Excellent, thank you

Maybe that could be a sticky please?

DD - that makes more sense. So they own 90% of the club (and the new class of shares) but the DT control 50.01% of it. It looks like all existing shareholders are going to go through a share swap, so they will exchange their existing AFCW PLC shares for shares in the is new holding company. Apparently, share reorganisations / swaps and dividends do not disturb a previously valid negligible value claim in AFCW PLC against income (the only thing is the base cost for tax purposes of these new shares would be £nil for CGT if they subsequently managed to sell them). HMRC would not have much grounds to challenge a negligible value claim made 8 years ago and the current proposal would not lend itself to the double-dipping of losses so nothing to be gained now either.

I have to say, that bit of the presentation pack isn't very clearly explained. Also, it could be more clearly explained that AFCW PLC and TWIOF will both be 100% subsidiaries of the new holding company. I wonder if board representation will be the same at holding company and AFCW PLC level (and TWIOF, for that matter, albeit I suspect TWIOF board meetings happen rarely).

Bournemouth beating AC Milan 3-0 isn’t a scoreline I expected to see…

I think their shareholding ramps up from the initial 34% over time. Eventually, their shareholding represents 90% of the shares in the club, so they have a 90% economic interest. If they sell their shares, then they're selling shares representing 90% of the value of the club (but not control). That's my interpretation anyway.

Yeah Im really suprised Nkeng hasn’t even played a minute. Odd! We can buy him back soon !

Ah it was Charlton where Nkeng went and he’s not played a minute of first team football.

They were the Abbey National back then.

We played Real Madrid already in Santander IIRC

Can’t remember where Nkeng went has he disappeared from football?

Will be Wimbledon 4-0 Real Madid in 10 years

Bournemouth 2 AC Milan 0 just sounds so bizarre

Timmy his bio on the presentation says “Played most levels of the pyramid”. He’s played Prem, Champ and L1. I don’t think he’s heard of the CCL or maybe even non-league.

I really don’t remember Bertrand playing for England 19 times and winning champions league with chelski. Better cv than I remember

Are all us minority shareholders in the PLC going to receive 17p per share spread over the next 5 years? Why does that need to happen? I wonder what impact this will have on anybody who made a negligible value claim on their shares years ago and offset the loss against income as all the criteria to do so had been met?

What surprises me the most is why Omar Mir is the only one of the 5 actually putting his hand in his pocket and initially placing £16m onto the table. It’s not a lot of money – so why aren’t the others keen to have a bigger slice of the action. What will keep them motivated?

R Amorim, the well known anagram, is not having a good night on the South Coast

They can sell the 'value' I assume. If such a concept is valid in UK law.

I can’t see any other outcome to this in 2031 than this group owning the club one way or another.

I understand the difference between value and voting rights, share ownership, etc. I'm no doubt being thick here but what does it mean in tangible terms to SSC abd hiw do they realise this value? That's what I don't understand. If they are entitled to 90% of the value but only have 34% of the shares, hiw do they get the other 56%?

Observer status in a board meeting in practice means they get to speak, but just can't vote.

OI - oh. Not a criticism but I can’t imagine he’s your Malcolm Tucker style act

Interested to know whether the new holding company will have Ordinary Shares and "A" Ordinary Shares, in the same way as AFCW PLC has currently, as well as the new class of share capital.

My interpretation (but I may be wrong) is that there will be a new non-voting class of share capital. SSC will eventually own 90% of the totality of shares in the company (i.e. of all the classes added together) but will have voting rights amounting to not more than 49.9%.