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Post by Brooksiders Return!! on Feb 8, 2018 14:14:31 GMT
Well this is interesting - a document has been lodged at Companies House, which dates back to 2004 when, by resolution, the share capital was increased from 200,000 to 300,000. Firstly, its surprising that this was never lodged back in 2005, but secondly, an increase in share capital requires a special resolution to be voted through, with a 75% majority, if the companies Articles specifically states that this is the case. Our Articles specifically states that this should be the case.
There is no mention of any resolution being passed in the annual accounts from 2005, so does anyone remember if this was voted through at an AGM around this time?
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Post by alwaysnextyear on Feb 8, 2018 15:13:21 GMT
I had noticed that as well. Presumably you are also keeping an eye out for the accounts ended 31.05.17 to appear ( by the end of Feb 18 ). Can't wait to see why Anthony shouldn't be criticised !
Seems very odd to lodge it now, although I had noted the share capital increase had been stated in the accounts for year ending 31.05.05, when I went back through all the documents lodged at Companies House.
The previous increase was on 11.01.2000, when the share capital was increased from 100 k to 200 k.
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Post by Brooksiders Return!! on Feb 8, 2018 15:41:44 GMT
I'm thinking that they are looking at raising share capital, in order to attract investment. Well, I'm looking forward to the EGM to vote on that resolution!
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Fred
Reserve Teamer
Posts: 129
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Post by Fred on Feb 8, 2018 17:52:23 GMT
Or perhaps the then company secretary had not uploaded the latest article. It is dated 2004
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Post by Brooksiders Return!! on Feb 8, 2018 18:54:01 GMT
And it has suddenly manifested itself now? at a time when the company don't even have a company secretary? Well yes its possible, but why not post the accounts too? After all they've been prepared since last May !
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Post by Brooksiders Return!! on Feb 9, 2018 9:07:23 GMT
What is also interesting is that the share capital was increased from 200,000 to 300,000 in 2004, yet it still only stands at less than 160,000 allocated. And Hampson has stated on a number of occasions, the reason why he won't change the constitution is that share capital is the instrument for investment in the business. I think they flogged around £1500 last year. Hampson has averaged around £1500 investment whilst he has been Chairman of the business. Is he really beyond criticism?
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Post by alwaysnextyear on Feb 9, 2018 10:38:18 GMT
No he's not. He's continued to hang his baseball cap on a business model which has failed miserably, yet carries on regardless.
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