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Post by CountyGroundHotel on Oct 6, 2015 15:00:18 GMT
With all this talk of Shares, I have some questions. Do you think my 5x10p shares could swing the balance between selling to the Consortium, or fighting them off? Is there a chance that my five shares could hold the balance of power? Should I expect a phone call from the Consortium? What will you do with your 5 x the offer price for those shares? Ate there penny ships in kraut land? More importantly what provision was put in the sharescheme to use any windfall from the sale of those shares?
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Post by Nobbygas on Oct 6, 2015 15:08:19 GMT
With all this talk of Shares, I have some questions. Do you think my 5x10p shares could swing the balance between selling to the Consortium, or fighting them off? Is there a chance that my five shares could hold the balance of power? Should I expect a phone call from the Consortium? What will you do with your 5 x the offer price for those shares? Ate there penny ships in kraut land? More importantly what provision was put in the sharescheme to use any windfall from the sale of those shares? If you had shares from the early days of Apple or Google you are now sat on a fortune....keeping my fingers crossed !
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Cheshiregas
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Post by Cheshiregas on Oct 6, 2015 16:10:57 GMT
A1. Because Higgs lost the golden legacy he inherited, and many millions more. A2. Are you seriously saying that there was no business plan and no thought given to what would happen with non-matchday income?There is a very big business plan, but is company confidential until the articles of Association or Memorandum are issued ,they will stay that way The business plan won't be contained in the Articles of Association or the Memorandum of the new company formed to run the UWE. They only state the proposed business of the company and its modus operandi. One would seriously hope that a business plan was prepared well in advance of the proposal to build the UWE being agreed and signed off by the directors of 1883.
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Deleted
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Post by Deleted on Oct 6, 2015 16:44:39 GMT
Correct, never seen anything in the sharescheme that allowed for the issue of new shares There is a motion at every BRFC AGM to confirm that the shareholders are happy to allow new shares to be issued, this gets passed unopposed, but as far as I am aware there has not been an increase in shares over recent years.
There are, of course, shares held by ex Directors that could be redistributed with the permission of the Company Secretary acting on behalf of the Chairman, if they want to sell them.
Correct. The board are free to sell shares to whoever they want, whenever they want and what ever price they want. I think that there are plenty of unsold shares available to whoever might want to buy a few.
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Post by singupgas on Oct 6, 2015 17:11:41 GMT
Reading this thread and the new beginning thread on the other forum making me realise just how desperate we are becoming for there to be something in this rumour and that NH sells up as soon as reasonable offer comes in.
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Post by Nobbygas on Oct 6, 2015 18:11:26 GMT
Reading this thread and the new beginning thread on the other forum making me realise just how desperate we are becoming for there to be something in this rumour and that NH sells up as soon as reasonable offer comes in. Desperate? After supporting this tin pot club for 45 years, that is a very polite way of putting it
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Post by bluebeard on Oct 6, 2015 23:01:13 GMT
The accounts are quite confusing as you need to look at the group position ie football club, stadium co and holding co so 3 sets of figures to go through. From memory, the latest set includes a note referring to the MSP loan being take out after the accounting period end and what it was used for. There are also notes referring to preference shares and interest bearing directors loans although (unconfirmed as far as I'm aware) it has been said that some, if not all, of the directors are waiving the interest payments that are due to them. We do know that some of Higgs loans have been converted to share capital so in that context they were and are now interest free. Not confusing at all. Loans and bonds which directors held/hold are subject to interest of 2.5 to 4%. Interest added to directors account for drawing when appropriate. Loans converted to share capital increases the shareholders share of the business. That's not the confusing part. The ownership split, net worth and profitability of the group take some unraveling. We know the club loses money every year and we know that this is covered by new directors loans. We don't know which loans are interesting bearing and of those that are, which rate applies. We do know that if interest is being added to the loan balances it isn't physically being paid. We also know that GD has had some but not all of his money back and we know that NH has capitalised some of his loans. But we don't know how much.
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Post by droitwichgas on Oct 7, 2015 7:38:22 GMT
Given the low interest rates at present I doubt this is that big an issue anyway, as 2% on a £1m loan is "only" £20k, given overall club debts are approaching £8m then the odd £100K of intestest owing doesn't seem to make that much difference to the overall financial state of the club?
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Post by fanatical on Oct 7, 2015 8:48:54 GMT
There is a motion at every BRFC AGM to confirm that the shareholders are happy to allow new shares to be issued, this gets passed unopposed, but as far as I am aware there has not been an increase in shares over recent years.
There are, of course, shares held by ex Directors that could be redistributed with the permission of the Company Secretary acting on behalf of the Chairman, if they want to sell them.
