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BWFC (or Burnden Leisure PLC) are becoming a limited company.
First of all this means that the 6000-odd shareholders we have will be shafted as these shares will become non-existent, not that they were worth much anyway, if anything, but thats not the point, they still bought shares for a piece of the club they love. I know it will have to go to a vote at the AGM but lets be honest, Eddie Davies will find a way to do what he wants.
What concerns me more is WHY is he doing this? The only real 'advantage' if you can call it that is that the accounts will not be as freely available - they obviously can be purchased from companies house for a fee but the club does not have to report as much about were finance has been obtained etc - why do this, what is he hiding?
It also means that Gartside will lose his shares too.
non of this makes sense to me, the debt will still be there, but the fans will know even less about what goes on at the club now - this has to be the only reason.
Is Eddie up to something?