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Mike Ashley -- Irrelevant Cunt


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If you can help then make a donation via Paypal - http://tinyurl.com/FF-SDLegal

 

I bought a single share in Sports Direct International and then I requested a copy of their share register. Their company secretary then wrote asking why I wanted the register and I explained thus:-

 

Mr Cameron Olsen, The Company Secretary, Sports Direct International, Monday 16 February 2015

Dear Mr Olsen, Thank you for your letter of the 9th February requesting me to explain the purpose of my request to obtain the shareholders register. As you will be aware, Section 116 of the Companies Act enables a shareholder to request a copy of the company's register of members where this constitutes a proper purpose. As a shareholder I am concerned over the bad publicity the company has been receiving over its use of zero hours contracts and the retail agreements in place with RIFC plc which have also caused a large amount of detrimental publicity which may damage the share price.

I wish to canvass my fellow shareholders as to whether they would be willing to support resolutions to end the use of zero hours contracts and to review the terms of the retail agreements with RIFC plc to ensure that these generate sales revenue that benefits shareholders; rather than the current agreements which whilst appearing to be favourable are generating low sales volumes due to the level of hostility amongst the public to what are viewed as unfair terms.

I look forward to receiving the register so that I can canvass my fellow shareholders to ensure that we are able to ensure that the business does not continue to be involved in contracts which damage the long term interests of shareholders.

Regarding the requested fee of £65, my understanding is that as a member of the company, under Section 116, that this information should be available for free. I have laid out the appropriate section below:

Section 116

Rights to inspect and require copies

(1)The register and the index of members' names must be open to the

inspection— .

(a)of any member of the company without charge, and .

If my understanding is incorrect, or the company feels this is too great a financial encumbrance, then I will, of course, send a cheque subject to your advice.

I would prefer the copy of the register to be in electronic form.

Yours sincerely,

MARK DINGWALL

 

The same day Sport Direct lawyers made an application to the Companies Court in London seeking the following -

 

1/ That the Claimant shall not comply with the request of Mr Mark DIngwall by letter dated 3 February 2015 for a a copy of the Claimant’s register of members.

2/ That they “shall not comply with any future request (whether made by Mark Dingwall or any other person) to inspect the Claimant’s register of members or for a copy of that register where the only purpose given for the request is to enable members to be contacted, without identifying the subject matter and purpose of such contact:

3/ Mark Dingwall do pay the Claimant’s costs, such costs to be assessed if not agreed.

 

The hearing is set for 11.30 on 14th April.

 

I can understand a company not wishing to hand out it’s share register willy-nilly but the principle is that sensible shareholders dis-satisfied with the performance of a company should be able to seek out other shareholders and canvass their opinions. In my original request I undertook not to share the register with anyone else and not to contact the shareholders regarding anything other than the company’s affairs.

By moving to strike out my request; and specifically to set the precedent that neither I nor any other shareholder can in the future obtain a copy of the register; Sports Direct are seeking to remove one vital right whereby shareholders can seek to enforce their rights by lobbying other investors in the company.

 

I have had some free advice so far but with the 14th April looming I think engaging a lawyer would be the sensible way to go. FF.com exists on a hand to mouth basis - we have no rich and mysterious backers nor plentiful sources of income. If we can settle outside of court or are otherwise successful then the balance will, of course, be donated to charitable causes after consultation with the donors.

 

If you can help then make a donation via Paypal - http://tinyurl.com/FF-SDLegal

 

 

http://www.followfollow.com/news/tmnw/mike_ashley_rangers_and_the_sports_direct_share_register_857955/index.shtml

 

Why was this thread pinned?

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If Rangers get promoted to the SPL by finishing second they will collect £342,000 in prize money.

 

If Rangers get promoted to the SPL by finishing second they will have to pay NUFC £500,000 as a bonus payment for loaning them four crocks and a semi-crock.

 

:lol:

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If Rangers get promoted to the SPL by finishing second they will collect £342,000 in prize money.

 

If Rangers get promoted to the SPL by finishing second they will have to pay NUFC £500,000 as a bonus payment for loaning them four crocks and a semi-crock.

 

:lol:

I was just about to post the same thing.

 

That's incredible business. Fanks Mike.

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£500,000 for 8 games and 4 goals, between 5 players...

Rangers couldn't have afforded any loan players and certainly not loan fee's. Without Vukic's goals they'd be lucky to be in 4th never mind current joint 2nd. This is like deferred loan fees contingent on promotion, it's a mountain out of a mole hill.

 

We did them a favour (sadly) :)

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Rangers couldn't have afforded any loan players and certainly not loan fee's. Without Vukic's goals they'd be lucky to be in 4th never mind current joint 2nd. This is like deferred loan fees contingent on promotion, it's a mountain out of a mole hill.

 

We did them a favour (sadly) :)

 

Without Vuckic's goals they'd be in third, exactly where they are now (albeit two points worse off).

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Rangers couldn't have afforded any loan players and certainly not loan fee's. Without Vukic's goals they'd be lucky to be in 4th never mind current joint 2nd. This is like deferred loan fees contingent on promotion, it's a mountain out of a mole hill.

