,1999:blog-34764841.post-61422775246518136102007-05-31T16:36:00.000+01:002007-05-31T16:43:06.849+01:00Uwe Rosler Cult Hero - Your Views Are RequiredWe were recently contacted by Robin a post-graduate student at the University of Brighton. He's doing his dissertation on German players in English professional football. He's looking for views on Uwe Rosler and his e-mail explains it all:-<br /><br />"Dear ManCity fans<br /><br />I am a postgraduate student at the University of Brighton and my MA-dissertation is concerned with fan views on German players in English professional football. At the centre of my research are five players including ManCity's Uwe Rösler (1994-1998) and, of course, Bert Trautmann.<br /><br />It is vital for my thesis to know especially fom the fan's perspective how and why Rösler became a cult figure in Manchester. I found some stuff about Trautmann, but I could not figure out why, when and how Rösler became a City hero.<br /><br />As you maybe remember, he came to the club in March 1994 on loan from Dynamo Dresden. At the beginning of the next season he got a proper contract and was already very popular. Fans created an own song for him which ended at the end of the year in the creation of a special t-shirt saying "Uwe's granddad bombed Old Trafford".<br /><br />I really need to find out how his relationship with ManCity fans started, whether you loved him straight away (maybe because of your positive experience with Trautmann) or because of any special thing that happened. Would be great if you could help in any way (fan contacts, your own experience).<br /><br />If you know people who might be able to tell me their view, please ask them to write to <a href="mailto:germanfootballer@googlemail.com">germanfootballer@googlemail.com</a>. Anyone who answers should, if possible, tell his name, his age, for how long he has been a City supporter and how he follows the team (TV, internet, newspaper, stadium) so that I get an idea of his involvement with the club. I am really desperate and I would appreciate it very much if you could assist me with this problem.<br /><br />Thank you in advance and best regards<br /><br />Robin"Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com15tag:blogger.com,1999:blog-34764841.post-27455896444006761582007-05-30T16:47:00.000+01:002007-05-30T17:34:18.523+01:00A Look At City's ShareholdersLast week we touched on the amount of shares (in percentage terms) a potential bidder for Manchester City Plc would require to gain control of the company all the way to gaining total ownership. The full article can be read <a href="http://mcfcsupporterstrust.blogspot.com/2007/05/takeover-news-bid-information.html">here</a><br /><br />Since then many readers have asked us about the shareholdings in Manchester City Plc. We looked at this all the way back in December.<br /><br />The first four shareholders are well known to most Manchester City supporters and they own (together) 65.71% of the shares. Those four are John Wardle & David Makin who own 29.95%, the Trustees of the S E Boler Settlement (a trust set up by Stephen Boler) who own 18.75%, BSkyB which owns 9.88% and Francis Lee who owns 7.13%.<br /><br />The next ten shareholders (held in individual and nominee names) own 13.38%. In that list includes the late Peter Swales' wife Brenda together with ex-directors David Holt, John Dunkerley and David Bernstein.<br /><br />The remaining shareholders number over 5,000 (we are lead to believe that this figure may be over 6,000 now) and they hold the remaining 20.9% of the issued shares.<br /><br />In summary, only 48.7% of the shareholders are represented on the board of Manchester City Plc with the majority of shareholders not represented.<br /><br />When we looked at the shareholdings six months ago, we did not include Alistair Mackintosh, Dennis Tueart or Bryan Bodek’s shareholdings as being represented on the board and their total shareholding of 55,358 shares represents only 0.1% of the issued shares.<br /><br />During our research we did come across some interesting information taken from the accounts. As at 31 May 1998 Dennis Tueart owned 9,800 shares and as at 31 May 2006 he owned 36,258 shares. As at 31 May 2000 Alistair Mackintosh owned 9,100 shares and as at 31 May 2006 he still owned 9,100 shares. As at 31 May 2002 Bryan Bodek owned 10,000 shares and as at 31 May 2006 he still owned 10,000 shares.<br /><br />As mentioned in our article last week, any potential bidder will need to purchase 75% of the issued shares to be able to de-list the company from Plus Markets, change the memorandum and articles of association and add debt onto the Company a la "Glazer". Loading additional debt onto the Company may also require approval from the secured creditors (the loans secured against future ticket income).<br /><br />If a potential bidder was able to acquire the four biggest shareholders' stakes they will still require just over an additional 9% from the remaining shareholders (the majority of which we can only presume are City supporters) to reach the 75% mark.Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com1tag:blogger.com,1999:blog-34764841.post-68172584242236304872007-05-29T13:03:00.001+01:002007-05-29T13:17:23.746+01:00City Share Price Movements (Week Ending 25.5.07)This is the weekly article charting Manchester City Plc's share price movements during the last week. The price doesn't usually move very much and not many shares are usually traded, so you can pick up here at the end of each week our summary of the week gone by.<br /><br />Last week saw no share activity and consequently no change in share price. Media speculation about the takeover seems to be easing off. <br /><br />Thaksin Shinawatra's Thailand based lawyer claimed several times that a formal bid had been made for Manchester City Plc however, this turned out to be untrue. Plus Markets (the stock exchange) will be informed of all formal takeover bids which they will then confirm via Plus Markets. At the time of writing, no such announcement has been made and until such time bid speculation is just that, speculation. <br /><br />Thaksin Shinawatra's Thailand based lawyer's continued comments to the media could be a breach of the Takeover Code (the rules that apply to takeovers). Whether the Takeover Panel are looking at his announcements remains to be seen.<br /><br />Last week:-<br />Finishing price (mid): 45p<br />Bid price: 40p<br />Offer price: 50p<br /><br />Share price movement for the week:-<br />Nil<br /><br />Volume:-<br />21/5 0<br />22/5 0<br />23/5 0<br />24/5 0<br />25/5 0<br /><br />Total volume for the week: 0<br /><br />All information taken from Plus Markets GroupManchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com0tag:blogger.com,1999:blog-34764841.post-46728370496656134342007-05-26T14:36:00.000+01:002007-05-26T14:38:28.520+01:00City Takeover Could Take Months Not DaysThere are various rules to observe in a takeover of a quoted company and these set out various steps to be followed and the possible timelines associated with each step.<br /><br />The first stage will be the formal offer to the board of the offeree company (the one being taken over) by the offeror (the one doing the takeover). This will be publicised via an announcement to the relevant stock exchange. <br /><br />The next stage involves the production and sending out of the formal offer document to all shareholders. This is a comprehensive document covering all aspects of the offer for the target company. The requirement is that this must be sent out within 28 days of the formal offer.<br /><br />The offer document will set out various things but these will usually include two key things;<br /><br />1) The length of time that the shareholders have to respond. This has to be a minimum of 21 days.<br /><br />2) The criteria for the bid to succeed. Generally this will be conditional on acceptance by either 50.1% or 75% of shareholders. If this level isn’t met then the offeror can walk away from the deal.<br /><br />So after the minimum 21 days, the offeror will know what proportion of the shareholding they have received acceptances for. If they haven’t reached their target then they can extend the offer period by making an improved offer. They are allowed to extend the original offer period up to 60 (or possibly 70) days but can extend it further with Takeover Panel approval. <br /><br />At the end of the period, they will count up the acceptances and, if they’ve reached their target, will declare the offer “unconditional”. Any remaining undecided shareholders will then have 14 days to accept or reject the offer. If they haven’t reached the required threshold then the deal is off.<br /><br />So it’s entirely possible that the whole proceedings could take two months or even longer, from offer to finalisation. If all timescales run to the maximum allowable then it could be close to four months.<br /><br />However, someone else could also bid and, in this case, the timeline is set back to day 1. So the rival bidder then has to make an announcement and the same considerations apply. So the whole thing could actually drag on for quite some time. <br /><br />If the deal is for the 29.95% held by John Wardle & David Makin, then this can be done quickly as it is a simple sale of shares and doesn’t trigger a mandatory offer, although there is nothing to stop a bidder from making a wider offer, as described above. However only buying this shareholding will not make anyone owner of the club, merely the largest shareholder.<br /><br />So the idea that a deal to buy the club could be done quickly is unfortunately somewhat wide of the mark.Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com11tag:blogger.com,1999:blog-34764841.post-61325424890995880112007-05-25T19:21:00.000+01:002007-05-25T19:24:57.186+01:00City Pull Plug On Inside MCFCIt was very disappointing to find out this week that Manchester City Football Club had decided not to continue with Channel M’s Inside MCFC TV programme. We understand that whilst Channel M were very keen to continue the weekly show and covering all costs associated with its production, our Club decided to pull the plug after one season.