***Official Takeover Talk Thread***

[GM]

Hmm, I wonder who instigated that report.

 

Exact same thought crossed my mind too.

 

Damn, we're all SO cynical!

[Guest sunderlandsuck]

Claims could rock Toon bid

By Neil Farrington and Sarah Robertson, The Sunday Sun

 

The Sunday Sun today sheds light on the would-be buyers of Newcastle United and the multi-million-pound collapse of a series of internet companies.

 

Belgravia Group Ltd, a Jersey company, is expected to launch a £150m-plus bid for the Premiership side in the new year.

 

We have uncovered documents which show that Belgravia's sister company, based in Gibraltar, was the majority shareholder of Unofon Group Ltd, whose failure sent shockwaves through Norway.

 

Dubbed the Unofon Scandal by newspapers there, it resulted in . . .

 

• Scores of workers being left unpaid despite a court order they receive their wages
   
  
• 135,000 disappointed customers
   
  
• A probe into why millions of pounds from the coffers of the doomed companies ended up in Jersey bank accounts
   
  
• And the near collapse of the Unofon-sponsored Norwegian Speed Skating federation.

 

A team of lawyers appointed by the Norway government is carrying out an investigation into the matter.

 

We have a document that says Belgravia Group Ltd, Gibraltar, owned 57.5 per cent of shares in Unofon.

 

The Belgravia Group, of Jersey, has launched the bid for Newcastle United. It is wholly owned by Eagle Holdings Ltd, of the Cayman Islands, which also owns 85pc of the shares in the Gibraltar company.

 

Duncan Hickman is a director of this company and Ron Mitchell a shareholder. They are fronting Belgravia Group Jersey's Newcastle United bid.

 

When a month ago we first approached Belgravia Group Ltd for comment about the Unofon scandal, its lawyer, Clive Sutton, told us: "Belgravia Group Limited had not been a shareholder of Unofon Group Limited at any time."

 

The company's spokesman, John West, said: "Belgravia also confirms that it had talks with Unofon and reached an agreement, subject to due diligence, to buy a significant stake in the business.

 

"During its due diligence on Unofon, Belgravia discovered a number of issues of concern, which resulted in them immediately withdrawing from the agreement.

 

"From our point of view, I think some people have spotted that we are a Jersey- registered company and Unofon is a Jersey-registered company and put two and two together and come up with five."

 

Mr Sutton then sent us what he claimed was Unofon's annual company return for 2005, which he stated was "conclusive in support of the same point".

 

It said that Unofon was wholly owned by Baim Ltd, but the document we received from the Jersey companies registry was marked "amended copy".

 

And the registry only received that document on November 22, 2006 . . . coincidentally the very day we asked Mr Sutton for documents to back his claims.

 

After further investigation, we were sent the Unofon Group's original annual return for 2005, received by the Jersey authorities on February 28, 2005.

 

It states that Belgravia Group Gibraltar owned a 57.5 per cent stake in the Unofon Group. When we spoke to Mr West on Friday he said: "You would have to ask Clive (Sutton) about that because I don't know what documents he hasn't sent to you."

 

When reminded that he himself had denied on the record that Belgravia Group Ltd were ever shareholders in Unofon, Mr West replied: "I've got nothing further to comment on this. What I said was what I have been advised by my clients."

 

After being presented with the document, Mr Sutton said: "What appears to have happened with regard to the original Unofon Annual Return received by the Financial Services Authority on the 28th of February 2005 is that the return was lodged on the assumption that the proposal would come to fruition when in fact, as I have informed you, it did not."

 

He also stated " . . . any previous version of that annual return stating otherwise was erroneous."

 

All versions of the annual returns for Unofon were signed by Toni Stevenson. A separate document reveals Toni Stevenson was secretary for Belgravia Group Jersey on February 26, 2006.

 

When asked about both companies sharing the same secretary, Mr Sutton at first refused to comment, then added: "The secretary is not available at the moment. She's away on a long-term holiday on the other side of the world."

 

According to media reports Belgravia Group Jersey is not the only company vying for control of Newcastle United, whose chairman in Freddy Shepherd. The club's board last week denied it had accepted a £227m offer from US financiers Polygon and the United Bank of Switzerland.

 

Newcastle United plc's annual meeting is in London on Tuesday.

 

NEWCASTLE uniteds annual meetin is in london? anyone see a stupid idea?

[Syrette]

That's Freddy for you.

[GM]

That's Freddy for you.

 

Aye. What a shite chairman, eh?

[James]

Given that Belgravia could be able to sue if that article had false information, we must now hope that if Belgravia place a bid, Shepherd digs in and waits for Polygon or Gillett.

