Joe you say that this polaroid "partnership" is just a partnership, not a merger or a takeover. Who is now the major shareholder of Blipfoto Ltd? and how does this not represent a takeover?
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Joe has said (I think during the Q&A) that the ownership - ie the shareholding - has not changed and the company is still owned by the same people. The "legal" bit at the bottom says the website is operated by blipfoto.
I have reason to believe that Polaroid are now the major shareholders. So if Joe has said there has been no change, I would suggest that there have been a few porky pies told along the way. Hence the title of the thread. Joe? Any input for your paying customers?
Hi ApexStuart36. I have copied Joes statement from the Q&A below for you.
"This is not a merger or a takeover - this is long-term partnership between two separate companies. Blipfoto has not changed hands."
Please also keep in mind our be excellent rule applies to everyone on the site, including staff.
Thanks for you reply Blipfoto Support but your response does not answer the question. I also heed the be excellent "warning", and I would expect Joe to "be excellent" to us however I list my source of info here for all to see. http://companycheck.co.uk/company/SC327482/BLIPFOTO-LIMITED/group-structure#shareholders Make up your own mind folks...
@ApexStuart36- being as excellent as I can let me say that I define a paid member as someone whose annual fee entitles them to post on the site and use its features. That's it! As long as you can post, communicate with your blip friends and not see a barrage of ads on your journal, why on earth do you care what the particular business arrangement is? Are you a stock market expert who understands what all types of shares are and how they mold influence?
I rather agree with memento on what matters most here.
However, to help with ApexStuart36's point the clue is that PLR IP Holdings' shareholding are "convertible redeemable preference shares".
What that means is that, through these shares, PLR IP Holdings (ie the holding company for the Polaroid brand) have first dibs on dividends from Blipfoto but don't have any voting rights.
However the "convertible redeemable" bit means that under differing defined circumstances (but we can't tell what they are from companycheck) either Blipfoto could forcibly buy back the PLR IP Holding Shares or PLR IP Holdings could forcibly convert the preference shares into ordinary stock which would give them voting rights.
So Joe is being honest in terms of control, at least for now, but depending on how things turn out this could change in future.
@jcdodds, thank you for the explanation. Very helpful.
Apexstuart36
You say "I have reason to believe that Polaroid are now the major shareholders" but you don't elaborate. Was jcdodds' explanation your reason? If so, I think you are due an apology to Joe for your suggestion that he was lying.