<br /><br />Inside MCFC provided a great mix of interviews with the manager, coaches, players and former players, previews and reviews of first team matches, highlights of reserve matches and much much more. For those supporters that didn’t see the programmes first time around there was and still is the ability to download episodes to watch again via their website <a href="http://www.channelm.co.uk/programmes/index/0/27/inside_mcfc.html">http://www.channelm.co.uk/programmes/index/0/27/inside_mcfc.html</a><br /><br />Our Club is not awash with cash for expensive ventures and it is a real shame that Inside MCFC has finished. The programme played its part in providing our Club with increased TV exposure and accessibility to its supporters wherever they are based in the world. Next time you want to watch a reserve match again or catch an interview with a former player on the TV, you might think back to when we had Inside MCFC.<br /><br />David Johnson, General Manager of Channel M spoke to the Manchester City Supporters Trust "'Inside MCFC was a flagship show for Channel M and understandably the production team are disappointed not to be involved with a second series. However, Channel M and City are parting very amicably so we will still be featuring all the main Man City stories on the live news and breakfast shows. Manchester City will also have a large slice of airtime in our new football documentary programme - The History of Football in Manchester, available towards the end of June on Channel M and <a title="http://www.channelm.co.uk/" href="http://www.channelm.co.uk/">www.channelm.co.uk</a>".Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com10tag:blogger.com,1999:blog-34764841.post-50870375661190539512007-05-24T19:39:00.001+01:002007-05-24T20:14:45.975+01:00Takeover News & Bid InformationLast Saturday, 19 May 2007, Thakin Shinawatra's lawyer Noppadon Pattama said "What I can say now is we have tendered a bid for the team. We had to be silent because we had to follow the stock regulations as we are trying to buy a listed company" he added "The deal is not formally or legally concluded yet". Pattama also gave quotes to other Far East media saying "Thaksin has officially submitted his bid to buy the football club. There is no any official conclusion yet at this moment, but everything is proceeding well, by the end of this month, everything will be clear."<br /><br />A matter of hours after Pattama's comments, the English media reported that Manchester City officials had confirmed that they remained in talks with several parties with reference to a potential takeover bid and suggested that City were unaware of a formal bid being made.<br /><br />Two days later, on 21 May 2007, Noppadon Pattama confirmed that a formal bid had not been made but did say "The formal bid will be made in the next few days and we hope to get a decision by the end of the month". As of today, 24 May 2007, there have been no announcements by the Plus Markets (stock exchange) that a formal bid has been made for Manchester City Plc. Perhaps we can take what Noppadon Pattama says with a pinch of salt?<br /><br />Since Noppadon Pattama's claims to the media, Wolverhampton Wanderers have been taken over by multi-millionaire Steve Morgan and reclusive billionaire Mike Ashley has acquired 41.6% of Newcastle United, launching a bid in the process.<br /><br />The takeover bid for Newcastle United serves as a reminder to us all that if or when a formal bid is made for Manchester City Plc certain amounts of shares are required to achieve various milestones, for example:-<br /><br />1) If an investor acquires 30% or more of a company then they must make a formal bid for the rest of the shares at the price they paid for them<br />2) If an investor acquires 50.1% then they will effectively have control of the company<br />3) If an investor acquires 75% they will be able to de-list the company from whichever stock exchange it is registered on<br />4) If an investor acquires 90% they will be able to forcibly acquire the remaining shares, thereby gain full ownership of the company<br /><br />There is something else to consider and that is for the majority of companies when you acquire 75% of the shares you will not require the approval of shareholders to undertake transactions. In practice that would mean that, like the Glazers' takeover of the Club down the road, when 75% of the shares are owned debt could be transferred to the company. Also, with 75% of the shares owned changes could be made to the memorandum and articles of association.<br /><br />Going back to Newcastle United, it is clear that Mike Ashley's bid has taken Freddy Shepherd by surprise. Freddy Shepherd owns 29.8% so without acquiring these shares Mike Ashley will not get to the 75% milestone. It will be interesting to see how the takeover bid for Newcastle United pans out.Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com19tag:blogger.com,1999:blog-34764841.post-77817434863784173732007-05-23T17:00:00.000+01:002007-05-27T09:18:37.135+01:00Falling Attendances – A Post-Season UpdateIn February, we wrote an article in response to a comment by Alistair Mackintosh in a Guardian article. He said that falling attendances was clearly a challenge for the whole of football and that fans have been turned off by inconvenient kick-off times, poor-quality football and the fact that matches can be watched live, for free, in pubs.<br /><br />The article went on to say “They (the club) accept, though, that outside the top few and the excited newly promoted sides, the remaining Premier League clubs are struggling to maintain crowds paying high prices for the commercialised football experience”.<br /><br />Having examined the figures, it was clear that some teams outside the top four had actually increased their attendances although, barring Arsenal & Manchester United (who had both increased their ground capacity) there was a small decrease overall. Four teams had suffered significant decreases though and we were the worst affected, with an average attendance down nearly 4,000.<br /><br />Now we’ve reached the end of the season, we’ve looked at the final figures. These exclude the promoted teams (as there is no proper comparison) and Manchester United and Arsenal, in order to aid like-for-like analysis. The figures are taken from ESPN Soccernet again.<br /><br /><a href="http://soccernet.espn.go.com/stats/attendance?league=eng.1&year=2006&cc=5739">http://soccernet.espn.go.com/stats/attendance?league=eng.1&year=2006&cc=5739</a><br /><br />Surprisingly, out of the 15 teams analysed, Aston Villa, Fulham, West Ham, Blackburn & Portsmouth all showed an increase in their average attendance compared to 2005/06. Charlton stayed level while Spurs, Chelsea & Everton showed a fall of less than 500. Liverpool lost 675 and Boro 734. As in the last article, four teams showed significant falls. These were Newcastle, Bolton, Wigan and Manchester City. However, Newcastle was a small percentage compared to their overall attendance level so it’s really only the last three teams that showed significant percentage falls.<br /><br />Once again, we had the biggest numerical fall although home games against Liverpool, Chelsea and the Salford Buccaneers helped to offset the figure of nearly 4,000 in February down to 2,859. Wigan showed a numerical fall of 2,452, which translated to 11.9% in percentage terms and Bolton’s fall was 1,849 (7.3%). All three clubs took some sort of action for next season. Bolton and Wigan reduced ticket prices across the board and of course Manchester City introduced the £95 Junior season card. By all accounts this has sold phenomenally well, as you would hope, but how many of these were new sales as opposed to renewals at the lower price?<br /><br />If we look at the number of empty seats then Blackburn top the list, with over 10,000 empty seats per game on average; a truly shocking figure. As a consequence, Rovers made swingeing cuts in the price of season tickets. Boro were next, with 7,320 empty seats per game on average and we were just behind with 7,200. Bolton and Aston Villa both had over 6,000 empty seats per game.<br /><br />As at the April deadline, it is believed that season ticket sales were down by about 25% at around 20,000. But we don’t know how accurate that figure is as the club hasn’t actually told us.<br /><br />Since the move we had been able to boast the third highest average attendances in the Premiership but this season finds us in sixth place overall. Arsenal have moved to the Emirates so that was an unavoidable occurrence but we now find ourselves behind Liverpool & Chelsea. Next season, if the trend continues, we may fall even further, with Everton, Villa and Spurs overtaking us, as well as possibly newly-promoted Sunderland. Of course, since the end of the season, Stuart Pearce has left and we may be taken over so what impact that may have remains to be seen. We would all obviously love to watch City in a full and noisy stadium.Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com7tag:blogger.com,1999:blog-34764841.post-21026240800327064972007-05-20T14:01:00.000+01:002007-05-20T14:44:11.724+01:00City Share Price Movements (Week Ending 18.5.07)This is the weekly article charting Manchester City Plc's share price movements during the last week. The price doesn't usually move very much and not many shares are usually traded, so you can pick up here at the end of each week our summary of the week gone by.<br /><br />The week just gone, saw Stuart Pearce and other backroom staff fired plus plenty of speculation with reference to a potential bid being made. Thaksin Shinawatra's Thailand based lawyer claimed that a formal bid had been made for Manchester City Plc however, some hours later it would appear that Manchester City Plc denied this claiming that they were still in talks with several parties. When Plus Markets opens for tomorrow we will know if a bid has been lodged or not and Manchester City Plc may be forced to make an announcement themselves following Thaksin's lawyer's claims. This week could be a busy one, on many fronts.