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CooperMan
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Original Post (Thread Starter)
#791709 12/10/2023 12:50 PM
by Gilles L.
Gilles L.
Lorne,

Would you please give us some explanation about your comment : '' A large loan (during the '60s) from his then wife culminated in Peter Morgan's loss of his sole majority (in the Morgan Motor Company) and the decisions that lead to the 2019 sale '' ?

I think that many Morganeers would like to understand better the chain of events that led to the sale of 51 % of MMC shares to Invest Industrial.

Gilles from Quebec
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#791891 Dec 13th a 08:47 AM
by JohnHarris
JohnHarris
Significant control of a company also relates to voting rights and share holding although they are usually one and the same, however some shares have more than one vote per share even no voting rights at all eg I hold shares in a Management Company that gives me 10 votes for each share, and in this case my voting rights rather than my shareholding gives me significant control of the company.

Whilst some of the information held at Companies House is not always 100% reliable, most larger company accounts are independently audited and the annual Confirmation Statement should identify the shareholders go to Companies House, search for Morgan Motor Company and the look at the updated Confirmation Statement for 24/2/2020 gives you some detail of the transfers of shares.
https://find-and-update.company-information.service.gov.uk/company/07459137/filing-history

Whilst this is an interesting discussion, it can sometimes become a little indelicate, and true control of a company may also in effect be maintained through debentures, loans or mortgage agreements or other charges through covenants and charges on assets etc rather than just by shareholding alone.
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