POLL: We want option to buy, sell or transfer our shares

POLL: We want option to buy, sell or transfer our shares

Poll ended at Fri Sep 26 2014 10:46pm

YES
9
45%
No
11
55%
 
Total votes: 20

superman
Posts: 7377
Joined: Wed Mar 23 2011 10:07pm
Has thanked: 269 times
Been thanked: 354 times

POLL: We want option to buy, sell or transfer our shares

Post by superman » Tue Aug 26 2014 10:46pm

Following on from this thread:
viewtopic.php?p=108927#p108927

It would be very beneficial to imutual shareholders to be able to buy, sell and transfer their shares.

Thoughts as always welcome.

superman
Posts: 7377
Joined: Wed Mar 23 2011 10:07pm
Has thanked: 269 times
Been thanked: 354 times

Re: POLL: We want option to buy, sell or transfer our shares

Post by superman » Tue Aug 26 2014 10:48pm

100% yes ;)

kevinchess1
Posts: 23770
Joined: Mon Jun 28 2010 11:02pm
Location: Miles away from the sea
Has thanked: 12599 times
Been thanked: 17167 times
Contact:

Re: POLL: We want option to buy, sell or transfer our shares

Post by kevinchess1 » Wed Aug 27 2014 7:20am

and now it's 33%
Thanked by: blythburgh
Politically incorrect since 69

richard@imutual
Posts: 6164
Joined: Wed Jun 23 2010 10:19am
Sharing: 2stars.png
Has thanked: 1880 times
Been thanked: 4097 times
Contact:

Re: POLL: We want option to buy, sell or transfer our shares

Post by richard@imutual » Wed Aug 27 2014 8:39am

Before people start voting, it might be best to have a more detailed discussion of the idea

To repeat my comment from the previous thread:
On the separate suggestion of being able to sell or transfer shares to others. This does have some merit, but has significant legal implications. When we drafted the original T&Cs and shareholder agreement, we needed a model which avoided any legal / regulatory complications and made the company as easy to adminster as possible.
Can someone spell out exactly how this would work:
- are we talking about floating the company or creating some kind of internal trading systems
- If the latter, how do we do this and what are the legal / regulatory implications
- What would be the costs (esp. legal) of setting up and maintaining the process
- What would the benefits be? Is there any evidence of demand for the shares at this stage?
Thanked by: blythburgh, superman

Richard Frost
Posts: 13232
Joined: Tue Jun 29 2010 8:14pm
Location: The Isle of Dreams
Has thanked: 2874 times
Been thanked: 6862 times

Re: POLL: We want option to buy, sell or transfer our shares

Post by Richard Frost » Wed Aug 27 2014 8:42am

The correct place for this would be an AGM. By all means have the discussion. But I will not be voting at this stage!
Thanked by: blythburgh, macliam, Kelantan

an6ypan6y
Posts: 98
Joined: Fri Jul 02 2010 2:03pm
Has thanked: 59 times
Been thanked: 116 times
Contact:

Re: POLL: We want option to buy, sell or transfer our shares

Post by an6ypan6y » Wed Aug 27 2014 9:14am

superman wrote:Following on from this thread:
viewtopic.php?p=108927#p108927

It would be very beneficial to imutual shareholders to be able to buy, sell and transfer their shares.

Thoughts as always welcome.

I must be missing something fundamental here. The share base is added to with purchases or activities by members, as far as I know there is no set share base - ie: no. of shares in issue which would enable a value to be placed on iMutual, so any valuation is guesswork at best.

You are talking about trading iMutual shares - they have no value, so why would you want to do that. It seems that Richard has inadvertantly come up with a commodity with no value that certain members are willing to pay for or think they can sell- well done Richard !

I'm not having a pop at Superman but I would love to be enlightened as to where the value lies in introducing this option other than to waste valuable Admin time and resources. I do not believe that the concept of a company owned by its (active) members as was the initial vision for iMutual is in any way being served by these discussions, again, please enlighten me.

blythburgh
Posts: 17737
Joined: Tue Jun 29 2010 7:14pm
Location: The Far East
Has thanked: 35005 times
Been thanked: 6106 times
Contact:

Re: POLL: We want option to buy, sell or transfer our shares

Post by blythburgh » Wed Aug 27 2014 9:20am

For once I am in total agreement with Torus. Major changes to the company should be decided at an AGM and like all publicly listed companies it has to be one share equals one vote. Not one person one vote.

I vote to ignore the voting process on this one
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

richard@imutual
Posts: 6164
Joined: Wed Jun 23 2010 10:19am
Sharing: 2stars.png
Has thanked: 1880 times
Been thanked: 4097 times
Contact:

Re: POLL: We want option to buy, sell or transfer our shares

Post by richard@imutual » Wed Aug 27 2014 10:15am

Just a point of clarification on the AGM...

Although I'm happy to field questions from members during the webcast, the only business that can be properly discussed and voted on is that which has been laid out in the notice of meeting. If you wanted to vote on a specific proposal, there are two ways of going about it:

1) Persuade the directors to include said resolution
2) Submit a members resolution (which would require a written request from shareholders representing at least 5% of votes)

(1) is by far my preferred route, being more efficient and less confrontational. But I'd need to persuaded that the resolution has merit and is appropriate for an AGM. Proposed rule changes are an appropriate matter for AGM resolutions; suggesting development priorities is not.

Oh, I forgot about the third option. Vote me out as a director and vote in someone else who you think will do a better job :shock:

So in defence of the OP, I think this kind of a forum post IS actually the best way of discussing this particular idea. I just think the poll is very premature, as the details haven't really been fleshed out :|

Richard Frost
Posts: 13232
Joined: Tue Jun 29 2010 8:14pm
Location: The Isle of Dreams
Has thanked: 2874 times
Been thanked: 6862 times

Re: POLL: We want option to buy, sell or transfer our shares

Post by Richard Frost » Wed Aug 27 2014 10:19am

Personally I do not see the proposal here as a development priority. But a fundamental change to the ethos and spirit of imutual. My preferred option is for it to be voted on at an AGM. How the proposers get it included at an AGM is up to them.

xrppzi
Posts: 928
Joined: Wed Oct 26 2011 10:39am
Location: North Yorkshire
Has thanked: 132 times
Been thanked: 505 times
Contact:

Re: POLL: We want option to buy, sell or transfer our shares

Post by xrppzi » Wed Aug 27 2014 11:05am

Having been clicking on various sites for some 15 years now, I have lost count of the number of shares I have been allocated and have subsequently lost when sites went bankrupt. While I am not suggesting that iMutual will go the same way, it is ridiculous to start speculating about buying and selling shares until they have a monetary value. Incidentally, I have also lost stock market listed shares when a football club company was reorganised and all small stakeholders accounts were deemed to be too expensive to run, so they were all lumped together and given to the supporters' club - and yes, they could do that!

We seem to have lost the ethos of a mutual society where all is set up for the common good in favour of "what's in it for me?" and "how much can I make out of this?" The cashback that this site offers is what we are here for - the shares, one day, may be a bonus. If so, that's the time to start debating these questions.

Post Reply

Who is online

Users browsing this forum: No registered users and 10 guests