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Title: Financial Services Authority censure
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Mark Isaac
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(Date Posted:17/06/2007 16:00:29)

Something you have not told us Mr P?

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norfolk townie
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(Date Posted:17/06/2007 16:03:24)

Care to tell us Mark instead of riddles?

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Mark Isaac
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(Date Posted:17/06/2007 16:04:49)

Ask Mr P yokel brains

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dubaicamel
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(Date Posted:17/06/2007 16:18:29)

Hope your are not suggesting BP has a colourful past are you.........

Something about his time at Leicester City per chance?

BUFCFerret
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(Date Posted:17/06/2007 16:29:38)

Naughty, naughty, issuing leaflets without permission.  Full story http://www.fsa.gov.uk/Pages/Library/Communication/PR/2000/072.shtml

No worse than issuing letters purporting to come from a body (e.g. IPS) when in reality they are the unsanctioned work of the indivudal author?

 

I thought it was something realy juicy like changing his name to avouid paying debts?

Mark Isaac
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(Date Posted:17/06/2007 16:47:28)




The Quotations Committee of the UK Listing Authority today considered a referral from the UK Listing Authority regarding breaches of the Listing Rules by Leicester City plc (the Company). The referral concerned the publication by Leicester City plc of a circular to the Companys shareholders on 29 November 1999. The Committee decided that the Listing Rules were breached and that the Company should be publicly censured.

The Committees decision is summarised below. The full text of the Committees decision is appended to this release.

Summary of case

The Committee decided that the Company had breached paragraphs 14.1, 14.2 and 14.4 of the Listing Rules. These rules require listed companies to seek the prior approval of the UK Listing Authority for all circulars of a non-routine nature issued to shareholders. All circulars issued by listed companies must contain specified information and, under the Listing Rules applicable at the time of the breaches by Leicester City plc, copies of those circulars were required to be lodged at the Company Announcements Office of the London Stock Exchange (the Exchange).

In breach of the Listing Rules the Company failed to obtain the approval of the UK Listing Authority for its circular before sending it to shareholders, failed to include the prescribed information in the circular, and failed to lodge copies of the circular at the Company Announcements Office.

The Company has acknowledged these breaches and, by way of explanation, has stated that the events took place at a time of uncertainty in the affairs of its board. The Committee has taken into account the admission of the breaches by the Company, and the concerns of, and steps taken by, the present directors of the Company to ensure future compliance with the Listing Rules, including closer consultation with its professional advisers.

However, the Committee regards the requirements of Chapter 14 of the Listing Rules as an important protection for shareholders and takes the most serious view of listed companies which disregard those provisions either by oversight or otherwise. In the Committees view the circumstances which the Company has referred to do not excuse its breaches of the Listing Rules set out above.

Background

On 14 September 1999 the Company had announced on the Exchanges Regulatory News Service the resignation from its board of directors of Sir Rodney Walker and John Elsom. Sir Rodney Walker and John Elsom disputed that they had resigned as directors of the Company.

An Extraordinary General Meeting was requisitioned by shareholders supporting Sir Rodney Walker and John Elsom, and proposed resolutions confirming that they were directors or alternatively appointing them as directors of the Company, and seeking the removal from office of four of the Companys then directors, Barrie Pierpoint, Philip Smith, Roy Parker and Gilbert Kinch.

The EGM was to be held on 22 December 1999, the same day as the Companys Annual General Meeting. The notice of the EGM was issued by the Company on 29 November 1999 together with the Companys annual report and accounts, a covering letter giving details of the EGM and AGM, and a circular from the four directors whose removal from the board was sought by the requisitioning shareholders, recommending that shareholders vote against the resolutions proposed for the EGM.

The circular was not submitted to the UK Listing Authority for prior approval nor did the Company seek the approval of its professional advisers before issuing it.

On 20 December 1999, Messrs Smith, Parker and Kinch resigned from office as directors of the Company. On 22 December 1999 Mr Pierpoint was removed from office as a director of the Company by ordinary resolution of shareholders at the EGM.
Notes for editors
1.        Under the Official Listing of Securities (Change of Competent Authority) Regulations 2000 (the Regulations) the functions of the UK Listing Authority were transferred to the Financial Services Authority with effect from 1 May 2000. The UK Listing Authority has responsibility for, amongst other things, enforcement of the Listing Rules.
2.        The Regulations also enable the Quotations Committee of the UK Listing Authority to take action under paragraph 1.9 of the Listing Rules in respect of breaches that occurred before 1 May 2000. The Listing Rules applicable at the time of the breaches referred to above were those published in January 1999.