 

We did them a favour (sadly) :)

 

That'd all be fine if they'd had the benefit of the players. It's easy to say that Vuckic's goals have dragged them to 2nd, but who's to say that if they'd been playing some other youth player on their books, they wouldn't have won those 2 draws his goals secured?

 

We must have known about Bigi's situation, so we've surely suckered them into that?

 

 

Also aren't Rangers paying their wages out of the money that Ashley has loaned them, which will lead them to need more money, that they'll likely have to borrow from Ashley?

 

I understand they would have found it difficult to find players, but I think you've a different idea of doing someone a favour than I do.

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3 out of the 5 players were unfit to play and continue to be so. That's just a rip off. I don't know whether Streete was fully fit but it's suspicious he only lasted about 30 mins of action.

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Without Vuckic's goals they'd be in third, exactly where they are now (albeit two points worse off).

If he hadn't been in the team they wouldn't have picked up the points they have, he's been far and away their best player when he's been on the park.

That'd all be fine if they'd had the benefit of the players. It's easy to say that Vuckic's goals have dragged them to 2nd, but who's to say that if they'd been playing some other youth player on their books, they wouldn't have won those 2 draws his goals secured?

 

We must have known about Bigi's situation, so we've surely suckered them into that?

 

 

Also aren't Rangers paying their wages out of the money that Ashley has loaned them, which will lead them to need more money, that they'll likely have to borrow from Ashley?

 

I understand they would have found it difficult to find players, but I think you've a different idea of doing someone a favour than I do.

Half a million IF it gets them promoted is well worth it (to them). Streete played first game but got crocked, that's not our fault.

 

They needed some refresh of players, they were in a tailspin and couldn't have afforded any without the influence from Ashley.

 

Their youth set up is all but gone, under the old boards, pre-Ashley's influence, they have virtually no-one coming through. Their HUGE error was to pay top wages(second only to Celtic in all of Scotland) when they were in the 4th tier to journeymen to coast the leagues. They should have played/built with younger players when they were playing postmen and fishermen(they could have afforded the best kids). They would still have coasted the lower leagues.

 

Shit, look at Hearts virtually all kids and have walked the Championship.

 

Evidently on Bigi (according to some), he could play in England but not allowed to in Scotland, don't know the rule because don't know what he's got.

 

Simple fact is, this is spin from the "new" board, it's not even relevant to the financial period that's being reported. It's down to interpretation, Rangers needed players, they couldn't afford any by themselves, without the undue influence they wouldn't have got any. Story could quite easily be run as: NUFC loan Rangers players and defer loan fees so they're only payable on promotion - That is doing a favour.

 

We should be more upset the loan fees have been deferred, NUFC could lose out on those amounts and loan fees are certainly "normal".

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You're arguing against yourself there. You're saying that they'd coast to promotion even if they played kids (who could have been picked up for less than £500k) but we've done them a favour by charging them £500k if they're promoted for 5 players who've not really had an impact on their season?

 

Put it this way, as has been pointed out, Vuckic is the only player to have made league appearances, his goals have made no difference to their league position. So Rangers are paying £500k for nothing or they're not being promoted.

 

I get that you're trying to spin this, but it isn't worth it.

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You're arguing against yourself there. You're saying that they'd coast to promotion even if they played kids (who could have been picked up for less than £500k) but we've done them a favour by charging them £500k if they're promoted for 5 players who've not really had an impact on their season?

 

Put it this way, as has been pointed out, Vuckic is the only player to have made league appearances, his goals have made no difference to their league position. So Rangers are paying £500k for nothing or they're not being promoted.

 

I get that you're trying to spin this, but it isn't worth it.

I'm trying to de-spin it.

 

They'd have coasted the leagues IF they'd built with kids from the old 4th tier. Fast forward to January, they needed new players, they were plummeting and have bugger all in terms of kids on the books, but they had no money so couldn't have signed anyone. Even though Vukic is the only one to have played it's made a positive difference.

 

IF they get promoted £500K will be well worth it, Vukic has made a huge difference to them:

 

http://forum.rangersmedia.co.uk/index.php?s=007fda8ba7d828c4681929dd16dc62d5&showtopic=281553

 

Without Ashley's influence, would we loan any players to a team for potentially free ??? I doubt it. They only pay if they go up.

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Without Ashley's influence would Rangers risk spending £500k on these players? Nope.

 

£100k on Vuckic? Maybe.

 

Ashley has very cleverly wrung more money from Rangers

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5 games and he's the difference?

 

Behave yourself man.

Not my words, Rangers fans words, read the thread I posted. They were cratering into January.

 

If in January you had said to Rangers, would you pay us £500K to get promoted and it's only payable if you do go up, they'd have snapped your hand off.

Edited by Toonpack
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Oh well, I'm glad you took the opinions of Rangers fans, it's unlike them to go overboard in their praise of a young player...

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  • Andrew changed the title to Mike Ashley -- Irrelevant Cunt

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