| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J 20:40 - Jul 14 with 17008 views | RAFCBLUE |
It appears the proposed takeover committee of Alexander Jarvis, Andy Curran and Darrell Rose have hit a bit of a problem.
Money.
When you offer to buy something, we all know you must pay for it to get it and so far, not one of the selling shareholders has received a penny of the proposed funds that they have been offered by Jarvis, Curran and Rose for a private and quick sale of their shares.
There are “agreements in principle” for several significant shareholders with Alexander Jarvis to sell but only IF Alexander Jarvis can secure a controlling shareholding. No shares have been transferred to Andy Curran or Darrell Rose and therefore no money has been received by selling shareholders.
The deal is being managed personally by Alexander Jarvis of Blackridge Sports and law firm Gateley. Gateley describe themselves as “passionate problem solvers, we get our kicks from finding the right answers and getting our clients where they need to be.”
That’s lawyer speaks for saying we do as we are told.
To be clear, Gateley are not writing the cheques here, they are a middleman handling client funds for Alexander Jarvis, Andy Curran and Darrell Rose and can only pay for the shares when they say so.
This has come to light following the EFL statement yesterday, that has put a huge spanner in the works for the deal.
https://www.efl.com/news/2021/july/efl-statement-rochdale-afc/
Without getting to 50% there is no deal and Alexander Jarvis, Andy Curran and Darrell Rose are not going to put money into having only a very small shareholding in a League 2 football club as there is nothing in it for them.
The EFL statements reads like truly little is known about these people and a full investigation will be done [i[IF they present the required information to the EFL.
The other concern is the source and use of the funds. The EFL have already raised this via their statement but both them and the lawyers acting for Gateley and for the selling shareholders both have to comply with two bits of law:
1. Proceeds of Crime Act 2002 and
2. The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
The requirements on solicitors are onerous and found here:
https://www.sra.org.uk/risk/outlook/risk-outlook-2020-21/anti-money-laundering/
Any selling shareholder is going to want to make sure that they have carefully checked the source of their windfall; because the authorities can and will seize anything they believe is caught by either legislation.
Even Rochdale Online has some good examples of the authorities seizing dirty money and shows how easy it is to fall four of the law in this area:
https://www.rochdaleonline.co.uk/news-features/2/news-headlines/141906/criminals
If I had agreed to sell to Alexander Jarvis and that wasn’t binding I’d want to make sure that I wasn’t being duped and that somewhere down the line there would be a knock on my door by a Police Officer!
A conditional offer refers to a takeover offer which is expressed to be subject to certain conditions being fulfilled. This means that the buyer will only become obligated to purchase the shares in the target company (i.e. Rochdale) which have been validly tendered in acceptance of the offer after the conditions have been fulfilled.
The EFL signoff is itself conditional on the proposed buyers complying with all EFL regulations.
And before that can happen though, Alexander Jarvis, Andy Curran and Darrell Rose have some cash transfers to get done.
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 20:48 - Jul 14 with 7658 views | judd |
Blimey Charlie |  |
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 20:53 - Jul 14 with 7615 views | James1980 |
Right then whose shareholding is the smallest that us fans can club together and buy that will hole this take over below the waterline? |  |
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:15 - Jul 14 with 7481 views | IOMDale |
Im not getting complacent but as each day passes, I’m feeling more and more confident that Messrs Jarvis, Curran and Rose are going to play no role at our club in the future.
Thanks a lot for the update RAFCBLUE. |  | | |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:18 - Jul 14 with 7452 views | 1907 |
Any developments on when GMP will be knocking on Mr Bottomley’s door?
