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Pompey Takeover Saga


Fitzhugh Fella

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As for turning the lights on at the start of the day and off at the end has no one told him all the light bulbs down at Fartton have been set to automatic dim for a few months now.

 

Steve - seriously have you thought about making this thread into a book - all the profits could be used to buy them and finally put them out of their misery.

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It simply is NOT going to happen.

 

Now IF AA is pushing this as viable then he really is NOT a very well experienced Businessman

 

http://usequities.nyx.com/amex-equities-regulation/listed-company-compliance/listing-standards

Foreign Applicants

Foreign issuer applicants who do not meet the distribution guidelines outlined above may alternatively qualify with 800 round-lot public shareholders worldwide, 1 million publicly held shares worldwide and a $3 million market value of public float worldwide.

Initial Public Offerings

In certain circumstances, the NYSE Amex may approve an issue for listing "subject to official notice of issuance" immediately prior to effectiveness of the issuer applicant’s initial public offering. While the

Exchange has not adopted special criteria for IPOs, added emphasis is placed on the company’s financial strength, including an objective evaluation of the anticipated value and offering price, and its demonstrated earnings history and/or outlook.

Qualitative Standards

In evaluating listing eligibility, the Exchange also considers qualitative factors such as the nature of a company's business, market for its products, reputation of its management, historical record and pattern of growth, financial integrity, demonstrated earnings power, and future outlook.

The Exchange also considers the laws, customs and practices of the applicant's country of domicile regarding matters such as the election and composition of the board of directors, issuance of quarterly earning statements, shareholder approval requirements, and quorum requirements.

Corporate Governance Standards

The NYSE Amex requires listed companies to adhere to its corporate governance standards. Questions should be directed to the Listing Qualifications department at 212-656-4217. For new rules click on Corporate Governance.

 

 

 

http://en.wikipedia.org/wiki/Initial_public_offering

[h=2][edit] Quiet period[/h]Main article: Quiet period

There are two time windows commonly referred to as "quiet periods" during an IPO's history. The first and the one linked above is the period of time following the filing of the company's S-1 but before SEC staff declare the registration statement effective. During this time, issuers, company insiders, analysts, and other parties are legally restricted in their ability to discuss or promote the upcoming IPO (U.S. Securities and Exchange Commission, 2005).

The other "quiet period" refers to a period of 40 calendar days following an IPO's first day of public trading. During this time, insiders and any underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company. Regulatory changes enacted by the SEC as part of the Global Settlement enlarged the "quiet period" from 25 days to 40 days on July 9, 2002. When the quiet period is over, generally the underwriters will initiate research coverage on the firm. Additionally, the NASD and NYSE have approved a rule mandating a 10-day quiet period after a Secondary Offering and a 15-day quiet period both before and after expiration of a "lock-up agreement" for a securities offering.

 

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Other than Chanrai, who are CSI's other creditors? You know, the ones on whose behalf AA is working to maximise their return. Just like he did for all the PFC creditors.

 

Well CSI owe the people they bought North One Sport from £3M

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As for turning the lights on at the start of the day and off at the end has no one told him all the light bulbs down at Fartton have been set to automatic dim for a few months now.

 

Steve - seriously have you thought about making this thread into a book - all the profits could be used to buy them and finally put them out of their misery.

I genuinely wouldn't know where to start :lol:

 

On a continuing note: "@solentsport #pompey Attempts to bring back West Brom's Joe Mattock for a 2nd spell on hold. Baggies have a number of injuries at the moment" - yes, West Brom do have some injuries right now, but none of them appear to be at left-back :suspicious:

 

Incognito transfer embargo, anyone? :ninja:

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I asked a couple of questions about the transfer embargo on the webchat yesterday - Neil Whatshisface basically confirmed it was in place but wasn't officially an "embargo". Rather, the Football League are just not allowing them to sign any players.

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I genuinely wouldn't know where to start :lol:

 

On a continuing note: "@solentsport #pompey Attempts to bring back West Brom's Joe Mattock for a 2nd spell on hold. Baggies have a number of injuries at the moment" - yes, West Brom do have some injuries right now, but none of them appear to be at left-back :suspicious:

 

Incognito transfer embargo, anyone? :ninja:

 

 

ooh...the latest from @Solentsport

 

'chief executive David Lampitt exclusively tells us there are a number of interested parties pursuing interest in taking over club'

 

George, Zippy and Bungle?

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I asked a couple of questions about the transfer embargo on the webchat yesterday - Neil Whatshisface basically confirmed it was in place but wasn't officially an "embargo". Rather, the Football League are just not allowing them to sign any players.