[James]

 

Newcastle United plc's annual meeting is in London on Tuesday.

 

NEWCASTLE uniteds annual meetin is in london? anyone see a stupid idea?

 

Apparently, we have one in London every other year, to be close to the main shreholder population, while the other is generally near Newcastle. Don't know how accurate that was, as it was in a post made a few weeks back.

[Syrette]

That's Freddy for you.

 

Aye. What a shite chairman, eh?

 

I better not say unless I fancy a 'conversation' with his groupies again.

[Dragon55544]

Given that Belgravia could be able to sue if that article had false information, we must now hope that if Belgravia place a bid, Shepherd digs in and waits for Polygon or Gillett.

 

As much as people hate FS i do believe he does love Newcastle and i doubt he'd sell out to just anyone.

[GM]

That's Freddy for you.

 

Aye. What a shite chairman, eh?

 

I better not say unless I fancy a 'conversation' with his groupies again.

 

[indi]

Whilst that's obviously worrying, what big business hasn't been involved with something dodgy at one time or another? You could dig up something like that on just about every organisation on the high-street pretty easily, including NUFC.

[Howaythelads]

That's Freddy for you.

 

Aye. What a shite chairman, eh?

 

Aye, total disgrace. He'll probably have the neck to go by plane anarl, rather than by National Express to save a few bob like. That could obviously make the difference between relegation and winning the league.

[Dave]

http://i12.tinypic.com/4dmi8v8.jpg

[GM]

That's Freddy for you.

 

Aye. What a shite chairman, eh?

 

Aye, total disgrace. He'll probably have the neck to go by plane anarl, rather than by National Express to save a few bob like. That could obviously make the difference between relegation and winning the league.

 

Sounds like you're promulgating Chaos Theory there...

[magorific]

Whilst that's obviously worrying, what big business hasn't been involved with something dodgy at one time or another? You could dig up something like that on just about every organisation on the high-street pretty easily, including NUFC.

 

Unlikely in the case of any big UK mainland-based company. UK Companies House info is an open book - you can investigate any company to the nth degree. Pretty much all documents are there for public viewing.

Jersey (and I would assume Gibraltar) is very different. You can access very few documents of any private limited company there. Wonder why it's such a popular place?

[indi]

Whilst that's obviously worrying, what big business hasn't been involved with something dodgy at one time or another? You could dig up something like that on just about every organisation on the high-street pretty easily, including NUFC.

 

Unlikely in the case of any big UK mainland-based company. UK Companies House info is an open book - you can investigate any company to the nth degree. Pretty much all documents are there for public viewing.

Jersey (and I would assume Gibraltar) is very different. You can access very few documents of any private limited company there. Wonder why it's such a popular place?

 

What do you mean unlikely?

 

BAE:

http://www.guardian.co.uk/armstrade/story/0,10674,1373154,00.html

 

NatWest:

http://news.bbc.co.uk/1/hi/uk/5175058.stm

 

Tesco:

http://news.independent.co.uk/uk/this_britain/article94961.ece

 

NUFC:

http://www.newcastle-online.com/updated-freddy-shepherd-a-catalogue-of-mismanagement/

 

"Freddy Shepherd’s company, Shepherd Offshore, sold a warehouse to his brother Bruce for £175,000 which he kindly rents to Newcastle United football club for a bargain £150,000 A YEAR! This warehouse we understand is currently the home of some cobwebs, spiders and dust which is the height of interior design in Gibraltar apparently."

 

 

Scandal is everywhere!!

[womblemaster]

what time is agm on tue?

[JH]

Freddy's takeover admission

By COLIN YOUNG

 

NEWCASTLE chairman Freddy Shepherd has confirmed that an American-Swiss consortium are in talks about a £227million takeover. Despite privately claiming last week that reports of the proposed buy-out by U.S. financiers Polygon and the United Bank of Switzerland was untrue — and putting out a similar statement to the Stock Market — Shepherd admitted the consortium have asked to look at the club’s accounts. The revelation came during Newcastle’s brief annual meeting in London yesterday. Last week Sportsmail revealed that Polygon and UBS were poised to make a formal offer. Former Newcastle chairman Sir John Hall and his family, who are the club’s biggest shareholders, are thought to be keen to sell to collect about £40m in the deal. But Shepherd, who owns a 26.7 per cent share, remains reluctant to hand over control of the club, unless it is at the right price. Polygon and UBS are on the verge of scuppering a bid by Jersey-based investors Belgravia, who have already studied Newcastle’s books during a period of due diligence. At the meeting, Shepherd confirmed that Belgravia are still in talks but he insisted a formal offer had not yet been made. Their interest is believed to have been sparked by the prospect of building a super casino at St James’ Park.

