Northbound A1
Please try and stop using this forum for your rants as you are making yourself look ridiculous. Your business knowledge appears around nil, and your extrapolation of facts to form your own conclusions is equally embarrassing.
On the positive side then "mmeteesside" has set out the ownership sums quite clearly.
SWBKCB
or it was 25% before the dilution exercise - presumably with the sale this isn't going ahead?
Are you sure ????
It IS Peel Airports Limited "Peel" who wish to dispose of their 75% stake, this is why there was an earlier press article as to why Peel were looking to place pressure on the remaining 25% shareholders (the 6 surrounding Local Authorities) by placing a “Dilution Notice” as to their shareholding presumably in an attempt to call their bluff. Conveniently then one presumes (I have not read any press to the contrary), the Local authority indicated that they are "unable" to contribute the required £4.3 million injection of further funds. Such an action would nullify any criticism of Peel by the Local Authorities, who when faced with a choice of "put up or shut up" can do very little to criticize Peels action in choosing to place the airfield up for sale.
The dilution notice would if not responded to then reduce the Local Authorities shareholding down from 25% to 10.8%!!
N.b. before all go shouting “Foul” the idea of a dilution notice is to ensure that all shareholders have a right to retain their interest in a company when it is deemed appropriate to make a cash call, in doing the maths, then for DTV to be required to inject £4.3M, then Peel would inject £12.9M. The clever part is of course as to where the Local Authorities would need to raise “Cash” it is potentially possible that Peel would be able to carry out “Internal reclassification” of existing assets from within the Group to support their contribution.
I am unclear as to whether this notice was effected by Peel prior to placing DTV up for sale, though IF it were, then Peel would effectively now own 89.2% of DTV !, though to be fair even 100% of nothing is nothing !!
In conclusion you may now all be way off the mark in that
it may be that Peel may now own
89.2% of DTV !!