Torquay United Fans Forum

[quote="PhilGull"]I guess that list just isn't very up to date. Either they were transferred else where or The Queen now owns 170506 shares in TUFC!

"Before a company is dissolved, its members should ensure that any assets owned by the company are dealt with and transferred out of the company's ownership. If this is not done, all remaining assets, but not the liabilities, at the date of dissolution will pass into the ownership of the Crown (under Section 1012 of the Companies Act 2006) as ownerless property or 'bona vacantia'."
https://www.nibusinessinfo.co.uk/content/what-happens-company-assets-when-company-dissolved[/quote]

Picture this. The Queen and the Duke are sat with their corgis watching Strictly. The Queen says "Ones subjects are revolting again. This time it is about having to pay for repairs to Buckingham Palace out of their taxes. Whatever next? Don't they realise that is why they pay taxes? Do they want us to be homeless and move to somewhere like ...... Windsor?"
"Yes, dear" replies Phil, more interested in Louise Rednapp's long legs.
"I suppose one could sell one's 170506 shares in Torquay United towards the billions the repairs are going to cost" says the Queen "Does one's subjects still play football in Torquay?"
"Yes dear, they very occasionally play a bit of football but it doesn't happen very often" replies the Duke "But the shares are bliddy worthless - in fact, they want someone to BUY the club"
"Well, don't look at me" says Elizabeth "I lost all my money in the 3.30 at Goodwood"
"I'm not looking at you, dear" replies the duke "I'm looking at Loui ....... er, one of the corgis".
apologies for all that. I'll keep taking the tablets !!

You skinflint Wivelgull, I doubled my money a few years ago so I have 10 billion Reichsmark's worth myself! If we put our two offering together we still don't have a casting vote though.

My £100 TUFC share (bought during the Bateson era) is now worth as much as a 5 billion Reichsmark note of 1924.

[quote="PhilGull"]I guess that list just isn't very up to date. Either they were transferred else where or The Queen now owns 170506 shares in TUFC!
[/quote]

Phil is correct.

The Queen owns 17% of Torquay United.

Mick Sadler was entitled to claim these shares when Roberts' company was dissolved, but did not bother as the shares are worthless.

I guess that list just isn't very up to date. Either they were transferred else where or The Queen now owns 170506 shares in TUFC!

"Before a company is dissolved, its members should ensure that any assets owned by the company are dealt with and transferred out of the company's ownership. If this is not done, all remaining assets, but not the liabilities, at the date of dissolution will pass into the ownership of the Crown (under Section 1012 of the Companies Act 2006) as ownerless property or 'bona vacantia'."
https://www.nibusinessinfo.co.uk/content/what-happens-company-assets-when-company-dissolved

I'm by no means an expert on this, I do own shares in other PLC's though. Does it not matter if the company is dissolved, an individual can still hold shares in a company as I do? So they could have been transferred to personal ownership.

[quote="Jerry"]

Chris Roberts.[/quote]

God knows how any of this works, according to Companies House Torquay United Holdings Ltd were dissolved on 9th December 2008. https://beta.companieshouse.gov.uk/company/05132542

[quote="gullpower"]
- 683rd on the list is Torquay United Holdings Ltd who own 170506 shares - who are they?[/quote]

Chris Roberts.

[quote="Kit_robin"]

The rest of TUFC is owned by hundreds of ordinary people owning from 1 share to thousands. If you go to companies house and look at the latest annual return you can see the full list of shareholders. https://beta.companieshouse.gov.uk/company/00175954

Torbay council own the land and we are tenants, the actual infrastructure (stands etc. ) belong to the Tennant.[/quote]

Thanks. The return though posed more questions which I wondered if you know the answers to.
- What is the origin of this hotchpotch of 761 shareholders?
- Are the shares of any value? Or, how does one go about finding out the value? I can't imagine the dividends paid amount to much.
- Can these shares be bought?
- 683rd on the list is Torquay United Holdings Ltd who own 170506 shares - who are they?

[quote="Neal"]So who owns the club? Bloody mess[/quote]

Jon answered this above.

TUFC is owned by its shareholders. In my post above I mentioned how you can view the shareholders.

As plainmoor limited own the majority of shares in TUFC they control the club. jon highlighted the share structure of plainmoor ltd already.

[quote="gullpower"]So who owns the other 25% of Torquay United Association Football Club Limited?

Am I right in thinking that Torbay Council owns the land on which the ground stands?

I take it that the stadium is owned by TUAFC Ltd.[/quote]

The rest of TUFC is owned by hundreds of ordinary people owning from 1 share to thousands. If you go to companies house and look at the latest annual return you can see the full list of shareholders. https://beta.companieshouse.gov.uk/company/00175954

Torbay council own the land and we are tenants, the actual infrastructure (stands etc. ) belong to the Tennant.

So who owns the club? Bloody mess

So who owns the other 25% of Torquay United Association Football Club Limited?

Am I right in thinking that Torbay Council owns the land on which the ground stands?

I take it that the stadium is owned by TUAFC Ltd.

Plainmoor Limited owns just under 75% of Torquay United Association Football Club Limited.

Thea Bristow, Dave Phillips, Mervyn Balson, Harry Kerswell and Angela Richards each own 20% of Plainmoor Limited.

Phillips, Balson, Kerswell and Richards did not pay for their shares. They were gifted to them - the spirit of the deal being that they would be "custodians" of the club.

Legally, they can do what they want with the shares. Morally, they cannot.

I'm reading BTPIR and I'm confused. I've seen mention of 'Torquay United Pheonix Ltd', 'Plainmoor Limited' and 'Torquay United Football Club Limited' as well as Thea Bristow and the current board members. Does anyone actually know which shares lie where and what or who owns what?
There is also Plainmoor, I'm sure I remember from the Bateson days that the Council owned 50% and the club 50%.