Correct. The board are free to sell shares to whoever they want, whenever they want and what ever price they want. I think that there are plenty of unsold shares available to whoever might want to buy a few. Unfortunately that is one of the concerns that Directors buy at one price and for anyone else (including the SC) the price is higher. In some contexts this is known as 'a rip off'
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Post by bluebeard on Oct 7, 2015 9:08:12 GMT
Correct. The board are free to sell shares to whoever they want, whenever they want and what ever price they want. I think that there are plenty of unsold shares available to whoever might want to buy a few. Unfortunately that is one of the concerns that Directors buy at one price and for anyone else (including the SC) the price is higher. In some contexts this is known as 'a rip off' This is true to an extent and certainly applies to the share scheme. However, if you issue more shares in a company that loses money (so ownership is diluted and net worth is reducing) the price is bound to go down. Or am I missing something?
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Post by bluebeard on Oct 7, 2015 9:13:25 GMT
Given the low interest rates at present I doubt this is that big an issue anyway, as 2% on a £1m loan is "only" £20k, given overall club debts are approaching £8m then the odd £100K of intestest owing doesn't seem to make that much difference to the overall financial state of the club? Yes it's much better to borrow money at 4% from directors (with no fixed repayment date) than pay 18% to MSP (who won't be so flexible).
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Cheshiregas
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Post by Cheshiregas on Oct 7, 2015 9:35:57 GMT
Given the low interest rates at present I doubt this is that big an issue anyway, as 2% on a £1m loan is "only" £20k, given overall club debts are approaching £8m then the odd £100K of intestest owing doesn't seem to make that much difference to the overall financial state of the club? Yes it's much better to borrow money at 4% from directors (with no fixed repayment date) than pay 18% to MSP (who won't be so flexible). That's if the directors want to keep lending money to the club... Reports suggest otherwise.
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Post by fanatical on Oct 7, 2015 12:32:25 GMT
Yes it's much better to borrow money at 4% from directors (with no fixed repayment date) than pay 18% to MSP (who won't be so flexible). That's if the directors want to keep lending money to the club...
Reports suggest otherwise.which is why they have resorted to borrowing from MSP (other lenders of lower rates are available of course if you are not desperate)
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Oct 7, 2015 12:56:22 GMT
Given the low interest rates at present I doubt this is that big an issue anyway, as 2% on a £1m loan is "only" £20k, given overall club debts are approaching £8m then the odd £100K of intestest owing doesn't seem to make that much difference to the overall financial state of the club? Yes it's much better to borrow money at 4% from directors (with no fixed repayment date) than pay 18% to MSP (who won't be so flexible). Better still to live within your means. If someone can't manage their existing finances how are they going to cope when interest is added on to their liabilities?
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Post by Nobbygas on Oct 7, 2015 17:57:33 GMT
"Better still to live within your means." Careful Bamber, nowadays that is called 'austerity' ! If you advocate that policy you'll have the great unwashed demonstrating on your doorstep!
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Deleted
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Post by Deleted on Oct 7, 2015 19:38:44 GMT
Careful Bamber, nowadays that is called 'austerity' ! If you advocate that policy you'll have the great unwashed demonstrating on your doorstep! Never gonna happen, they have no place leaving the sweatshop, and even if they did get out and past the gates the dogs would tear them to shreds before they made it to the front door step.
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kingswood Polak
Without music life would be a mistake
Joined: May 2014
Posts: 10,353
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Post by kingswood Polak on Oct 8, 2015 11:22:27 GMT
Careful Bamber, nowadays that is called 'austerity' ! If you advocate that policy you'll have the great unwashed demonstrating on your doorstep! Never gonna happen, they have no place leaving the sweatshop, and even if they did get out and past the gates the dogs would tear them to shreds before they made it to the front door step. If you make it past the minefield on the drive And beat the dogs and cheat the cold electronic eyes And if you make it past the shotgun in the hall, Dial the combination, open the priesthole And if I'm in I'll tell you what's behind the wall. Seems very apt or I'm having,one of my turns
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brizzle
Lindsay Parsons
No Buy . . . No Sell!
Joined: May 2014
Posts: 4,293
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Post by brizzle on Oct 8, 2015 12:44:19 GMT
Careful Bamber, nowadays that is called 'austerity' ! If you advocate that policy you'll have the great unwashed demonstrating on your doorstep! Never gonna happen, they have no place leaving the sweatshop, and even if they did get out and past the gates the dogs would tear them to shreds before they made it to the front door step. After reading that, I'm now suitably reassured regarding our future.
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Post by Nobbygas on Oct 8, 2015 12:45:52 GMT
Careful Bamber, nowadays that is called 'austerity' ! If you advocate that policy you'll have the great unwashed demonstrating on your doorstep! Never gonna happen, they have no place leaving the sweatshop, and even if they did get out and past the gates the dogs would tear them to shreds before they made it to the front door step. You have a front door? How common quaint.
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Deleted
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Post by Deleted on Oct 8, 2015 19:12:58 GMT
Never gonna happen, they have no place leaving the sweatshop, and even if they did get out and past the gates the dogs would tear them to shreds before they made it to the front door step. You have a front door? How common quaint. It's beyond the moat, just past the duck house.
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