 

http://www.dailymail.co.uk/pages/live/articles/sport/football.html?in_article_id=423796&in_page_id=1779

[Guest Invicta_Toon]

The daily fucking mail again?

 

basically calling FF a liar and trying to rescue their failed scoop the other day

[nufcmichael]

http://www.timesonline.co.uk/article/0,,277-2512410,00.html

 

another article about the takeover..

 

Put up or shut up, Shepherd tells Newcastle takeover rivals

George Caulkin

Freddy Shepherd has told would-be investors in Newcastle United that “enough is enough” and admitted that speculation regarding the club’s future has prompted uncertainty on Tyneside this season. While it was finally confirmed yesterday that the Belgravia Group, the Jersey-based investment company, has completed due diligence on the club’s accounts, no formal offer has been received. “It’s time to put up or shut up,” Shepherd, the chairman, said.

 

Speaking after a low-key annual meeting in London — predictions of uncomfortable scenes for directors did not materialise, with fewer than 60 shareholders attending — Shepherd claimed that ten bids to buy Newcastle are being received each week. He also cast doubt on the motives that have generated interest from Belgravia, Polygon and others.

 

“I would like it sorted out as soon as possible — let’s get on with it,” Shepherd, who discounted the suggestion that his desire to retain a position of influence at the club is delaying any prospective takeover, said.

 

“It would be a clean break. I wouldn’t be hanging around. I don’t think that would be right for any company and I’ve bought enough in my time to know it doesn’t work.”

 

Yet the likelihood of Shepherd leaving remains in doubt. Belgravia made an official approach on August 21 and while it has studied the full accounts and is considering its next move, there is no guarantee that anything concrete will follow.

 

Polygon, the American financier, has had only informal contact with the club, which has a stock market value of £107 million and debts of about £80 million. Intriguingly, Shepherd made reference to ntl, the media company that withdrew its takeover bid for Newcastle in 1999. He is yet to be convinced that Belgravia, Polygon, George Gillett — the businessman linked recently with Liverpool — or any other party are genuine buyers. He has not, however, invoked a legal clause with the Takeover Panel that would oblige Belgravia to submit a bid or walk away.

 

“I get ten proposals a week,” Shepherd said. “Some from nutters, some from people who would like to buy the club but really just want to throw their names in. Who had heard of ntl before they came to Newcastle? Now everyone knows Belgravia, Polygon, Gillett — you name them, they have been linked with Newcastle. It is a great way to get your name out there.”

 

After the team’s Barclays Premiership defeat at home to Sheffield United last month, angry supporters demanded an end to Shepherd’s ten-year spell at the club’s helm. Since then, however, results have improved and if Shepherd remains unlikely to win any popularity contests among supporters, he is in bullish mood.

 

“When I left home yesterday, I said I loved my wife, but I might not be loving her when I get back,” he said. “I don’t know what’s going to happen. Someone might come in with a ridiculous offer for the club and I’ll have to do what is best for the shareholders and for the company as a whole. But I said a few weeks ago that I’m fully committed to the club and I still am. I’m a Geordie and I am not moving anywhere.”

 

Shepherd owns 26.7 per cent of Newcastle and the club’s latest annual report discloses that he and Douglas Hall — whose family owns a 41.5 per cent shareholding — would be entitled to two years’ salary (more than £900,000 and £800,000 respectively) should a takeover proceed. “It’s getting to the point now where multimillionaires are not enough,” Shepherd said. “You need billionaires. Of course, I would like that here.”

 

For now, business is continuing as normal and, with the transfer window reopening next month, Shepherd will meet Glenn Roeder, his manager, today to discuss targets.

 

To those fans who questioned the decision to hold the annual meeting almost 300 miles from Newcastle, he pointed out that meetings have traditionally alternated between London and St James’ Park. “Fifty per cent of the shares are held outside the North East, so it’s appropriate that we do have meetings down here [in London] sometimes, but I do take people’s point when they ask why we come here when we could be at home,” he said.

 

“We started doing it this way ten years ago, but I’m in favour of bringing it back to Newcastle.” It was not the response of a cowed man preparing to bid farewell.

[Dokko]

http://www.timesonline.co.uk/article/0,,277-2512410,00.html

 

another article about the takeover..

 

Who had heard of ntl before they came to Newcastle? Now everyone knows Belgravia, Polygon, Gillett — you name them, they have been linked with Newcastle. It is a great way to get your name out there.”

 

He actually make at good point there for a change.

