Finances

[URZZZZZZZZ]

Can someone tell me where I can get the Profit and Loss accounts for Reading over the last few years? And also, can anyone tell me whether the club is quoted on the main stock market or AIM? Share prices would also be useful!

Thanks!

[Dirk Gently]

Companies House or one of their agents, but you'll have to pay a small fee.

Not quoted anywhere, as not a public company.

[North Somerset Royal]

Can someone tell me where I can get the Profit and Loss accounts for Reading over the last few years? And also, can anyone tell me whether the club is quoted on the main stock market or AIM? Share prices would also be useful!

Thanks!

The RFC companies are not quoted they are privately owned "close" companies. Copies of accounts are available from :

http://direct.companieshouse.gov.uk/

and/or

http://www.snoop4directors.co.uk/

[Hoop Blah]

Just e-mail the club asking for them, maybe with a valid reason.

They will usually send copies out.

[JC]

Can someone tell me where I can get the Profit and Loss accounts for Reading over the last few years? And also, can anyone tell me whether the club is quoted on the main stock market or AIM? Share prices would also be useful!

Thanks!

The RFC companies are not quoted they are privately owned "close" companies. Copies of accounts are available from :

http://direct.companieshouse.gov.uk/

and/or

http://www.snoop4directors.co.uk/

Not quite. They are a plc who just happen to have most of their shares owned by one person

[JC]

Look here

viewtopic.php?f=2&t=94566&st=0&sk=t&sd=a&start=20

[North Somerset Royal]

Can someone tell me where I can get the Profit and Loss accounts for Reading over the last few years? And also, can anyone tell me whether the club is quoted on the main stock market or AIM? Share prices would also be useful!

Thanks!

The RFC companies are not quoted they are privately owned "close" companies. Copies of accounts are available from :

http://direct.companieshouse.gov.uk/

and/or

http://www.snoop4directors.co.uk/

Not quite. They are a plc who just happen to have most of their shares owned by one person

I am afraid JC that as someone who has spent the last 40 years dealing with company accounts and share valuations I have to tell you that you are competely wrong. A "PLC" is a Public Limited Company ie a company quoted on the Stock Exchange in which the shares are available to anyone willing to pay the quoted price. In short owned by the public - hence the title. If you follow the links I provided you will discover that Reading Football Club Ltd is a wholly owned subsidiary of Reading FC (Holdings) Ltd the shares in which are owned mainly by SJM and by less than 5 people in total.
Thus it falls within the definition of a "Close Company" under the Companies Act and the shares do not have a quoted price and can only be sold if the person holding them decides to sell and accepts whatever is offered. Normally the value of a close companies shares is arrived at by taking the net value of its assets and liabilities and adding in 3 years profits. However it is not a precise science and there are other issues that can effect the price particularly with football clubs as players are "wasting assets" ie assets that depreciate as the length of their remaining contract diminishes. At the end of the day the owner (SJM in this case) of a private close company can ask what he likes and it is a question of what the prospective purchaser is prepared to pay.

[Sun Tzu]

If you follow the links I provided you will discover that Reading Football Club Ltd is a wholly owned subsidiary of Reading FC (Holdings) Ltd the shares in which are owned mainly by SJM and by less than 5 people in total.

I may be getting confused here but there are more than 5 RFC shareholders. IIRC when STAR acquired a bunch of shares from Lord Cadogan a few years ago it moved them into the top 10 of shareholders and I know several people who own one or two shares. Perhaps these are in the holding company, although I thought that was a fairly recent creation.

[Royal With Cheese]

I'd love to own a share of RFC.

[North Somerset Royal]

If you follow the links I provided you will discover that Reading Football Club Ltd is a wholly owned subsidiary of Reading FC (Holdings) Ltd the shares in which are owned mainly by SJM and by less than 5 people in total.

I may be getting confused here but there are more than 5 RFC shareholders. IIRC when STAR acquired a bunch of shares from Lord Cadogan a few years ago it moved them into the top 10 of shareholders and I know several people who own one or two shares. Perhaps these are in the holding company, although I thought that was a fairly recent creation.

