CONFRIMATION of the CONFIMRED

[rabidbee]

It’s kinda strange there has been nothing official from the club about the new investment. Despite them announcing it on LinkedIn about a week or so ago. I would have thought there would have been some sort of statement

Because it is subject to FL approval ?

I guess that would depend on the basis of the investment. Do EFL have to approve all investors even if they might only have a small shareholding, if any at all?

https://www.efl.com/governance/acquisit ... tors-test/

Who does it apply to?

• Directors of the Club
  
• Directors of any associated, parent or group companies
  
• Shadow Directors
  
• Individuals who, while not under a formal title, may be exercising influence over the Club acting on behalf of a ‘controlling party’
  
• Any person/s exercising “Control” over the Club.

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What is Control?

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A shareholding of 25% or more in the Club is automatically considered to be Control, but Control can also include the ability to appoint and/or remove a majority of the members of the board of directors of the Club (regardless of their shareholding), and the EFL will also consider whether the level of influence that a Person has at the Club also suggests that they have Control of the Club.

The Regulations also allow the League to consider shareholders holding less than 25% if they are acting “in concert” with others and together they go over 25%, and the definition of ‘control’ also applies to persons who have been given the authority to give directions or instructions which the Club’s management are accustomed to act in accordance with.