So an embargo then :lol:

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There is another group

I can guarantee that there is no honest businessman in the world, with a scrap of intelligence, that believes buying Pompey is a good investment. I also believe that this month will see the end of the nightmare and fantasy and this thread will be liquidated soon, along with your sorry club. I mean, just how many crooks and care in the community fantasists are there?

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Way too many links to Italy.

 

Now totally unrelated, what was that article I saw yesterday in the Torygraph?

 

oh yes

 

http://www.telegraph.co.uk/finance/financialcrisis/9006027/Mafia-is-Italys-biggest-business.html

 

I was wondering the very same thing, perhaps with his Sicilian background he may have some family way way above him with some of that 82m euro profits to clean/convert into stable currency!

 

If I was any of these organisations that had paid for due diligence investigations I would be looking if there was actually information in the public domain (rumafia?) that means CSI should not have passed due diligence. I suspect the companies paid to do the investigations are a bit nervous right now.

 

http://www.ir.lv/upload/simple_file/2011_01/76/krollreport_antonov.pdf

 

If these agencies have assured North One TV etc that Vladimir is sound on the back of the Kroll report then they are insane, it clearly demonstrates he is one incredibly dodgy character, regardless of the RUMafia site which is detailed and spot on everytime... also regardless of the FBI, FSA, EIB, General Motors, Sweedish gov't etc...

 

I would sue whatever agency who confirmed he is 'clean' for the amount im due to lose through the laundering exercise...

 

Totally.

 

As an example. I have spent the past 10 months working with US Corporate M&A lawyers. It takes them FOREVER due to SEC & Due Dilligence requirements.

 

One simple and classic requirement is the need to file the last 3 years Audited Accounts as part of the Duty of Care to the Shareholders of the Acquiring Company............

 

Now, where did they put those? ROFL

 

And he proposes launching on the NYSE inside 3 weeks?

 

PMSL... the skates in an IPO... that is probably the most bonkers idea yet! The transparency would kill them! Let alone the HUGE costs of meeting PLC auditing, reporting and dilligence - NO chance! (although id love it to happen)

 

Is the IPO in 3 weeks to raise some cash to pay the January wage bill? PMSL

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So what has happened at Salernitana? This real live Italian football club is probably his blueprint for Pompey. Seems like Cala was booted out as President in February this year after 7 months. Cala doesnt appear to have invested as he promised. Lots of vids on the web which appear to be critical, but my Italian isnt up to working out what has gone on.

 

Cala new President press conference:

Cala: I dont have 16m of debts. http://www.resport.it/lega_pro/salernitana_cala_non_ho_16_milioni_debiti_lombardi_scorretto.aspx

 

I'll have a look later when I have time.

 

Steve Grant - ta for email, sorted online yesterday so check yr account.

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If he wants to chuck £50m at a football club, then why not everton?

 

Much better bet than Pompey (they even own their own ground!)

because Kenright wouldn't sell to this chump. Chumps like Cala can only buy clubs that no one else want.
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I can guarantee that there is no honest businessman in the world, with a scrap of intelligence, that believes buying Pompey is a good investment. I also believe that this month will see the end of the nightmare and fantasy and this thread will be liquidated soon, along with your sorry club. I mean, just how many crooks and care in the community fantasists are there?

 

I thnk Chainrai will pull something out of the bag, after all he's still got parachute payments to ge hold of first ;)

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I thnk Chainrai will pull something out of the bag, after all he's still got parachute payments to ge hold of first ;)

 

Couldn't the Premier League freeze the remaining parachute payments if they believe they are not destined to be used for the purpose for which they are intended?

 

I hereby submit my application for the annual SWF daft question of the year award.

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http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/fans_cautious_over_joseph_cala_s_pompey_plan_1_3413466

 

FANS have given a cautious welcome to Sicilian businessman Joseph Cala’s plans to buy Pompey.

Today The News reported Mr Cala’s claim that he is the frontrunner to take over the embattled club after its parent company Convers Sports Limited (CSI) went into administration.

Despite administrator Andrew Andronikou remaining tight lipped about any potential deal, the 50-year-old said he had been won over by the passion of fans and believes he could become the new owner within days.

Colin Farmery, editor of TrueBlueArmy.com, said: ‘I think Mr Cala has some interesting things to say. It’s always good news when people are interested in buying football clubs.

‘It shows there is interest out there but we’ll have to wait and see whether his business credentials stack up.

‘He’s got a public CV out there, which he seems to suggest isn’t the full breadth of his experience, so ultimately we’ve got to wait and see.

‘The admin have got the job of establishing whether he’s all that he says he is, so we need to put our faith in the admin to do this job.’

But SOS Pompey member Bob Beech said he wasn’t convinced and fans had had heard everything Mr Cala has said before.