<br /><br />Last week:-<br />Finishing price (mid): 45p<br />Bid price: 40p<br />Offer price: 50p<br /><br />Share price movement for the week:-<br />+3p<br /><br />Volume:-<br />14/5 0<br />15/5 1,000<br />16/5 384<br />17/5 0<br />18/5 2,909<br /><br />Total volume for the week: 4,293<br /><br />All information taken from Plus Markets GroupManchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com0tag:blogger.com,1999:blog-34764841.post-3213065154068941402007-05-19T07:52:00.000+01:002007-05-19T08:20:02.593+01:00Shinawatra Makes Bid - Reports From The Far EastAbout half an hour ago, Reuters in Bangkok reported that Thaksin Shinawatra had made a formal bid for Manchester City Plc. Thaksin's lawyer commented "What I can say now is we have tendered a bid for the team.". Reuters also reported that the takeover plan involved putting four Thai businessmen on the board of our Club and using our Club's reserve team for Thai national players.<br /><br />Questions over who the four Thai businessmen are, how plans for using Thai players may affect our pipeline of young talent and what Thaksin Shinawatra's plans are for our Club cannot be answered until full details of the bid are known.<br /><br />Shinawatra is facing corruption charges in Thailand and reports today suggest that his assets are in danger of being frozen. How this may affect a bid for our Club or his future plans remains to be seen.<br /><br />Shinwatra has in the past attempted to purchase or invest in Liverpool and Fulham. After Liverpool turned his offer down he was reported to have entered into discussions with Everton.<br /><br />It is vitally important that the shareholders and supporters of Manchester City hear from Shinawatra why he wants to buy our Club, what his plans are and how the current action being taken against him may have an impact on his plans for our Club both now and in the future.Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com16tag:blogger.com,1999:blog-34764841.post-80156191763190253932007-05-17T22:55:00.000+01:002007-05-17T23:02:42.177+01:00Takeover Due Diligence Being UndertakenWe keep hearing and reading that the parties interested in lodging a formal bid for Manchester City Plc are undertaking due diligence and many supporters have contacted us asking us what it actually is. Due diligence can mean different things to different companies; however, for the purpose of this article we will be looking at due diligence in terms of acquiring a business. This article by no means attempts to be comprehensive, it is simply meant to give an overview.<br /><br />Before making an offer for any business, a process of evaluation should be undertaken on the business being considered for purchase. This evaluation process is called due diligence and once completed should give the prospective buyer sufficient information to enable them to make an offer for the business or decide not to proceed.<br /><br />Reports indicate that Thaksin Shinawatra’s advisors are undertaking due diligence on Manchester City Plc but it is unclear whether Ray Ranson has been given permission to do this; although he may have been provided with basic information. The “mystery Americans” do not appear to have undertaken any due diligence but could also have been provided with basic information.<br /><br />Some of the areas due diligence might cover are-<br /><br />1) A review of the industry (football) and the company’s place in it – is the market growing or shrinking? In respect of the target company, what are its strengths, weaknesses, opportunities and threats? What is the company’s general standing and reputation? What is the nature and extent of competition<br /><br />2) Ownership – capital structure and voting rights; disposition of shares.<br /><br />3) Directors – names, ages, length of service.<br /><br />4) Management and employees – quality of management; ages qualifications and contractual terms of key managers and employees; staff turnover etc.<br /><br />5) Financial performance (over the last few years) – turnover and profit trends; liquidity / cash flow trends; capital expenditure (player purchases); accounting policies and any audit recommendations; level’s of debt. The latest management accounts and budgets , forecasts and business plans are likely to be reviewed and an audit of the accounting records may also be undertaken.<br /><br />6) Revenue – a review of the main income streams and distribution channels and any associated contracts, future projections, overseas expansion, research and development.<br /><br />7) Assets – a comprehensive review of all assets (possibly including independent valuations of property), depreciation costs.<br /><br />8) Liabilities – all loans, credit agreements, leases and their terms, expenditure commitments.<br /><br />9) Treasury – review of all cash assets, banking relationships, credit lines.<br /><br />10) Culture – review of the company’s style of management, business practices, decision-making processes, command structure etc<br /><br />11) Risk management – review strategies to mitigate risk, insurance policies, contingent liabilities (litigation threats).