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norfolk townie
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(Date Posted:17/06/2007 18:16:12)

Reply to : Mark Isaac

Ask Mr P yokel brains

 

 

i WOULD IF I HAD HIS NUMBER AND DETAILS CHICKEN BRAIN 

Tash2
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(Date Posted:17/06/2007 18:18:31)

Reply to : BUFCFerret



Naughty, naughty, issuing leaflets without permission. Full storyhttp://www.fsa.gov.uk/Pages/Library/Communication/PR/2000/072.shtmlNo worse than issuing letters purporting to come from a body (e.g. IPS) when in reality they are the unsanctioned work of the indivudal author?I thought it was something realy juicy like changing his name to avouid paying debts?





Well done BUFCFerret that flushed the riddler out. He would of kept it going for days. If thats the worst/best our new fan has done in his buisness career he'll do for me Tommy! Will there be more to follow from the oracle of optimisum.

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Mark Isaac
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(Date Posted:17/06/2007 23:03:48)

SFA censure is a very serious matter especially when the SFA has been criticised for poor enforcement.

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Shodfriars
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(Date Posted:17/06/2007 23:06:17)

Who cares what the Scottish Football Association thinks?

They can fook off back over Hadrien's Wall!

Mark Isaac
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(Date Posted:17/06/2007 23:13:10)

Who is Hadrien?

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Shodfriars
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(Date Posted:17/06/2007 23:19:20)

Original Latin spelling, Biggus Twattus.
grah677
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(Date Posted:18/06/2007 00:47:01)

i dont know mr issac personally but what the hell is that mans game he really seems like a total t**t what does he gain from being the way he is. say something positive for a change or constructive instead of the pathetic riddles its all very boring now, do you actually care about bufc because you love to slag everyone off and be negative when everybody else is being positive

 

Shodfriars
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(Date Posted:18/06/2007 00:51:37)

He was useful at unearthing dirt on Lavflow, but over the months he has shown his true colours. He's not interested in the Trust, not really interested in Boston United. He is only interested in self promotion and dissing anyone else who wants to work to save the club.
Mark Isaac
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(Date Posted:18/06/2007 01:03:21)

Reply to : grah677

i dont know mr issac personally but what the hell is that mans game he really seems like a total t**t what does he gain from being the way he is. say something positive for a change or constructive instead of the pathetic riddles its all very boring now, do you actually care about bufc because you love to slag everyone off and be negative when everybody else is being positive
Grah, please enlighten me as to the positives or use the ignore my posts button to reduce your angst I suggest. smiley.  how's skeggy?

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grah677
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(Date Posted:18/06/2007 01:23:31)

skeggs great thanks,lol

nothing personal mark as i dont know you to judge you but it just seems u like being negative and  you like conflict  are youactually a true boston fan and do u want the club to survive,

barrie pierpoint and john blackwell are trying to set up atrust to safeguard the club and its future and everyone on here seems to support it but you,like the article you posted earlier about barrie and his past from leicester why bring that up,

Mark Isaac
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(Date Posted:18/06/2007 22:57:10)

I would support the setting up of a trust so that any monies handed over is safeguarded by independent trustees who are proper and decent. 

However, we must  bear in mind the club has entered a CVA and that no monies raised should be used to support this.

Standing Alone (SA) has undertaken to pay the CVA provided it gets planning permission at Boston Town and takes control of the club. 

It now transpires that SA it cannot reach agreement to buy the Lavaflow shares and SA now wishes to recoup somewhere in the region on ?15,000 it has spent on legal fees. The football club accounts are overdue and a local accountant wants his cash to in order to release them (?5,000 I hear).  The current Boston United chairman is on his holidays leaving Mr Hanby to do his work.

There may also be other creditors crawling out of the woodwork.

The football club is a basket case and needs to reform imho,  and be debt free before it attracts the sort of investment needed to pay Mr Malkinson and his sons a decent rent on the ground and can offer the opportunity of purchasing York Street outright in due course.

