Finances

[Comfortably Numb]

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.

even though NSR said "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"



confusing

[Dirk Gently]

confusing

Why? What part of me saying "we're not one [a PLC]" is confusing you?

[SWLR]

confusing

Why? What part of me saying "we're not one [a PLC]" is confusing you?

PRIVATE vs PUBLIC.. both begin with a P, otherwise not confusing at all.

[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".

Perhaps - but we're still not one.

Reading Football Club Holdings plc

http://www.readingfc.co.uk/page/NewsDetail/0,,10306~1196406,00.html

Have they changed it back to "Ltd" some time after that article?

[JC]

No it is just that people on here do not bother to check. There is a Reading Football Club Ltd but there is a Reading Football Club(Holdings) plc. This is the top level holding company and as far as I am concerned it is the only one that matters. Oh, and it is a plc.

[Harpers So Solid Crew]

http://www.readingfc.co.uk/page/NewsDetail/0,,10306~1196406,00.html

Have they changed it back to "Ltd" some time after that article?

Interesting that in that article JM states that we made a profit in the first season that covered the loss from 05/06, tho later said tha there was actually no profit made despite the figures showing one.

[URZZZZZZZZ]

Ive actually got a copy of the financial report for RFC. In the P&L account would the non-trading income include transfer fees? There's over 16 million accounted for in this part, its all I can think of.

[JC]

I produced a brief analysis here

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

[JC]

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.

Still waiting for an apology

[URZZZZZZZZ]

Sorry

[brendywendy]

http://www.readingfc.co.uk/page/NewsDetail/0,,10306~1196406,00.html

Have they changed it back to "Ltd" some time after that article?

Interesting that in that article JM states that we made a profit in the first season that covered the loss from 05/06, tho later said tha there was actually no profit made despite the figures showing one.

thats because it only covered the previous loss.


and the statement saying we didnt make a profit was covering two years in the prem, not just the first one