There are now serious allegations of wrong doing, most notably that of a serious GDPR breach of shareholder information which has been leaked from the club to these sharks. | | | |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:19 - Jul 14 with 7429 views | TomRAFC |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 20:53 - Jul 14 by James1980 |
Right then whose shareholding is the smallest that us fans can club together and buy that will hole this take over below the waterline? |
The substantial shares, that are up for sale, are in the hands of Altman, Marcelli, and Andrew Kilpatrick. They are not the easiest people to contact these days. Hopefully they will see this is shifty business and proactively try and sell to fans. | |
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:25 - Jul 14 with 7384 views | jonahwhereru |
The banking industry are always very suspicious of car dealership transactions. They all go through the most rigorous money laundering vetting, as the industry is renowned for this practice. ....just saying like! | | | |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:25 - Jul 14 with 7383 views | RAFCBLUE |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:15 - Jul 14 by IOMDale |
Im not getting complacent but as each day passes, I’m feeling more and more confident that Messrs Jarvis, Curran and Rose are going to play no role at our club in the future.
Thanks a lot for the update RAFCBLUE. |
Andy Curran was seen - in Rochdale - in his Rolls Royce Cullinan (numberplate: 71AC) by various witnesses on 6th July.
I think there are even pictures of the car on social media.
I wouldn't think that this takeover bid dies just yet but Andy will have to make the payments to the shareholders who have agreed to sell and then follow the EFL rules.
The EFL said they have not heard from Andy Curran or Alexander Jarvis yet. It's amazing how high profiile trying to buy a football club makes you.
And then there is the question of how you have made your money and where it is coming from. | |
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:29 - Jul 14 with 7359 views | RAFCBLUE |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:19 - Jul 14 by TomRAFC |
The substantial shares, that are up for sale, are in the hands of Altman, Marcelli, and Andrew Kilpatrick. They are not the easiest people to contact these days. Hopefully they will see this is shifty business and proactively try and sell to fans. |
Hopefully those selling will have good lawyers though.
Imagine if you sold your shareholding and the shareholdings were the proceeds of crime or illegitimate activity. How foolish would you feel?!
Lawyers are paid good money by their clients to prevent that.
And if you sell to a wrong 'un the police can come and take the lot - so you'd get nothing from your share sale financially. | |
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:34 - Jul 14 with 7304 views | judd |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:18 - Jul 14 by 1907 |
Any developments on when GMP will be knocking on Mr Bottomley’s door?
There are now serious allegations of wrong doing, most notably that of a serious GDPR breach of shareholder information which has been leaked from the club to these sharks. |
A breach of GDPR is down to the company, not an individual, and would be prosecuted by the ICO, not GMP. | |
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:37 - Jul 14 with 7274 views | 1907 |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:34 - Jul 14 by judd |
A breach of GDPR is down to the company, not an individual, and would be prosecuted by the ICO, not GMP. |
Are there any other concerns about on goings that are reportable to GMP?
It’s really not sitting right with me what this scumbag has done to our club & rode off into the sunset with his golden handshake derived from his self approved pay rise. | | | |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:38 - Jul 14 with 7270 views | RAFCBLUE |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:34 - Jul 14 by judd |
A breach of GDPR is down to the company, not an individual, and would be prosecuted by the ICO, not GMP. |
All Directors have to follow the law of the land though, judd.
Companies Act allows prosecution of Directors where they have not followed the law. | |
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:38 - Jul 14 with 7267 views | James1980 |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:19 - Jul 14 by TomRAFC |
The substantial shares, that are up for sale, are in the hands of Altman, Marcelli, and Andrew Kilpatrick. They are not the easiest people to contact these days. Hopefully they will see this is shifty business and proactively try and sell to fans. |
So around 184K shares around an additional 70k needed to achieve the magic 50.1%.
Do we know if all other shareholders with holdings in the thousands have been contacted by this gang and if so have they told them to Do One? | |
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:44 - Jul 14 with 7219 views | judd |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:38 - Jul 14 by RAFCBLUE |
All Directors have to follow the law of the land though, judd.
Companies Act allows prosecution of Directors where they have not followed the law. |
The CE was removed by shareholders from his directorship. | |
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:50 - Jul 14 with 7159 views | RAFCBLUE |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:44 - Jul 14 by judd |
The CE was removed by shareholders from his directorship. |
If you're referring to the former CEO, judd then it would depend on the timing of any supposed breach.
