I wonder how big a holding Goldman has at the moment. And if/when theyāll want to take control (with or without Anneās consent).
Do you think that might happen? Could it happen?
Itās got to be a āmaybe,ā at least?
Look how much JP Morgan / Chase have spent on launching in the UK. They must think thereās money to be made in this market.
Goldman have already shown an interest in consumer finance, both with Apple Card in the US, and Marcus Bank thatās both in the US and here in the UK.
The flip side, of course, is that Goldman may be eyeing up other options for takeover, or may refocus on their home market, and Starling may have other ideas about the whole thing.
Doesnāt the mystery man on the yacht own the majority of Starling? Anne already has no say.
Owning shares and being in control of the business are very different things.
Thereās a board, which Anne is obviously on, and she is a company director. Itās the directors who need to consider any sale agreement, shareholders then get to vote on it (possibly, depending on their share types). So it takes both āsidesā to all agree, and as an executive director, a board member, the CEO and probably a major shareholder Anne certainly has a say!
I donāt think Anne is a major shareholder, thatās the point.
Even if she wasnāt, as a company director and board member sheād still have a very significant say in almost anything.
However Iād be surprised if Anne didnāt hold a good number of shares? What makes you think she doesnāt?
Although Iāll be honest, I donāt understand the technical term āperson with significant controlā.
Ah right I see. Interesting but doesnāt quite mean she doesnāt have a say. A person with āsignificant controlā is just someone with 25% of shares or more.
Probably all the main shareholders including Anne have veto rights over an exit. At the very least, she obviously has a very influential seat at all the tables where a decision might be made.
What would a hostile takeover look like? How does that work?
Thatās really for public companies where the shares are all buyable. In a private startup company, other investors will have first rights of refusal on share sales, veto powers etc (thatās why you canāt just sell your Monzo shares) so itās a non-starter in almost all cases.
Obviously public companies are different, those shares are for sale and once you have a majority you can start sacking board members
Doing a basic check at Companies House (because itās Thursday and thereās nothing on TVā¦)
Harald McPike-Zima is listed as the person with significant control in the company.
Harald is listed additionally of having more than 25% but less than 50% of shares in the company
What that means? Iāve no idea.
Exactly what it says on the tin! He owns between 25 - 50% of shares, and thatās it. Likely at some point his share will get diluted below 25% too.
The only other thing to note is that if he or anyone else (by way of voting rights or any other agreements) had the unilateral right to sack directors / control the board that would be listed separately under the type of control, so we know he (and no one else) has that. Which is perfectly normal for a company that size
I suppose my slightly contentious point was that, if other shareholders were willing to sell, GS looks in the market to buy.
Now, we donāt know if thatās purely on the basis of potential returns, or if they have a strategic interest in the business.
But the fact is that, if McPike (aka mysterious man in the yacht) or other shareholders wanted to still to Goldman, then thereās probably little that Anne could do about it.
Little anybody could do about it - even the man on the yacht , apart from buying them themselves, - its only 100 millā¦ 
As long as they complied with the Articles of Association for Starling - Section 11 
- ROFO - Right of First Offer - to existing shareholders , if not taken up by them it can go to an interested buyer outside of existing shareholders , subject to 11(g)
Transactions feed doesnāt seem to be updating, spent about Ā£100 in 3 different shops and doesnāt show anything, anyone else?
Mine same today, no recent transactions are shown 
. And Iām in another town today 
Nothing wrong in my appā¦ iOS16