Dreamland is owned by a PLC - Where can this lead to?

[vince69619]

Now we know from Barry that Dreamland is basically not up for sale (even though he keeps suggesting we all buy it), a new thought has come to mind.

Maybe someone who knows about PLCs can comment on this brain dump.

If Dreamland is owned by a PLC and as we said before, the current mis-management of the site (lack of investment in a viable park) would give the shareholders something to be upset about...

How much comeback do the shareholders have?

My main point is... How much is there to be gained by us all becoming disgruntled shareholders in the PLC ?

Unlike our friend Barry, I am man enough to admit I just don't know if it's a good idea, so I am asking if anyone other than Barry can pad out this thought?

Vince.

[porf]

Vince,

I believe that when I looked into it a while back at Companies House that it is a "Private Limited Company" rather than a "Public Limited Company".

I think this means that although it has shareholders the shares are not publicly available. This would prevent us (and the General Public) buying shares.

The shares would most likely be held by a few individuals.

(It's a long time since I studied this sort of stuff, so this may not be 100% accurate)

Updated : The following definition seems to confirm the above.

Private Limited Company :
A legal entity separate from that of its officers, with its own profits, losses, assets and liabilities. Ownership of a private limited company is established through the division of shares. Unlike a public limited company, a private limited company is restricted from selling shares to the public. All private limited companies protect the associated officers from financial liability should the company encounter problems.

[vince69619]

Who's smart idea was it to create two TLA's that read as PLC.

So do we know that the company is Private then, rather than Public?

Vince.

[porf]

Vince,

At the bottom of the page linked to below is the original info from Companies House :

http://www.joylandbooks.co.uk/forum/viewtopic.php?t=647&postdays=0&postorder=asc&start=0&sid=dd2eb5a396ba75acde86de73eeb7fab4

[vince69619]

You are correct, interestingly the company activities don't list running parks, just trying to develop and sell them off...

Company Type: Private Limited Company
Nature of Business (SIC(03)):
7011 - Development & sell real estate
7020 - Letting of own property

Interesting that, a company who sells land and one of their representatives tells us the land is pretty much not for sale.

Vince.

[Bob]

You are correct, interestingly the company activities don't list running parks, just trying to develop and sell them off...

Company Type: Private Limited Company
Nature of Business (SIC(03)):
7011 - Development & sell real estate
7020 - Letting of own property

Interesting that, a company who sells land and one of their representatives tells us the land is pretty much not for sale.

Vince.

That not what I said. I said it is not currently on the Market. That does not stop offers being made or even anyone submitting Plans to the councill to redevelop it. If I wanted to I coul submit plans to redevelop your home. I do not need to own it to apply for planning permission

[vince69619]

So nice to hear from you Barry, do you think you could re-phrase your answer then, so it's not ambiguous?

[Neil]

You are correct, interestingly the company activities don't list running parks, just trying to develop and sell them off...

Company Type: Private Limited Company
Nature of Business (SIC(03)):
7011 - Development & sell real estate
7020 - Letting of own property

Interesting that, a company who sells land and one of their representatives tells us the land is pretty much not for sale.

Vince.

That not what I said. I said it is not currently on the Market. That does not stop offers being made or even anyone submitting Plans to the councill to redevelop it. If I wanted to I coul submit plans to redevelop your home. I do not need to own it to apply for planning permission

I don't know much about that kind of thing but it sounds rather odd. So I can apply to turn The Houses of Parliament into a giant choclate fountain? Right, had better bear that in mind. The point is Bob we can't afford to buy Dreamland because we aren't multi millionaires. People who are either tend to inherit their money or build it up over many years (eg Richard Branson started out with a CD stall on a market). The point is you've suggested that before, however Philip Miller submitted plans and effectively Jimmy godden laughed in his face.

[Bob]

You are correct, interestingly the company activities don't list running parks, just trying to develop and sell them off...

Company Type: Private Limited Company
Nature of Business (SIC(03)):
7011 - Development & sell real estate
7020 - Letting of own property

Interesting that, a company who sells land and one of their representatives tells us the land is pretty much not for sale.