Bottomley was a director until the 1st June and then just CEO until 28th June when he left by mutual consent.
Even if you are not a statutory director you are generally caught by being a shadow director. | |
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 22:17 - Jul 14 with 7002 views | BigDaveMyCock |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:50 - Jul 14 by RAFCBLUE |
If you're referring to the former CEO, judd then it would depend on the timing of any supposed breach.
Bottomley was a director until the 1st June and then just CEO until 28th June when he left by mutual consent.
Even if you are not a statutory director you are generally caught by being a shadow director. |
Judd is correct. If a person believes their personal data has been breached then they should in the first instance contact the club. If they are not satisfied with the response from the club then they may be eligible to report it to the ICO. You wouldn’t report it to the Bobbies and they will not be knocking on anybody’s door for reasons of breaches of data protection. It will also be the club liable for any breach, not the individual.
Also, I could be wrong but you seem to suggest in the op that lawyers will be buying shares. They won’t. They may be instructed by their clients to manage the transaction. Due diligence, contracts, overseeing the sale and registration at Companies House but they won’t be purchasing any shares. [Post edited 14 Jul 2021 22:20]
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 22:20 - Jul 14 with 6987 views | RAFCBLUE |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 22:17 - Jul 14 by BigDaveMyCock |
Judd is correct. If a person believes their personal data has been breached then they should in the first instance contact the club. If they are not satisfied with the response from the club then they may be eligible to report it to the ICO. You wouldn’t report it to the Bobbies and they will not be knocking on anybody’s door for reasons of breaches of data protection. It will also be the club liable for any breach, not the individual.
Also, I could be wrong but you seem to suggest in the op that lawyers will be buying shares. They won’t. They may be instructed by their clients to manage the transaction. Due diligence, contracts, overseeing the sale and registration at Companies House but they won’t be purchasing any shares. [Post edited 14 Jul 2021 22:20]
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Agree Gateley are not buying the shares here.
I said:
"To be clear, Gateley are not writing the cheques here, they are a middleman handling client funds for Alexander Jarvis, Andy Curran and Darrell Rose and can only pay for the shares when they say so."
Gateley and any other solicitor involved will have to satisfy themselves that money laundering protocols have been satisfied before any funds are transferred. | |
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 22:24 - Jul 14 with 6959 views | BigDaveMyCock |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 22:20 - Jul 14 by RAFCBLUE |
Agree Gateley are not buying the shares here.
I said:
"To be clear, Gateley are not writing the cheques here, they are a middleman handling client funds for Alexander Jarvis, Andy Curran and Darrell Rose and can only pay for the shares when they say so."
Gateley and any other solicitor involved will have to satisfy themselves that money laundering protocols have been satisfied before any funds are transferred. |
Yes that’s right. They’ll have to go through all know your customer, proof of funds and anti-money laundering checks on their clients.
Gatelys are quite a largish reputable firm tbf. You wouldn’t normally go to the expense of instructing them if you didn’t have the money. Although we don’t know if they’ve been fully instructed yet.
[Post edited 14 Jul 2021 22:30]
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 00:32 - Jul 15 with 6670 views | Sandyman |
Well!! It seems that Alex Jarvis, via his vehicle https://blackbridgesports.com/ , Andrew Curran and Darrell Rose aren't what they make out to be. We've heard of terminological inexactitudes from one or more of these people that haven't gone down well with the EFL. Monies due have allegedly not been paid. EFL rules and regs not complied with and a major legal firm conducting business that might not be to the standards they normally aspire to. All being discussed and shared all over the place on the lower league football's vast network of social media.
Even back in the late 1990's this would have been swarmed on by a lower league online forum like the late, departed "Bottom Of The Barrel". It's going to be all over Twitter and Faceache and beyond now as a warning. Names, details, the lot.
One name has cropped up again. David Bottomley. I'll leave it there.
