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#Post#: 97687--------------------------------------------------
Re: Should Worcester and Wasps lose their "P" shares ?
DIR By: Camquin
Date: October 21, 2022, 4:34 am
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It works for me, which means there is state in the token.
Try going to
HTML https://find-and-update.company-information.service.gov.uk/company/11894492
And under Filing History, you will find Incorporation, which is
the document you need.
#Post#: 97688--------------------------------------------------
Re: Should Worcester and Wasps lose their "P" shares ?
DIR By: Donuts
Date: October 21, 2022, 4:54 am
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The Original Incorporation Articles of Association have been
superseded by those filed on the 29th April 2019 I think
#Post#: 97689--------------------------------------------------
Re: Should Worcester and Wasps lose their "P" shares ?
DIR By: Camquin
Date: October 21, 2022, 5:14 am
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That is the one I am linking to. The company was incorporated on
20th March and articles adopted on 29th April, once all the
teams have signed. The 29th April link is just to the document
with all the signatures.
#Post#: 97693--------------------------------------------------
Re: Should Worcester and Wasps lose their "P" shares ?
DIR By: Brown Bottle
Date: October 21, 2022, 5:42 am
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Since the P shares are valuable assets surely they can only be
retained if someone steps in to clear other debts. Otherwise the
administrators are obliged to sell them back to PRL.
#Post#: 97694--------------------------------------------------
Re: Should Worcester and Wasps lose their "P" shares ?
DIR By: East Sussex Chris
Date: October 21, 2022, 5:53 am
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Who knows what these P shares mean could a billionairre offer
the administrator more than PR and own a share? Not sure what it
all means
#Post#: 97696--------------------------------------------------
Re: Should Worcester and Wasps lose their "P" shares ?
DIR By: Yareet
Date: October 21, 2022, 5:55 am
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--- Quote from: Brown Bottle link ---
>
> Since the P shares are valuable assets surely they can only be
retained if someone steps in to clear other debts. Otherwise the
administrators are obliged to sell them back to PRL.
>
--- End Quote ---
On the BBC pod, they interviewed the administrator. I think he
was saying that the P shares were not within his remit but I
could have misunderstood.
#Post#: 97708--------------------------------------------------
Re: Should Worcester and Wasps lose their "P" shares ?
DIR By: euroquin
Date: October 21, 2022, 6:54 am
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My understanding was that if a club undergoes an insolvency
event such as going into administration, then PR has a right to
compulsorily purchase the P shares.
#Post#: 97726--------------------------------------------------
Re: Should Worcester and Wasps lose their "P" shares ?
DIR By: Camquin
Date: October 21, 2022, 9:02 am
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PRL Investor Ltd owns the clubs' portion of Premiership Rugby
and hence of the TV rights and of the Gallagher sponsorship.
Shares in PRL Investor Ltd can only be owned by Qualifying
Clubs. That is, those in the Premiership, or those relegated to
the Championship at the end of the season. those clubs retain
the right to hold shares for one year
As Worcester and Wasps are both in administration and suspended
from the Premiership, they are no longer qualifying clubs - and
the league should buy the shares from them.
If a billionaire wanted to buy a share of the TV rights, they
can buy shares from CVC - but those are in a different company.
And at some point, CVC will be looking to sell.
And the point of having two companies, is so the rules for
shares can be different.
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