Talk Morgan Forums Community The Malvern Arms Current Morgan Control

Thank you for joining in, Image. A local legal professional is always helpful. As noted earlier, I have no urge to get involved in in a Moot Court debate. I left such things behind more than half a century ago. Never liked the view from either behind a desk or a from a bench.

You mean the warm and fuzzy feeling thing? Yes. Lot of that going around. I learned to ignore it a long time ago...starting around February 2000. (wryly)


Actually, we both know that the world mega-corporations and many others are normally tightly controlled by blocs of under 5%. These government rules are always silly and arbitary. It is why they are constantly expanded by the Courts to reflect the "de facto" situation rather than one merely "de jure". You will notice from Company House that most of the resigning and appointed MMC entities "possessing significant control": were not shareholders at all!

gmg

Definitely not a legal professional (though that description may have been tongue in cheek to reflect my simplistic input 😄)

I doubt anyone other than Invest Industrial have any significant say in the future progress or direction of the company (money talks! ... that's when it's not just shouting orders that is 🙂) ... though the new majority shareholders may well be benign and even beneficial) ... I doubt considerations of history or tradition will carry any weight if the figures turn bad (other than maybe raising the price asked for the name when it gets sold on) ... not much sentiment floating around the acquisitions world.

K

Your timing is off..but you have a pretty accurate grasp (a testament to your acumen) though it is a small part of the story.
Company House shows the MMC shareholding as after the dust settled:


Add it up. The tale leading up to the sale can be gleaned from examining the statements from 1999 to 2019, tho a tiny bit of forensic training would be very helpful. It puts the 2019 sale in a different light. Some would even muse that the company was not happily managed. (NOT me of course!!) The British government helped a lot.

[quote=howard]. Carlyle is the largest, by far, backer of II. Dig a bit more ex-MMC. Carlyle notes similar arrangements with more than 2000 companies worldwide. 5h largest private equity concern on the planet!!!! Yes. I know Carlyle as well. However, I cannot see them involved with something this small. This seems to be a Morgan petrol-head (like us) purchase by the brothers. Bravo! There hasn't been a real petrol head at the helm for two decades. If we can, from what we see so far, we should help them.They might not understand today's Morgan community, but then, neither do I!

gmg (a perennial optimist)

Lorne,

According to those numbers of shareholding, If after Peter's death, his 48,000 shares were splitted equally between Charles, Lady Colwyn and Mrs Price, each of them got 16,000 shares.

Then, Charles came up with 30,000 + 16,000 = 46,000 shares
and Lady Colwyn and Mrs Price with 26,000 shares each, ending with a combined 52,000 shares in total.

Charles found himself in a minority position after P.H.G. Morgan death. Am I wrong ?

One of the directors of SPORTS CARS (ENGLAND) ACQUISITIONS LIMITED is Lawrence Price so there's still some family influence there.

I don't see that. https://find-and-update.company-information.service.gov.uk/company/11838903/officers Can you post your link?

More importantly, a few of the middle management haven't changed.

Apologies - Sports Cars (England) Holdings Ltd, not Aquisitions. Still, all part of the same bundle

https://find-and-update.company-information.service.gov.uk/company/11836799/officers

Thank you TBM. However, as I mentioned earlier. The deeper one delves into corporate organization, the farther one strays from the essentials one wants/needs to know.

The Mr. Lawrence Henry Peregrine Price mentioned is a principal in ROCKWORTH MANAGEMENT PARTNERS LIMITED. Is that good person the husband of the younger of PM's two daughters, the hospital administrator and a Trustee of the Morgan Family Trust. If so, I imagine he has as much say in the decisions that concern us as his fellow director in the company, Lord Beaverbrooke. In my experience, concerns like InvestIndustriel need a map to understand and trace..all to no end that should interest us. BTW, the same source states that this company began as Industrial Growth Collective S.C.A though that could have been the name of a dormant shelf company. We could go on forever. Do we really need to know anything more than who ultimately makes the decisions? There is more trivia but let us end this area of inquiry here.

gmg

Gilles, this is better over a beer. I started writing an comprehensive answer and quit after too many paragraphs. The full story would take a book.

The shortest I can do, even using only Company House:

1. The 2002 filed statement states that PM's shares were in the Morgan Family settlement (which I refer to as the "trust". The 2002 statement was filer at the end of 2003, after Peter had passed.
2. I believe Heather became the sole beneficiary with the Trustees being Jillian's husband along with PM's close friend and solicitor, Andrew Duncan, the younger brother of Mike Duncan. .
3. Heather also inherited the Pickersleigh land and building, which Peter, like HFS before him, had always held personally, a common business practice that continues to this day.
4. Jane's pivotal shares, (she pre-deceased PM by four months, were evenly divided among their children.
5. The MMC charter was changed and last shares were made the only voting shares and all others, were non-voting.


At no time was Charles Morgan in other than a minority voting position during his entire tenure with the Company. He was also never elected Chairman.
He was removed from the Company by the other voting shareholders in 2013. Lawsuits, which are of public record, ensued. By that time I had moved on to
other interests for a long time. I did not track them but I know you can find the public court records. Settled long ago, I presume.

gmg

Lawrence Price is the Great Grandson of HFS, Grandson of Peter. He was appointed Non Executive Chairman following the resignation of Steve Morris, Details were in the press statement from MMC on the 22/12/22. He has previously a Non Executive Director of MMC - appointed in 2012.

I think much of this thread is now mere supposition and conjecture rather than solid fact.