The only obstacle to this is confidentiality agreement between Lavaflow and Standing Alone, who between them are making the club a laughing stock  and one that will fail to field a football team next season if this continues.

 

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John Steed
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(Date Posted:18/06/2007 23:12:03)

Reply to : Mark Isaac

I. The football club accounts are overdue and a local accountant wants his cash to in order to release them (?5,000 I hear). The current Boston United chairman is on his holidays leaving Mr Hanby to do his work.There may also be ot
According to today's Echo,:-      BOSTON UNITED'S date with next season's FA Cup is under serious threat after it emerged they may be expelled from the world famous competition.

The Pilgrims have little over a month to convince the Football Association they can meet the financial demands required to take part in the 125-year-old tournament.

The FA are seeking assurances Boston can pay their footballing creditors and also want to see their accounts, which haven't been filed for two years.

Should the Pilgrims fail to meet these demands before the next committee meeting, they will be in breach of competition rules. That is certain to ensure their expulsion from the FA Cup and its non-league little brother, the FA Trophy.

Officials from Boston have remained tight-lipped, but they remain in constant dialogue with the FA about their financial situation.

Their only real hope of staying in both tournaments rests on Standing Alone's takeover being completed.

Former chief executive Barrie Pierpoint is "90 per cent sure" the deal will happen, although negotiations with Lavaflow, the club's holding company, have hit a stumbling block.

It is believed that Lavaflow's demands are far more than Standing Alone are willing to pay, which has put the takeover at risk of collapse.

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howmanynames2pick
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(Date Posted:18/06/2007 23:15:12)

impressed with that Mark!

it has taken awhile for you to give a sensible/non cryptic/proper answer.

as an aside, if the club was sold for 1p to Lavaflow when I am led to believe it had debts of ?50K why is the debt now ?mill.

I know the dates arent correct but the sake of arguement lets say it was 5 years ago ( ah that drizzly day in Hayes!) ie 260 weeks ago.

if the debt has increased by approx ?.75 MILLION, that by my reckoning is  ?0500+ per week!

any clues as to where ?0.5K could go?

Mark Isaac
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(Date Posted:18/06/2007 23:43:31)

Try ?million plus before the CVA and counting.  ?.4 million accruing to Lavaflow allegedly but I have no proof of that debt except that it possibly counts when it comes to voting the CVA through?  And where is Mr Evans much touted contribution and the remortgaged properties even if they were rented?

The back of it is that you run up debts by not paying them either because you are not able to or because the money to pay them is going elsewhere? 

For me personally, it's a question of how much influence did Mr Evans wield in his burning ambition to prove himself as a football league manager with the fall back of achieving planning permission on the Boardsides and a big pay day coming in (provided you did not actually complete the new stadium).  Quite a lot I'd suggest. He's a complex person our Steve, charismatic, ruthless and passionate and that is why a lot of fans were endeared to him.

When the court orders started mounting up for non payment of debts the money ran dry and we were entertained  ad nauseam about smallest budgets in the league and the chairman not approving new signings etc, etc. 

The most damning of all of this for me are the players who have stood up and been counted with their criticisms since they left the club. They have careers ahead of them  which they may have jeopardised as noone  seems to like a whistleblower or a trouble maker (sadly), but they have seen fit to make their views known and bravo to them.

As a minor side issue, and I'm not the only one to have seen evidence of this, there have been some "enforcement" issues also to deal with. I spent an hour  making a statement to Lincolnshire Police about an alleged asault in the Sports Bar which remains on record.  Regrettably no witnesses were prepared to go on record.  Kent police have also been involved with nuisance 'phone calls from a member of the BUFC staff (self-employed perhaps and also categorically denied by Mr Sotnick) and have assured me of a rapid response should I get a "visit" shall we say.

I also "bumped" into the current BUFC chairman at the White hart Hotel in Lincoln. Again no witnesses.

All symptomatic of the cancer that has invaded our football club I suggest.  You make your own judgements. I'm just a fan but one that will not be intimidated.  But I'm not bitter despite the spin that's put out, but maybe I do want to get even by not letting it happen again? smiley

 

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Sussex Pilgrim
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(Date Posted:19/06/2007 00:00:31)

Good post Mark nice to know your views clearly and succinctly..is this a new leaf ?
howmanynames2pick
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(Date Posted:19/06/2007 00:10:53)

why do we (the club)  owe Lavaflow anything?

they made a business decision to buy into a small football club  with the intention of making a profit off a land deal. That  BUSINESS decision appears to have been a bad one. I dont understand how they can simply ask for their ?back.