[Guest DazzaNufc1892]

personally i think sponsoring the lions 6 months before they sponsored us made them a pretty well known company............. o yeah and as well as sponsoring celtic, and villa. To be honest, if you want your name to be known for something good, bid for arsenal who arent a laughing stock.

[sempuki]

Newcastle chairman tells potential buyer to 'put up or shut up'

 

 

Michael Walker

Wednesday December 20, 2006

The Guardian

 

 

Newcastle United yesterday confirmed for the first time that the Jersey-based group Belgravia, which has been in takeover talks with the club since August, has completed the process of auditing the books at St James' Park. This confirmation is likely to see Belgravia's credibility on Tyneside rise, although there remains no official bid for the club.

Newcastle United plc held its AGM in the City of London yesterday morning amid takeover speculation. The meeting was attended by a few dozen small shareholders as well as the Newcastle chairman, Freddy Shepherd, and another significant board member, Douglas Hall. There were no uncomfortable moments for the board and they were unable officially to shed much light on the mooted takeover because of Stock Exchange rules and Takeover Panel restrictions.

 

 

Newcastle and Belgravia have been in formal discussions since August 21. Ideally if Belgravia is to purchase the club it would like to do so in time to take advantage of the January transfer window and, despite legal formalities, there is confidence within Belgravia that it has the means to inject funds into the club immediately.

However, the lack of a public face to the company and its unwillingness to speak have caused scepticism in and around St James' and Shepherd said after the AGM that it was time for Belgravia to act, either positively or negatively.

 

"I would like it sorted out as soon as possible," Shepherd said. "Enough is enough. It has not affected the team or the management but, the longer it goes on, it makes for a lot of uncertainty around the club. It is time they put up or shut up, it is as simple as that. I don't make the rules, I abide by them. Let's get on with it."

 

Of his own position as chairman, Shepherd added: "I am not looking actively to leave, not at all, but if there was to be a takeover it would be a clean break. I wouldn't be hanging around. I don't think it is right for any company and I have bought enough companies in my time to know that doesn't work. I certainly wouldn't do it."

 

But there is a difference between Shepherd saying "put up or shut up" and the club invoking the clause of that name. Put Up Or Shut Up is a legal term in the takeover process and Newcastle have been entitled to use it to force Belgravia's hand, or that of Polygon, another interested party. The Takeover Panel would then stipulate a period, usually from two to seven weeks, for an offer to come.

 

City sources suggested that Put Up Or Shut Up not being invoked was an indication of the Newcastle board's willingness to reach an agreement with a potential buyer and, although clearly wearied by the length of this process, Shepherd did say that a deal could be concluded swiftly if necessary.

 

Asked about that possibility he replied: "I take the point; any deal can happen like that. I have been in enough deals in my life when that has happened. But at this minute I don't know any more than I have told you. That is the truth. I get 10 proposals a week, from nutters to people who [say they] would like to buy the club but really just want to throw their name in."

 

He added that any buyer would have to be extremely wealthy to enable Newcastle to compete with other Premiership clubs being bought post-Roman Abramovich. "It is getting to the point now, and I am not just talking about Newcastle, where multimillionaires are not enough," he said. "You need billionaires."

 

Belgravia has considerable assets but, with no official offer expected from the group today, the status quo exists for another 24 hours and Shepherd and Newcastle have to plan for January on the basis that the current board will be in control.

 

Shepherd will meet the manager, Glenn Roeder, before tonight's League Cup quarter-final against Chelsea to discuss transfer activity in the window. The chairman praised Roeder's stewardship, saying: "He has not got a lot of stardust on him but Glenn has come through a very difficult period with dignity and a lot of credit."

 

In contrast Albert Luque's future at Newcastle is uncertain after the forward's walkout before the Watford game last Saturday. "I am not very impressed by that," Shepherd said.

 

[Guest Invicta_Toon]

I am still no more enlightened as to what he would do if an offer is acceptable to the Halls but not to him, given he apparently says he wouldn't be hanging around should a takeover happen

 

he's a crafty fat bastard I'll give him that

[womblemaster]

why have i got the feeling that fs and hall actually arent really being helpful to any potential suitors.

 

I bet they draggin their heals till jan, and know that this will delay the bid for a few onths more.

[Disco]

http://news.bbc.co.uk/sport1/hi/football/teams/n/newcastle_united/6195783.stm

 

Newcastle say a consortium backed by American group Polygon are one of the parties that have approached the board about a possible offer for the club.

The announcement comes after Magpies chairman Freddy Shepherd told the parties linked with moves for the club to make their intentions public.

 

Newcastle however, insist the board "have not accepted any proposals for the company from any party".

 

A statement added that "there can be no certainty that an offer will be made".