<br /><br />The process of buying a company often involves numerous professional advisers, such as: merchant bankers, clearing banks, stockbrokers, accountants, surveyors, insurance brokers, lawyers and tax consultants<br /><br />This article is far from comprehensive but is meant to give you a brief flavour of the areas that would be reviewed which might go some way to explain how the due diligence process could take some time to complete. Of course there is no guarantee that at the end of it the bidder will make an offer for the company but they should have a very good idea about the company, its financial standing and future prospects.Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com1tag:blogger.com,1999:blog-34764841.post-49600544478073804882007-05-17T20:34:00.000+01:002007-05-17T20:45:27.191+01:00Official Supporters Club New & Improved WebsiteThe MCFC Official Supporters Club was formed in 1949 and has over 70 Branches with a total membership of just under 6,000 based in the UK and Overseas.<br /><br />We've had a link to their website on the blog for some time and recently noticed that it was in the process of being updated. The new and improved website is up and running, if you haven't visited recently or want to find out more, a link is <a href="http://www.mcfcosc.com/">here</a> and a permanent link is on the right hand side of the blog.Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com0tag:blogger.com,1999:blog-34764841.post-2749800268334712572007-05-16T22:32:00.000+01:002007-05-16T22:36:12.903+01:00Supporters' Trust Has Future Whatever HappensA number of supporters have asked us if the Manchester City Supporters' Trust will continue in the event of a takeover. Our answer is that chairmen, directors, managers and players come and go but the supporters will always be there. Therefore, the Manchester City Supporters’ Trust will continue no matter what may or may not happen.<br /><br />Five of our fellow clubs in the Deloitte “Rich List” are supporter owned and another five have supporters’ trusts. So nothing has changed and we are still working towards establishing a successful supporters’ trust at Manchester City.<br /><br />Keep watching this space for further news.Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com10tag:blogger.com,1999:blog-34764841.post-17977429364301367502007-05-16T20:03:00.000+01:002007-05-16T20:37:20.292+01:00City's Big Success StoryFollowing Manchester City is a rollercoaster ride full of ups, downs, twists and turns. Coaching team departures, new manager speculation, player departures, players coming in, a player arrest, agent talk, transfer kitty promises, takeover speculation, corruption charges and much "smoke and mirrors" (which we have now come to expect with City) have littered the last few weeks or so. No wonder a media frenzy surrounds City and it will probably continue like that for some time.<br /><br />Away from the current media circus there is something to be very proud of, something that has underpinned a large part of City for some time now, something that is the envy of many, something that is a big success story; that something is the Manchester City Football Club Academy.<br /><br />In previous articles we commented that "Our Club’s academy is one of the success stories producing more quality players than most academies in the land and that is a credit to our Club, Jim Cassell and his team." Where our Club would be without the academy no one knows but we could all have a good guess.<br /><br />It is no secret that when our Club slipped into football's third tier Jim Cassell presented a fifty one page dosier outlining the faults of City's existing set-up and proposed a way forward with a new academy. David Bernstein backed Cassell's vision to the tune of £500,000 and almost nine years on, many feel that it was our Club's best investment.<br /><br />It's always great to see positive stories about our Club none so then over the last few days. The Times started the week with a good story on <a href="http://www.timesonline.co.uk/tol/sport/football/premiership/manchester_city/article1785042.ece">Daniel Sturridge</a> and today BBC Online ran a story on the academy whilst interviewing <a href="http://news.bbc.co.uk/sport2/hi/football/teams/m/man_city/6638039.stm">Ismael Miller</a> in the process.<br /><br />And finally, our Club confirmed that six youngsters had stepped off the Academy production line and <a href="http://www.mcfc.co.uk/default.sps?pagegid={DBD12D53-8346-431D-A04F-5D0F8664DE80}&newsid=428121">signed professional contracts</a>.Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com2tag:blogger.com,1999:blog-34764841.post-67372396235758512842007-05-14T19:17:00.000+01:002007-05-14T19:40:58.329+01:00Le Coq Sportif Confirmed As New Kit Supplier<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWOc3maeRP-z5FeXX1QLQUdi05bpDfm8wA6lRDXLd9jjVui6ATCGSJepH-VGSGOzKUwniSMrv4-XqdqIaACoLdnX74b8zBUlqdV_SouD36IdGO7zhZnaS7kC8WMcpqL_HubQqP/s1600-h/citykit.jpg"><img id="BLOGGER_PHOTO_ID_5064483433839914930" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 275px; CURSOR: hand; HEIGHT: 188px" height="213" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWOc3maeRP-z5FeXX1QLQUdi05bpDfm8wA6lRDXLd9jjVui6ATCGSJepH-VGSGOzKUwniSMrv4-XqdqIaACoLdnX74b8zBUlqdV_SouD36IdGO7zhZnaS7kC8WMcpqL_HubQqP/s320/citykit.jpg" width="275" border="0" /></a>As had been reported for quite some time in the media, on the messageboards and by sportswear chains, our Club today announced that Le Coq Sportif would be the new official kit supplier, after entering into a four year agreement worth a reported £10m.<br /><br />The new agreement appears to be a good deal at double the value of the current agreement with the outgoing Reebok.<br /><br />In addition, it was also confirmed that, as part of the agreement fashion brands Sergio Tacchini and Ecko would be supplied to the Club's players and available to supporters. It was also confirmed that Reebok City would be renamed Citystore.<br /><br />In a good move for supporters, it was announced that the new kit would be competitively priced, so much so that it would be the best priced in the Premiership with adult shirts on sale for £30 and junior shirts on sale for £19.<br /><br />What do you think?Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com14tag:blogger.com,1999:blog-34764841.post-79140632457726622792007-05-13T22:14:00.000+01:002007-05-13T22:25:26.543+01:00Schalke - Supporter Owned Club Close To German TitlePrior to the Manchester City Supporters Trust being formed we published an article about some of the top clubs in the world either being supporter owned or having an active supporters' trust. At that time ten of the world's top twenty clubs fell into that category including Barcelona, Real Madrid, Bayern Munich and Arsenal. You can read again the full article <a href="http://mcfcsupporterstrust.blogspot.com/2007/03/supporters-trusts-in-premiership-and.html">here</a><br /><br />The popular German football Club Schalke are currently the 14th largest club in the world and is also supporter owned. They are tantalisingly close to winning the Bundesliga for the first time in 49 years however, their loss this weekend could be the proverbial "spanner in the works". Anna Kessel from the Guardian wrote an excellent article on them and how they run their club, please take the time to read it <a href="http://blogs.guardian.co.uk/sport/2007/05/13/145000_see_german_newcastle_bl.html">here</a>Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com0tag:blogger.com,1999:blog-34764841.post-79149185220666187802007-05-13T20:32:00.000+01:002007-05-13T20:53:44.071+01:00Charity Race Night For Injured SupporterManchester City fan, Chris Faulkner, suffered a fractured skull on Derby Day and his life was saved by a police officer. Chris lost much blood and underwent brain surgery during which he had part of his skull removed. He has to have another operation to have a steel plate fitted and will be off work for a long time.<br /><br />Chris and his family have understandably gone through a torrid time and the injury will have lasting effects for Chris who will no longer be able to play sport or fly. Chris is a huge character at his local Prestwich & Whitefield Supporters Branch and Prestwich & Whitefield's very own Don Price is organising a race night for Chris' benefit this Saturday 19 May.<br /><br />It is hoped that Chris will be attending this event. All City supporters and their families are welcome at the event, the full details of which are below:-<br /><br />Date: Saturday 19 May 2007<br /><br />Venue: Our Ladies Of Grace Social Club<br />Fairfax Road<br />Prestwich<br />Manchester<br /><br />Time Of First Race: 6:30pm<br /><br />For further details on this very worthy event please contact Don on <a href="mailto:cathdon.price@virgin.net">cathdon.price@virgin.net</a> If you are unable to attend but want to make a donation please e-mail Don for details.<br /><br />We hope this event is a great success and wish Chris and his family well for the future.Manchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com1tag:blogger.com,1999:blog-34764841.post-71857916497952249072007-05-13T10:20:00.000+01:002007-05-13T10:25:32.141+01:00City Share Price Movements (Week Ending 11.5.07)This is the weekly article charting Manchester City Plc's share price movements during the last week. The price doesn't usually move very much and not many shares are usually traded, so you can pick up here at the end of each week our summary of the week gone by.<br /><br />In the absence of any real news concerning potential bids there was no real interest/ activity in the shares last week. <br /><br />Last week:-<br />Finishing price (mid): 42p<br />Bid price: 37p<br />Offer price: 47p<br /><br />Share price movement for the week:-<br />Nil<br /><br />Volume:-<br />07/5 Market closed<br />08/5 0<br />09/5 221<br />10/5 484<br />11/5 416<br /><br />Total volume for the week: 1,121<br /><br />All information taken from Plus Markets GroupManchester City Supporters' Trusthttp://www.blogger.com/profile/05455261571158588391noreply@blogger.com0