You may well be right ST. It is possible for companies to issue different classes of share and I have given a very much simplified version of a very complex piece of legislation. However the original point was whether the shares are "Quoted" which they are most certainly not. They are not listed on the Stock Exchange and the RFC companies are not PLC's. For a start if they were they would have to include that designation in the title and it would appear as Reading Football Club PLC and not Ltd as it does.

[Fox Talbot]

There's only one type of share which I think is in the holding co.

Madejski owns about 97% of the issued share capital and the rest in split between probably not more than 200 people.

Madejski would be within his rights to compulsorily purchase all the shares he didn't own and I wouldn't be surprised if that's what the next owner did.

[Dirk Gently]

Quite right, FT, and every few years SJM has exercised his right to buy up any dormant shares (where the owner is unknown, etc) but he's not gone as far as a forced-buyout of all shares as yet.

He could if he wanted to, though.

[North Somerset Royal]

I have now looked at the last return made to Companies House which shows :-

THE READING FOOTBALL CLUB LTD
Company Type : Private Company limited by shares
Class of shares: ordinary
No. of shares issued 1,500,000
Nominal value: GBP 750,000
Directors RJ Madjeski, I M Wood-Smitrh
Company secretary B Barber

Shareholders: Reading Football Club Holdings No. held 1,500,000

The holding company has issued 4,466,734 ordinary shares to a total of 291 shareholders. JM owns 4,400,364 of these with the only other significant holding being 45000 owned by a John Hubert. Otherwise all other shareholders have small numbers many only having a single share. The directors and secretary are as for the subsidiary.

[Quagmire]

Madejski owns about 97% of the issued share capital and the rest in split between probably not more than 200 people.

I think there are around 15-20 of us. I believe I am the youngest, JM thought I was press at my first AGM considering the next youngest there was at least 30 years older than me.

[Fox Talbot]

I have now looked at the last return made to Companies House which shows :-

THE READING FOOTBALL CLUB LTD
Company Type : Private Company limited by shares
Class of shares: ordinary
No. of shares issued 1,500,000
Nominal value: GBP 750,000
Directors RJ Madjeski, I M Wood-Smitrh
Company secretary B Barber

Shareholders: Reading Football Club Holdings No. held 1,500,000

The holding company has issued 4,466,734 ordinary shares to a total of 291 shareholders. JM owns 4,400,364 of these with the only other significant holding being 45000 owned by a John Hubert. Otherwise all other shareholders have small numbers many only having a single share. The directors and secretary are as for the subsidiary.

I hope these numbers are more accurate than the spellings! Every name spelt wrong. Madjeski Smithrh! Barber Stabler surely.
Who is this John Hubert?

[Fox Talbot]

Actually John Hubert's probably also a spelling mistake too!

[North Somerset Royal]

Actually John Hubert's probably also a spelling mistake too!

Sorry should have said John Hubert Fisher. PDF viewer cut off first column with surnames!

[SWLR]

I am afraid JC that as someone who has spent the last 40 years dealing with company accounts and share valuations I have to tell you that you are competely wrong. A "PLC" is a Public Limited Company ie a company quoted on the Stock Exchange in which the shares are available to anyone willing to pay the quoted price.

Hmm 40 years experience and still wrong. A PLC does not need to be quoted on a stock exchange. There are many privately controlled PLCs, can't recall why it is the right model vs a Limited company, but I'm sure you will research and advise.

[Wycombe Royal]

A PLC does not need to be quoted on a stock exchange. There are many privately controlled PLCs,

Correct, as long as they have share capital they can register as a PLC. The minimum share capital required is £50k. THe share do not need to be publicly quoted.

Apparently being a PLC gives a firm "extra financial status".

[Dirk Gently]

A PLC does not need to be quoted on a stock exchange. There are many privately controlled PLCs,

Correct, as long as they have share capital they can register as a PLC. The minimum share capital required is £50k. THe share do not need to be publicly quoted.

Apparently being a PLC gives a firm "extra financial status".

Perhaps - but we're still not one.