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One of the ideas put forward by Jon Hale and his business partners is that should a 'new Hereford United' be formed 'no single investor would be able to secure a significant share holding'.
The idea that no one person could have overall control of the club isn't new.
It was suggested at a shareholders meeting that no one should own more than 25% of the shares in the club. However non-excutive director Colin Addison strongly opposed the idea suggesting that it might put off investment in the club and the idea wasn't voted on.
Chairman David Keyte owned well over 25% of the club when he sold his shareholding to Tommy Agombar.
Had there been a 25% limit, Keyte and Nick Nenadich couldn't have sold Agombar a controlling stake in the club.
BN pointed out in an e-mail to Stuart Blake dated July 2013 that the way the Share Issue was set out chairman David Keyte could more than 25% of the club.
If the issue goes ahead the chances are that the chairman could own 40%, perhaps more of the shares - up from his current 15% or so.
Later in an interview with BBC Hereford and Worcester Keyte was asked about views on various websites.
At one level you have to accept that everyone is entitled to their opinion but once again some of the speculation and inaccuracy expressed in what is a legal, formal domain of corporate rules/’insider knowledge’ etc. is a major concern to us.
For instance I have read that I personally will end up with 40% of the company.
