So in effect, there's no need to declare anything as there are no individuals with more than 10% ownership. The only time we would need to make any disclosure is when there is a change of ownership - at which point Ken and his web of trusts and holding companies will be out of the frame, replaced by sheikh/oligarch/despot or whoever wants on to the gravy train. Mark
>>I think you need to read the ownership statement very carefully in conjunction with the new FL rules. Note that the FL rules now require a club to publish owners of 10% or more of the shares in that club. There are five shareholders in Leeds City Holdings, only FSF holds more than a 10% shareholding. FSF is incorporated in Nevis and owned by Chateau Fiduciaire. Chateau Fiduciaire (CF) is owned in a 3 way split by three trusts whose sole purpose of investing in CF was to invest in Leeds United. The trusts are owned by beneficiaries, who can only be identified by the level of benefit attributable to them. However none of the beneficiaries are entitled to 10% of the shareholding of FSFs shares in Leeds. The trustees of CF have appointed management shares to Ken, who has in turn appointed Patrick Murrin and Peter Boatman to hold them for him. They carry full voting rights but no equity. Note that this does not mean these people have no equity in Leeds, it's just not conferred by these management shares. Therefore we still won't know who owns us.<< _______________________________________________ Leedslist mailing list Info and options: http://mailman-new.greennet.org.uk/mailman/listinfo/leedslist To unsubscribe, email [email protected] MARCHING ON TOGETHER