If Chelsea have a lean spell will Roman ask for all his dosh back? Will he invoice them for "consultacy" fees, is his wife on the books!????

the "small" debtors i understand (and feel sorry for, they owe me ?0 but i didnt make the list!) but the non revenue ones leave baffled/cold/sad/angry.

Mark Isaac
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(Date Posted:19/06/2007 00:21:54)

Reply to : Sussex Pilgrim

Good post Mark nice to know your views clearly and succinctly..is this a new leaf ?

SP, I have my playful moments and my more serious ones.  In that respect I have not changed.  But thank you for your post. :-)

 

PS. Amber, how do I get the smileys to work please?

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grah677
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(Date Posted:19/06/2007 00:40:49)

Reply to : Mark Isaac

Reply to : Sussex PilgrimGood post Mark nice to know your views clearly and succinctly..is this a new leaf ?SP, I have my playful moments and my more serious ones. In that respect I have not changed. But thank you for your post. :-)PS. Amber, how do I get the smileys to work please?

mark BRILLIANT post, you have got a good side and you are obviously in the know as to whats happened at the club, i wish these wankers from lavaflow and SA would leave us alone and let us get proper invesment and get the fans on board to save the club and rebuild our reputation,MARK do you think theres any chance of this embarrasing takeover saga actually ending with SA in charge,

keep up the good posts mark.lol

grah677
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(Date Posted:19/06/2007 00:53:31)

BRILLIANT post mark, you have got a good side to you and you are quite obviously very in th know with whats going on i wish them wankers from lavaflow and SA would leave us to rebuild our club with the help of local businesses and with the fans on board i believe we could rebuild and climb back to where we where and become a respected club again,.

MARK do you think this embarrasing takeover saga will actually end in SA buying the club?

it sounds like theres a few wealthy people interested in taking us on, so hy dont lavalow and SA leave us they have caused  enough shit and embarrasment

keep up the good posts mark,lol

 

Mark Isaac
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(Date Posted:19/06/2007 01:05:40)

I have no answers Grah, only conclusions, sorry! 

For answers may I suggest that you need to approach Mr Pierpoint, Mr Rodwell and  so far, the faceless Standing Alone.

Greed is at the bottom of all this,  not football and certainly not fans who live, breathe and worship it.

I'm not in pursuit of friends or popularity (heaven forbid) but I'll make a point of having my little say and doing my little thing to expose any charlatans.  Kick 'em where it hurts, in the wallet. Could be a new motif, who knows? smiley etc.

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grah677
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(Date Posted:19/06/2007 01:18:15)

yes totally agree with that, we the fans are the ones who are suffering and they dont give a shit about us or the club,

i would gladly contact mr pierpoint and i would certainly love to speak to mr rodwell but i dont have any contact numbers , do you have any to pass on??????

we need to get our club back,just hope something comes of the invesment from mr gosling and of that other article regarding john greenwood, not sure how reliable that one is though??????????

Mark Isaac
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(Date Posted:19/06/2007 01:21:51)

Grah,

Might I suggest you send a letter?

York Street might be a good start by way of address but they move offices so often you can never tell!

smiley x 2

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grah677
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(Date Posted:19/06/2007 01:28:20)

i thought about writing a letter mark but then i thought why waste my time when i doubt very much anyone at the club would reply? its beyond a joke no players no manager and two pathetic parties dragging out the longest takeover in history, as if them wankers from lavaflow deserve a penny?

barrie said things to be resolved in two weeks thats far to long in my opinion, SA WANT TO SORT SOMETHING OUT OR JUST GO!!!

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Mark Isaac
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(Date Posted:19/06/2007 01:34:24)

Write your letter Grah.  Words have a powerful effect, just use a convenient address if you don't want a visit.

It used to happen!

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grah677
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(Date Posted:19/06/2007 01:55:38)

i will write one then and let you all know what reply i get,

it wont be a pleasant letter but they need to know just how poorly the fans have been treated and what a joke the club is!!!!!!!!!

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