Vince.

That not what I said. I said it is not currently on the Market. That does not stop offers being made or even anyone submitting Plans to the councill to redevelop it. If I wanted to I coul submit plans to redevelop your home. I do not need to own it to apply for planning permission

I don't know much about that kind of thing but it sounds rather odd. So I can apply to turn The Houses of Parliament into a giant choclate fountain? Right, had better bear that in mind. The point is Bob we can't afford to buy Dreamland because we aren't multi millionaires. People who are either tend to inherit their money or build it up over many years (eg Richard Branson started out with a CD stall on a market). The point is you've suggested that before, however Philip Miller submitted plans and effectively Jimmy godden laughed in his face.

You do not need to be a multi millionaire. If you have the business experiance and can come up with a good business plan you can borrow the money.

[Neil]

You do not need to be a multi millionaire. If you have the business experiance and can come up with a good business plan you can borrow the money.

Firstly it depends what you mean by 'business experience' Bob. If you already run a very success theme park then you might be able to borrow the money, however we don't run a theme park as you know. Moreover as has been explained to you several times Philip Miller who has got a success amusment park (Adventure Island) has offered to buy it and as I said Jimmy Godden wouldn't have it. Why would they accept money from a bunch of coaster enthusiastes like us and not from a respectale operator?

Secondly it isn't true that you don't need to be a multi millionaire as in most instances you do. For example if we wanted to borrow £10 million they would probably expect us to put up atleast £2 million ourselves for security. Ofcourse if I already owned a very successful theme park don't you think the banks might be interessted to know why I couldn't put up some money myself? Clearly if I was trying to borrow money either my business wouldn't be all that successful or I would be over ambitious and they'd tell me to wait a year until I do have some money to put up. You argument doesn't seem to hold much water.

[Bob]

You do not need to be a multi millionaire. If you have the business experiance and can come up with a good business plan you can borrow the money.

Firstly it depends what you mean by 'business experience' Bob. If you already run a very success theme park then you might be able to borrow the money, however we don't run a theme park as you know. Moreover as has been explained to you several times Philip Miller who has got a success amusment park (Adventure Island) has offered to buy it and as I said Jimmy Godden wouldn't have it. Why would they accept money from a bunch of coaster enthusiastes like us and not from a respectale operator?

Secondly it isn't true that you don't need to be a multi millionaire as in most instances you do. For example if we wanted to borrow £10 million they would probably expect us to put up atleast £2 million ourselves for security. Ofcourse if I already owned a very successful theme park don't you think the banks might be interessted to know why I couldn't put up some money myself? Clearly if I was trying to borrow money either my business wouldn't be all that successful or I would be over ambitious and they'd tell me to wait a year until I do have some money to put up. You argument doesn't seem to hold much water.

Again you are incorrect. Jimmy Godden does not own Dreamland hence he is not in a position to sell it. Dreamland is owned by a company. A company has certain legal obligations to its shareholders under company law. Companines also have legal duties under EU law. Basicaly companies have to act in the best interests of their shareholders and to act in a fair manner to all parties

[Neil]

Again you are incorrect. Jimmy Godden does not own Dreamland hence he is not in a position to sell it. Dreamland is owned by a company. A company has certain legal obligations to its shareholders under company law. Companines also have legal duties under EU law. Basicaly companies have to act in the best interests of their shareholders and to act in a fair manner to all parties

Firstly what do you mean "again incorrect". When exactly do you think I have been incorrect before? Because I think Adventure Island doesn't have super market in the centre?

Secondly Jimmy Godden doesn't own the company (although he does have a large steak in it I hasten to add), however he did before this company took over. Philip Miller offered to buy it when he did own the whole site so actually I think you are perhap deliberately mis-understanding. Moreover the main point of my post was to point out that actually we don't stand a chance of pursuading banks to lend us loads of money to buy it so I don't know why you suggested several times that we should try. The question I was really hoping you would answer (but for whatever reason didn't) was why would the company sell to us when they won't sell to other recognised operators? Clearly you keep avoiding the question so until you do answer it perhaps I'm wasting my time.