UP THE DALE [Post edited 15 Jul 2021 0:35]
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 08:40 - Jul 15 with 6035 views | electricblue |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:19 - Jul 14 by TomRAFC |
The substantial shares, that are up for sale, are in the hands of Altman, Marcelli, and Andrew Kilpatrick. They are not the easiest people to contact these days. Hopefully they will see this is shifty business and proactively try and sell to fans. |
Isnt now the time then that between the trust and the club and other parties like RMBC to get the ball rolling and try to raise the monies to secure the shares!
My big worry is the amount required and not enough donations....
Its a tough decission to choose weither to buy out those shares to secure the club or buy the unissued shares..... |  |
| My all time favourite Dale player Mr Lyndon Symmonds |
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 09:07 - Jul 15 with 5938 views | DaleiLama |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 21:44 - Jul 14 by judd |
The CE was removed by shareholders from his directorship. |
Is that the American spelling of dictatorship Judd?  |  |
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 09:16 - Jul 15 with 5904 views | DorkingDale |
Could the delay in funding be related to the delay in Lee Power receiving payment for the Swindon buy-out? | | | |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 09:19 - Jul 15 with 5901 views | RAFCBLUE |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 00:32 - Jul 15 by Sandyman |
Well!! It seems that Alex Jarvis, via his vehicle https://blackbridgesports.com/ , Andrew Curran and Darrell Rose aren't what they make out to be. We've heard of terminological inexactitudes from one or more of these people that haven't gone down well with the EFL. Monies due have allegedly not been paid. EFL rules and regs not complied with and a major legal firm conducting business that might not be to the standards they normally aspire to. All being discussed and shared all over the place on the lower league football's vast network of social media.
Even back in the late 1990's this would have been swarmed on by a lower league online forum like the late, departed "Bottom Of The Barrel". It's going to be all over Twitter and Faceache and beyond now as a warning. Names, details, the lot.
One name has cropped up again. David Bottomley. I'll leave it there.
UP THE DALE [Post edited 15 Jul 2021 0:35]
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Monies due have allegedly not been paid. EFL rules and regs not complied with and a major legal firm conducting business that might not be to the standards they normally aspire to.
That's not "business" Sandyman.
That's an attempt to con existing shareholders out of their existing shareholdings and cash.
Or politely as the EFL said "misconduct" | |
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 09:43 - Jul 15 with 5823 views | 1907 |
Now would be a good time for either a Trust statement, a club statement, or both. | | | |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 10:03 - Jul 15 with 5744 views | RAFCBLUE |
| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 09:43 - Jul 15 by 1907 |
Now would be a good time for either a Trust statement, a club statement, or both. |
Or alternatively from Alexander Jarvis or Andy Curran or Darrell Rose?
Andy Curran's Rolls Royce Cullinan was seen at the club last week so everyone knows it's him.
The EFL rules say a bidder needs to go public with a takeover bid so he'll have to come out publicly eventually.
Jarvis is his mouthpiece so expect the statement to come from him but written by Curran. | |
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| BREAKING NEWS: No selling shareholder has yet received ANY cash from Alexander J on 10:07 - Jul 15 with 5705 views | D_Alien |
I expect there's significant numbers of fans who'll continue to withhold SC purchases and other financial input to the club until something reasonably definitive emerges about this attempted takeover
The news that 1000 SCs have been bought might be encouraging to the club but money in the bank is also music to the ears of chancers
That's the reality and perhaps the time has come, as 1907 suggests, for cards to be put on the table and given the hostility and underhandedness of the Cullen/Jarvis mob, a refusal to at least hold further talks if not a direct rejection of the methodologies being employed, thus sending a clear signal to shareholders and fans of the values that we as a club aspire to
Would that be reckless, from a purely business point of view? It may have been up till now, but at some stage it becomes more about "what's the point of business" under such circumstances and take a stand which the EFL should be doing
[Post edited 15 Jul 2021 10:09]
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