He said: ‘I don’t know enough about the man to make a judgement yet.

‘Some of the fans have their concerns, and as usual the proof of the pudding will be in the eating.

‘My question to anyone who wants to buy Pompey is always why? What’s in it for you?

‘The club is in an absolute mess and that won’t be sorted out over night.

‘We will wait and see, but my advice to other fans would be: lets not hang the flags out just yet.’

His SOS Pompey colleague Brendon Bone was more optimistic, and added: ‘It’s a case of wait and see, and hope the admin make the right decision.

‘Just wait and see how this guy turns out, there’s no point making breakneck decisions.’

‘Fingers crossed that he is the right man to take the club forward.’

 

[h=3]brendon[/h] Thursday, January 12, 2012 at 01:25 PM

 

As has happened on a few occasions, I was completely misquoted. I wasn't even contacted by Joe Nimmo, I was contacted by what sounded like a new girl. I never said for one minute I was optimistic, I said that we should "wait and see, the administrators haven't confirmed that Mr Cala is even bidding for the club" I know nothing of Mr Cala, other than what the News have written today, but like all other fans, we are all in the dark as to the future. My fingers crossed comment, was that the Administrators find the right people, not that the right person is Mr Cala.

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Colin Farmery, editor of TrueBlueArmy.com, said: ‘I think Mr Cala has some interesting things to say. It’s always good news when people are interested in buying football clubs.

You would have thought that after all these years, Colin Farmery would have learned his lesson by now :uhoh:

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Join The News’ reporter Rory McKeown for thirty minutes of chat regarding Pompey’s prospective new owner Joseph Cala.

 

Rory will answer as many questions as he can from 3pm,

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/pompey_web_chat_with_rory_mckeown_1_3413672

 

Bugger. I've got a client coming to see me at 3pm - anyone else want the 'DavetheRave' moniker for today? :lol:

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[TD=class: chatmsgtime, bgcolor: #F6F6F6]15:14[/TD]

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[TD]Rory McKeown:

Mr Cala said he wants to turn Pompey into a top four Premier League club if his bid is successful. He claims he would have no problem generating the cash to build a new stadium and added he would sit down with the manager and discuss what is needed to aim for promotion. Remember, this is if he is successful.[/TD]

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:lol:

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Yay...someone got one through....

 

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[TD][Comment From Toastie : ]

Hi Rory. As far as I can see, Cala Corp's financial background does not appear strong enough to justify a credible bid. Are these people being put forward as a decoy to discourage the Football League from making a points deduction?

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Yay...one of mine just got through....

 

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[TD][Comment From Henry : ]

Why has Mr Cala chosen Pompey above all other clubs that are available? Did he look at other clubs before settling on us?

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[TD]Rory McKeown:

He said he wants to run a football club. Following his short stint at Salernitana last year, Mr Cala said he looked at buying clubs in England and Italy, but chose to head for England due to the passionate fan base. As reported in today's story, Mr Cala was at the Southampton and Chelsea games and it appears his heart is set on Pompey because of the passionate fans.[/TD]

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Ask a stupid question Trousers! :lol:

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[TD]Rory McKeown:

He said he wants to run a football club. Following his short stint at Salernitana last year, Mr Cala said he looked at buying clubs in England and Italy, but chose to head for England due to the passionate fan base. As reported in today's story, Mr Cala was at the Southampton and Chelsea games and it appears his heart is set on Pompey because of the passionate fans.

 

Hurray for the passionate fans!!!!!![/TD]

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[TD][Comment From Pompeyman : ]

Hi Rory. Do you know why Mr Calla has confirmed his interest in PFC, when AA has said he himself has signed a confidentiality agreement?

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Thursday January 12, 2012 15:32 Pompeyman [/TD]

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[TD]Rory McKeown:

Mr Cala said he was very surprised his name had been leaked but was happy to talk to me and confirm his interest. [/TD]

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Hmmm.....

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[TD][Comment From Denmead Dave Denmead Dave : ]

Mr Cala is clearly a wealthy man Rory. Can you advise where he has earnt his fortune?[/TD]

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Thursday January 12, 2012 15:37 Denmead Dave [/TD]

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[TD]Rory McKeown:

From our conversation, Mr Cala wouldn't go into too much detail about how his personal wealth was generated. But he said his background is in the hotel industry and has experience in making private companies public. His words were his wealth was generated through a 'combination' of things.[/TD]

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:lol:

 

I thought he was advocating transparency....?

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15:38 Rory McKeown:

From our conversation, Mr Cala wouldn't go into too much detail about how his personal wealth was generated. But he said his background is in the hotel industry and has experience in making private companies public. His words were his wealth was generated through a 'combination' of things. ... remind you of any recent owners :rolleyes:

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